Our all-new Savings Pot is here 🎉

[Paulw (Paul)]

It’s the same screen for other banks as well. Just a means of copying your account details.

[Blue]

We’ve raised your rate to 3.2% AER (variable) - well done Monzo!

[danbeddows (Dan)]

Since the 23rd, too

[BristolMatt (Matt C)]

Hoping there is some movement on the rate for this. would like to keep my savings in Monzo but the gap is widening a bit too much now.

[andrew_fishy (Biggest horse fanatic in Leeds)]

Unlikely but you never know, Monzo have to make money out of the deal too

[Kershaw]

Chip - 3.71%. Why bother with Monzo?

[Ashton]

@Kershaw

Why bother with Monzo

Some people prefer everything in one place as it’s that bit easier to manage and keep track

[Carlo1460]

Monzo run their own savings account now so there’s a bit of hope in there they may increase naturally.

[N26throwaway (Sir Tom MacMonier)]

They were lightning quick off the back of the base rate increase. Very much a catch up as opposed to market leading though. They don’t seem to be reactive to competition at all it would seem.

[jaisullivan]

As much as I like having everything all in one place, I am tempted by the latest Chip news. I really hope Monzo start to be competitive in their offering.

[Lewis_P]

it gets my hopes up for a new rate every time I see a new post in this thread haha

[o99]

@jaisullivan

As much as I like having everything all in one place, I am tempted by the latest Chip news. I really hope Monzo start to be competitive in their offering.

I’ve always been (and still am) of the opinion that Monzo does a good job when it comes to easy access savings rate. That’s because they stated their aim is to provide better options than fellow current-account-providing banks, and Monzo always does fairly well in comparison to this subset. At the moment, Monzo (3.20%) is top of the pile of easy access accounts at such banks, along with Nationwide (3.20%). Chase @ 3.10% is the next best option.

If you’re willing to move your savings to a bank that doesn’t provide a current account, you’ll always find better options than Monzo (or any other current-account-providing bank). I think most people probably don’t bother which is probably why banks who provide current accounts generally don’t try to top those who don’t.

As an aside, I’ve just noticed that Monzo savings accounts are not currently listed in moneyfacts tables. Has this always been the case? I thought I had seen them listed in the past.

[Sachaz (Sacha Zarb)]

[N26throwaway (Sir Tom MacMonier)]

3.4% TYSM Monzo!

[andrew_fishy (Biggest horse fanatic in Leeds)]

Thanks for the rate increase, Monzo

[N26throwaway (Sir Tom MacMonier)]

It’s the speed of implementing it that continues to impress me. It’s set a new standard, and that’s very much the promise of fintech fulfilled for savings. Love that.

Twice now they’ve passed a share of the BOE increase onto us on the day it’s announced, mere hours afterwards. It shows everyone else up. To think I was previously full of praise for Atom moving within a few days. That seems way too slow now.

[yatin]

Worth pointing out that I had an update from Coventry Building Society at 12:59 (Just under an hour…) - to 3.6% for their easy access.

Also would love to see a greater rate - was hoping for at least 3.5%, and closer to 4%. Will move my savings out of Monzo over the weekend.

[Sachaz (Sacha Zarb)]

All good, and please don’t complain when they go down as quickly

[l33t]

Chip is still the king for me so far at 3.71% but Monzo is so quick and fast at least.

[Lewis_P]

This is great!

Still frustrated that interest payments don’t appear in the Google sheets export though.

IFTTT + Google Sheets + Monzo = Then what?

Want to give this another another bump. Increasing interest rates on savings pots is awesome, but interest still doesn’t show up in the automatic Google sheets export (a paid-for feature of plus and premium) or the regular Google sheets export.