Our all-new Savings Pot is here 🎉

[Paulw (Paul)]

I’m yet to receive the savings pot but reading the thread, it seems to go against how Monzo describe budgeting and pot use. I have lots of pots for a reason and I don’t want to put everything in a single savings pot. It’s absolutely great work Monzo has its own savings product, the team have done great things launching this, Monzo is definitely on a roll right now. Im sure in time the savings pot product will iterate and get better but right now I don’t think one savings pot works for me.

[Peter_G]

Did Skynet send balloons?

@Paulw

Im sure in time the savings pot product will iterate and get better but right now I don’t think one savings pot works for me.

Baffling, isn’t it?

[davidwalton (Award Winning Hot Coral Analyst)]

@andys

On Plus/Premium - think of this as a boost, here’s two scenarios:

Scenario 1 - you have 2k in your current account, and 5k in your instant access pot. On Premium you’ll get 1.5% on the 2k, and 3% on the 5k.

Scenario 2 - you have 7k in your instant access pot. You’ll get 4.5% for the first 2k, and 3% on everything after that.

We’ll boost the first 2k in your account with your paid interest rate, on top of what you get from instant access.

There’s a third scenario?:

Scenario 3 - if you have Premium AND a Joint account, then it makes no sense to open a Joint account instant savings pot, because you’ll NOT get the ‘Premium’ 1.5% on the first 2K of the Joint Account instant savings pot - you’ll only get that 4.5%-total on a Personal/Premium instant saver.

Please tell me I’m wrong, even though I’m sure I’m right…

@Peter_G

Did Skynet send balloons?

Possibly for Joint account holders, aka: yet another deflation

[Paulw (Paul)]

It is rather. I’ll have a ponder on those scenarios but, it’s late and brain is tired, but I don’t think it’s gonna work (for me).

[xnox]

I hope Monzo is not going to run out of quotas of being able to offer this rate.

Cause Santander had to withdraw theirs, when they were market leading.

[albert0 (Albert)]

This is great news! Although it’s not there yet for me

[gt94sss2]

@bukisule

Please note: we’re rolling out this product to Monzo customers starting today. So if you don’t see it in your Monzo app just yet, you’ll be getting it soon!

Just curious, why is this a staggered rollout?

[SouthseaOne (Michael)]

Presumably for the same reasons as it was on previous occasions - it lets them check that there are no significant performance impacts on scaling up the numbers - better to be able to slow or pause further additions if there are than give it to everyone and have an outage or error for more people

[adztaylor]

Not here for me either. Will be moving all my savings over when live though!

[BristolMatt (Matt C)]

Will there be a notification in-app when it is available? It is a real pain actually navigating right through to the point I would see the new screen. Can’t believe how many clicks you need to actually locate savings - they really need to make this a lot easier if they want people to use it.

[dannymidd]

not here yet maybe

[Carlo1460]

Gummies? Those things in America that make you zone out for a while

[JIMMWX (Village Idiot)]

@gt94sss2

why is this a staggered rollout?

Just to give Monzo some kudos here, we are on day five of HSBC “activating” an ISA so I can put my savings back into it. At this point, the 3% monzo pot is starting to look attractive

So, I think that this is a good thing, helps them move at pace after doing checks along the way.

[dannymidd]

have the savings pot now very easy to set up wel done monzo

[coffeemadman (Jonathon 🏳️‍🌈)]

I’m in

[Nicbrown]

I’m not either

[Paulw (Paul)]

I have it. The flow is great. Not sure if I’ll use it yet though. Need to figure a few things out.

[BristolMatt (Matt C)]

I am also in!

[Lewis_P]

Incubus - Are You In?

[delabere (Jack)]

Jack again from then engineering team

Thanks for all your feedback so far and keep it coming - we are reading all of it!

We noticed how keen you are to get your hands on Instant Access so we’ve added it as a Monzo Labs feature. If you want to try it out now just head to Monzo Labs in the app and toggle on “Instant Access”

Enjoy