I’d like to setup my own overdraft but interest free. I don’t want it to show as a balance though (i.e. still show negative if I dip into it).
Could you develop a new pot type so that effectively people can pay real money in and out of the overdraft Pot?
If you are serious about changing banking then this is a great place to start as interest charging overdrafts are financial craziness!
Overdrafts on the other hand are important.
Say you go shopping and have the money in a pot…but there is no internet to transfer. This is the most annoying Monzo issue but an overdraft fixes it. You can pay and transfer from the pot as soon as you get internet back.
But why can’t my overdraft just be a pot of my real money? It should not be a product, it should just be a standard feature of a bank account; come on Monzo, let’s change banking in a positive way!