I [quote=“JustJordds, post:142, topic:74752”]
I get the suggestion because it is something that has worked and is working for you - but when your current account already does it why is it needed?
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I stil believe it could be applied to the uk
I totally agree love it
But I just don’t get it
I get 1.5% on ALL my money in my current account. It doesn’t have to move anywhere, it just earns interest. It sits there, earning money, until I spend it.
It earns interest 24 hours a day, 7 days a week, 52 weeks a year.
Sitting on a ferry reading this thread, what an absolute waste of my time 
I’ve tried to understand/ explain this and just didn’t get anywhere 
I now pass this mantle on to you - god speed!
The account i was suggesting is now avaible with Revolut. Which goes to show there was a demand and it was doable
You got a screenshot of that? Haven’t seen them launch a new product
look at their savings vaults features
Yes it’s a savings account, not a current account which was your suggestion, low interest and it’s behind a paywall
So nothing like you suggested.
In the UK, we simply call it interest paid on current account balance. It used to be available at most current accounts, but is rare since 2008.
The problem with overnight interest rate is that currently in the UK overnight interest rates are actually negative. Thus Monzo cannot trivially make money of our balances, yet alone pay us. Thus any similar offer is most likely behind a paywall or limited in some manner. Most of the time high balances are kind of a liability to Monzo. They’d rather have us lock it up into pots or better spend the money.
They offer to create a separate vault, for premium customers only, and deposit that with paragon for 1.05% which is less than what is offered without a fee at Marcus. So you need to pay at least 72 quid a year, and interest earned will be less than what is available with Marcus. So financially I cannot recommend for anybody to do that, unless they can justify the fee elsehow and for some reason cannot open accounts with Marcus or Paragon direct (one app convenience maybe?).
Anyway, pots that earn money is the comparable Monzo feature and from time to time offers similar or better returns, after fees.
i dont know what its says 1.05 on their website but i get 1.35
i dont agree with the deposits being a liability as such
It creates brand loyalty and daily cash flow also , banks loan each other money over night localy and internationaly
if you want to shake up the market there is no reason why the current account can not earn daily and pay it out daily
how is 1.35 daily a low interest ?
i dont see monzo offering anyting close to that in their savings vaults
Monzo don’t have any savings accounts or “vaults”, they’re all handled by third parties.
They call it a POT same principle Revolut is not a bank so again its a 3rd party
It’s not 1.35% daily 
Yes they’re called pots and they are provided by someone else so Monzo have no control over the interest rate they offer.
Can we please try to avoid going on a roundabout again please? 
You will need a balance of £11,500 to get £12.99 to make up for how much the account costs and there is a limit to how much you can deposit for the 1.35 AER rate