Overnight interest bearing savings account

Monzo does have control over them in the sense that if its not competitive or does not meet the expectations of its customers they can stop listing it as an option

So you’re agreeing with me then, they have no control over the interest rate like I said :slight_smile:

Your other comment sounds interesting though, have you got a link?

For my pot, my agreement is with Paragon not Monzo.

The bottom line is there is a product out there which pays you daily and i for one moved my savings already

Again that’s not what you were asking for in your original post :rofl:

It pays you a miniscule amount everyday well done, not enough to cover the cost of the account.

*Only limited deposits will be accepted at the market-leading 1.35% AER interest rate. After the limit is reached, any new deposits will receive a lesser rate.

this was exactly what i was asking for there is no diffrence between it being a current acount or a saving pot

if the banks charge clients daily for loans they should pay out daily on savings

They don’t.

i am not sure some of you understand banking beyond what is being shared with you

The only person who is confused here is you, you have contradicted everything from your original post to open a paid for current account with a savings pot that only gives 1.35% AER which gives you pennies daily but not enough to cover the cost of the account.

This is now just going round and round and seems to be morphing from one thing into another. Given that we’re now reaching the insults stage because none of us apparently understand banking (Hint: we do!), let’s call it a day.