👀👀👀👀 [Pay from pots with virtual cards]

UK Monzo Chat News & Updates
89

:zipper_mouth_face:

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90

Dan, we spoke about you and the emojis.

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91

:pleading_face:

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92

Still don’t get it :rofl:

I can already Pay From Pots.

Or is the excitement about paying Virtual cards from Pots.

I am on the free version so, if that’s all the fuss, it’s meaningless to me lol

93

I think it’s the ability to have card payments come directly from pots. Potentially with Google pay.

Another thing that’s meant to entice you to join up - and make it stickier for the rest of us.

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94

May as well expand on this - the number of times we have to think about what “locking” a Pot means for customers, and how many different ways people want to use locked Pots makes the mind boggle.

It’s pretty easy for manual withdrawals, that’s a definite no-no while your Pot’s locked :white_check_mark:

…but what about deposits?
If your idea of a locked Pot is “Savings go here, no touchy” then maybe it’s ok to put more money in?

…how about scheduled deposits/withdrawals, that you set up before you locked that Pot?
We keep these right now for cases like “I have to pay my £8 phone bill on the 3rd every month, and this Pot makes sure I have cash for it”, but alternatives we’ve explored include:

  • Locking the Pot clears out your scheduled movements “full lockdown”
  • You’re not allowed to lock a Pot that has any on it
  • …treating scheduled withdrawals differently from deposits? :scream:

…the same problem for scheduled deposits/withdrawals apply to Bills Pots too - we promised to pay your energy bill from this Pot, and many customers like to lock that Pot so that they don’t get tempted to spend their bills money.

Finally, purely hypothetically :eyes: what if you had something like a virtual card attached to your Pot? It’s a payment instrument that you can use outside of the Monzo app, so do we:

  • prevent you from locking the Pot if there’s a card attached?
  • tell you that we’re going to delete the card to prevent accidentally spending from the Pot?
  • …something else???

That’s without going into the complexity of how card payments work at all, like how if you book a hotel online with your card, 3 months later when you actually go to stay and eat everything in the minibar the price that you paid could change retroactively, affecting the current balance of the Pot that we let you lock… :confounded:

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95

Genuinely super excited by getting this feature, however, can we have the limit upped on number of active virtual cards now? % i svery low, especially when you add this epic feature into the mix

Great work by the way :slight_smile:

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96

It was uncovered in the Android teardown topic:

And at the same time this too:

1 Like
97

Prevent you from locking the pot if a cards attached :ok_hand:

98

Or is this just to throw you off our real new secret launch…

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100

Plus it appeared in my soup at lunch

image
image700×559 47.1 KB

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101

Phau of oint?

Monzo will now only communicate in French!

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102

You’re telling me recurring payments (subscriptions) will soon be able to be taken straight from a pot?

giphy

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103

Need to be able to add virtual cards to Apple Pay for this to be super useful.

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104

You will be able to

Well, probably. You’ll be able to add them to google pay so assuming Apple Pay is also a yes

105

I’m looking forward to creating a grocery pot for the month, then going shopping for all the bits at various places and each one comes direct from the pot :relieved:

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106

There’s also a hint in one of the new strings in the app version 3.99.0:

<string name="pay_from_pot_virtual_card_upsell_message">You can pay for subscriptions and one-off purchases from Pots using virtual cards. Exclusive to Monzo Plus and Monzo Premium.</string>

Plus/Premium features aren’t available with Joint Accounts (yet :crossed_fingers:)

3 Likes
107

This sort of feature (if it is indeed in the works :shushing_face:) could be a real game changer for budgeting.

There are lots of people who have pots they split into weeks for budgeting, imagine having five pots (for 5 week months), 5 virtual cards and being able to budget that way.

It’s times like this that working in fincrime is a bit boring :joy::zipper_mouth_face:

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109

If it is a feature :wink: … You know the next request is going to increase the virtual cards limit right? :speak_no_evil:

So I can have my groceries card, my night out card and so on…

110

If you had a pot for every week, surely you’d want GPay or ApplePay to auto-set the correct virtual card as the default as the weeks go by, otherwise you’d forever be using the wrong card/pot when you go to pay. I bet it’s not possible to initiate that from within an app like Monzo, no doubt has to be done within the specific settings.