Pay loan from pot

Monzo offered me a loan so I was able to consolidate a few credit cards etc. However there is no way for me to “pay from pot” like a normal direct debit!

This would be SO HELPFUL!

It’s such a basic request an all you’d of thought it would’ve been built in from the very start.

Yup! It’s so frustrating. 99% of my direct debits come out on the first of the month - loan included. And due to the “pay from pot” system I never have to think about it. But sometimes I log in and I’m hundreds down from where I expect and it’s because of my loan! No problem, I’ll just move the money I have set aside across but it should be automated.

Now that my 1st payment has gone out I’m going to try a IFTTT to see if I can get it to go from my bills pot next month

1 Like

Is there anything in the works to be able to pay our loan repayments from a Pot alongside our Direct Debits

This feautre has already been suggested. You can vote for it here:

2 Likes

It’s not getting many votes but would be great if this was progressed.

1 Like

Set up a scheduled pot disbursement, It should replicate the functionality

After realising that it is impossible to repay a Monzo loan from a pot, I would find it useful if this function was added. Hopefully others would too.

If you repay the loan via a direct debit it can come from a pot.

1 Like

You can vote for this below or setup a scheduled pot withdrawal to cover it for the time being:

2 Likes

The monzo loan can’t be paid by direct debit. Unless that’s changed recently

1 Like

No it’s not changed its direct out your account and not via DD

1 Like

I meant to add it’s an annoyance of mine but what I do instead is once I’m paid I access the loan screen and hit the repay early button so it’s dealt with there and then. Saves a few pennies in payments for the following months an all :rofl:

1 Like

I can’t pay through a DD.