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

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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:

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

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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.

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

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

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

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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:

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I can’t pay through a DD.

Crazy how this still doesn’t appear to be a thing!

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Cannot believe this still isn’t a thing!

You can make scheduled withdrawels from pots so that the money comes out of the pot on the same day the loan payment is due or you can actually pay that months loan repayment early by going into the loan and then the next payment due goes to the month after.

Same with my premium subscription whilst that can’t be paid from pots yet there is definitely a work around for it.

Incoming!

<boolean name="pay_loans_and_flex_from_pot" value="false" /> 

:eyes:

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I hope plus/premium too :weary:

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