✅ Pot to Pot transfers

Even if this is implemented, I doubt you’ll be able to go from personal pot to joint pot.

I’d love to be proved wrong though!

Even better would be to transfer directly from a pot to an external account.

Less is more, this is a simple idea that would have a huge impact on the ability to manage finances.

I try to give myself an allowance each week which I use from the main account, having the ability to move between pots would allow me to do that without moving money through the main account showing up and having to be excluded. just make things that much more simple.

I have pots to weekly budget for each type of spend.

I have a pot for putting money to pay off the credit card.

Each time I use my credit card I transfer a corresponding amount from the budget pot to the credit card payment pot.

I use monzo plus feature to see credit card balance on pot list and make sure amounts are always the same.

This allows good clear weekly budgeting in conjunction with points giving credit card.

Going via the main account for this creates extra effort and pointless entries. Please Monzo add pot to pot transfers.

This is where I like Zopa pots, but it is very much a manual process.

I wonder how easy it would be for Monzo to implement this, software wise :thinking:

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Any updates on this improvement?

It’s been 3 years right.

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No updates AFAIK.

Don’t expect it either tbh

I would like pot to pot transfers also, or move out of pot to different account if needed. Thanks.

Looks like we got our wish:
We’ve shipped Pot to Pot transfers :honey_pot::twisted_rightwards_arrows::honey_pot:
@AlanDoe Yet another to tick off the list!

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Sorry it’s taken us a while, but we got there :sweat_smile: :rocket: @Stompy

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:heart_eyes: I am so happy that I can claim 0.5% of the credit for the new functionality I don’t even mind! Now I need a great second idea ……

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It’s really amazing you have finally shipped this :raised_hands: . I am personally particularly looking forward to scheduled pot to pot transfers, as I will be able to implement a money flow I’ve been wanting for a very long time. As was in another thread, you can now implement a “buffer” pot to smooth your income out. So if you get paid on a weird schedule or in weird amounts, then rather than reconfiguring things every time, you can just send it all through a buffer and pretend that you get paid the same amount on the same date every month.

I actually think that this is part of a larger approach Monzo should take across the app; namely that of creating higher-level abstractions. Here we create a sort-of virtual income to make it easier for the downstream steps. But other examples abound in the app, where we are too tied to the line-item transaction feed. In the same way that a company produces several abstractions at the end of a year (or quarter) - Profit & Loss, Balance Sheet, Cash Flow, etc. I think our personal financial lives, as presented to us by Monzo, could similarly do with some higher level abstractions.

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Superstore Dina Fox GIF - Superstore Dina Fox But Im Glad Im ...

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That is a real boon.

Yes, completely agree. Having to do 2 transfers to get money from pot to pot is definitely clunky, and it means you can’t schedule transfers as you can’t give pot transfers a set time to happen, so they could potentially happen in the wrong order.

I’d also like the new in-house Monzo Savings pot to be included in this pot to pot transfer feature request. Having true instant access to your savings is a massive improvement on the older external style savings pots however, the new savings pot still doesn’t show up like, or have the same features of, the standard user created pots. While I’m in a feature requesting mode, having the ability to set a time for pot transfers would be great too, especially if we’re still doing pot to current account to pot transfers, so we know the scheduled transfers happen in the right order.

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Erm :eyes:

Hello @DavidW & welcome :wave:

Best name ever :wink:

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Welcome, David.

Do you have any strong views on joint accounts, by chance?

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Thank you for the welcome David. You’re not wrong about the name :joy::rofl::joy:. I think you’re the only other David Walton I’ve ever come across, only took 43 years to find my name twin :joy::joy::joy:

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Thank you Peter :slightly_smiling_face:

Tbh, no, but only because I don’t have a joint account with Monzo atm so I haven’t seen the interface/features. However, knowing the opinionated little bugger that I can be, I’m sure I’d have plenty if I was using a joint account :joy::rofl::joy: