(Richard Grey) #393

I’ll second that! The ability for pots to have their own SC and AN for Direct Debits is a massive benefit.

(Huzaifah) #394

Agreed, direct debits and standing orders from pots would be awesome.

Early stages though. Thanks to Monzo for working hard on this and I’m sure they’ll implement some awesome features into pots soon.

Would also be awesome to click and make a pot the active ‘card’ in a sense. So if I made a payment say to my car insurance, it will come out of the pot, then I can make my card default back to the default card

(Laura) #395

It sure seems like people around here don’t understand the concept of MVP (minimum viable product not the American equivalent of man of the match).

Pots was always going to be somewhere you could put some money you didn’t want to spend. They’ve delivered that. I’m sure future iterations will improve functionality, but they’ve started with the basic architecture. All while still working full tilt on the current account roll out. I’m impressed we’re getting any new functionality at the minute.

My email account is just cluttered with people whinging this morning. But I now have a brand new pot to pop money I know is allocated. Saves me doing daily remainder spend maths.

Great job guys!!

(Adam Kendrew) #396

Me too. Or the ability to put custom amounts in. At the moment I still transfer the ‘spare change’ (so say 30p here and there) to my NatWest so my Monzo is always a nice round number. Be nice to keep it all within one account!

(Sacha) #397

Loving the concept. Whilst I’m guessing in theory there is nothing to stop people having multiple different accounts for each and every bill, wouldn’t that cause problems to those people with credit rating agencies when they show someone holding 15 different accounts with the same provider? I see it more for short term savings: holidays, mortgage deposit, Spurs season ticket :grinning:

I’d also like the option to auto-transfer to pots, but I’m sure it will come in a future update. I would say there are more pressing priorities right now like the ability to top up and that fruity payment system.


Custom pots images you say?

(stolen from @tomsr)

(Richard Grey) #399

As a pot isn’t a credit related product, it won’t get reported to the CRAs.

(Frank) #400

Great that pots are here but would be really good to future date payments in and out or recurring in/out.

Good work guys. Sure the rules/alerts will be soon.

In its current form I would happily use the pots in conjunction with an overdraft. So the overdraft covers the initial debit then I can transfer from the pot.

@tristan are overdrafts still being rolled out/tested? Would really like to trial this.

(Frank) #401

We officially only have one current account as far as credit reference agencies are concerned. And they are only interested in debit balances. :+1:t2:

(Brexit Day Is Gonna Be Shamayzing.) #402

As per app just now

(Sacha) #403

Fair point. Though having lots of bills going out of individual pots would significantly increase the chance of inadequately funding one by accident and getting a failed payment, which would be reported to the credit rating agencies.


Apologies if this has asked been before. What would happen to money in pots if your card was stolen/cloned and used? Let’s say I have £500 in my account and another £4500 stashed in pots. Is the money in pots separate to that which can be accessed by using the card?

(MikeF) #405

Until the feature is actually released in a couple of days we won’t know for sure but I believe that we’re heading for a starting place where pots will need to be emptied into the main account manually (i.e. in the app) to avoid transactions being refused.

(Bob) #406

I would say that this is currently the case, given that the account balance shown in the home screen does not include funds held in pots. Since the funds held in pots appear to be ring-fenced, you would currently have to manually transfer these funds to the main account to access them.

(Fraser Kininmonth) #407

This will be the thing that finally makes me switch to Monzo as my main bank!

(Bradley) #408

Really excited for this!

(Alex Sherwood) #409

The money in your Pots can’t be spent, here’s the confirmation pop up that they ask you to acknowledge because obviously that has quite a few implications -

(Wolfgang) #410

I would love the option of keeping my spending money and my monthly expenses money separate within Monzo.

At the moment I have my salary paid in to my bank and I calculate all the bills due out that month and whatever I have left I transfer to Monzo so I know whatever is on my Monzo is all I’m able to spend that month.

I would love to be able create sub accounts, essentially so I can just create one that I can transfer my bill money to and allow direct debits to come out of it instead of my main account so that I can transfer however much is due out to that one and leave my spending money in my main account so I know whatever is on my card I can spend without worrying that I’ve not left enough for something that hasn’t come out yet

Would be great if you could set it up so when your salary is paid in, it will check last months transactions in your expenses account and automatically move the same amount again in to this sub account and you can see a list of expected transactions and dates based on last months activity and you can edit them if you know something is going to be more or less that month.

For me something like this would be incredibly helpful, just so when I use my Monzo card I know I’m spending money that can be spent and I’m not forgetting about something I’ve not yet paid for!

Sorry if something like this has already been shared, I couldn’t see anything and it’s my first post!


Some users have suggested similar things in this thread please check this and you’ll be glad to know it’s coming soon

@tomsr sorry for keep tagging you hope you don’t mind mate

(Wolfgang) #412

Thank you, I do like the idea of money pots however this isn’t the same as what I was looking for, I was looking for something more substantial so I can solely manage my bills and Zoe ding money separately, with a cash pot I would have to put the money aside and then transfer it back in to my main account when it comes out

I’m essentially wanting to remove all bills from the main account and keep them under a sub account so they don’t even touch my spending money, I would like it to act as if it had its own account number so direct debits and payments can come out of that sub account and not the main one

Maybe you can add specific payment references or merchants to come out of this other account, maybe an add feature where you can select from a list based on previous merchants that have taken money and frequent payment references and such.

The idea is to try and have the capability of two accounts all under one hot coral roof