Starling’s Goals feature directly impacts on overdraft debit interest charged too.
Yes Starling will see the balance in goals and account as “one” even though the Goals are sealed off from main balance . You will get interest for all and will count when you use your overdraft.
So testing Monzo pots. Good for an initial offering. Easy to add and withdraw money. No custom pics yet or regular payments like Starling. But for a version 1 it’s pretty good. Also hasn’t cluttered the UI which is good.
Is this on Testflight?
The UI is the biggest win. It’s a much cleaner interface with pots than Starling’s goals which feels like it’s just been bolted on!
Not sure if this will be on Android in time, but could see Pots being a great way to save for things like Christmas!
It is… v1.9.19 was released last night.
Yes it is in TestFlight.
I think Monzo does just win on the UI here for implementing pots. Its very clean.
But as Monzo do add more features will be interesting how they keep the UI straightforward.
On Starling though if you have several pots you can see them all on one screen. With Monzo it looks like you need to cycle through them.
I’m sure it’ll hit android soon enough - they wouldn’t delay it months. No sign on the latest beta yet though.
I am on so still waiting for sign of Pots on my phone and account, however, at the moment, what I am reading here does not inspire me to move any of my Starling Goals to create Monzo Pots.
Hope I’m wrong.
Will see when I assess it for myself and how I intend to use it.
That’s the joy of both features. They can, on the most part, be manipulated to work how you want to use the elements available to you.
For me, the ability to make regular payments into the Pots is a must.
At the moment, I have one payment go in to my Starling current account and then the software splits that into fixed amounts and sends it to each Goal. No additional work on my part after initial set-up.
I agree with another poster though, that Goals does appear an add-on rather than an integrated feature as you need to access it via a side menu instead of a button on a tab bar.
That is an interesting UI decision because on iOS Goals are on the bottom tab. But every platform has its own design language. But interesting.
But regarding Goals vs Pots I do prefer the Monzo UI but Starling regular payments does make it more useful to me at present.
I agree that as and when the process of automatic transfers from the main account to the POTS is in place that will be brilliant but for now and on 1st iteration I am glad that POTS is being bought in as it is better than the process I use currently which is all manual and a spreadsheet! - Roll on automatic transfers but good work.
They’re actually under account and then you need to swipe from the card screen… they’re not its own icon
Just got pots and I love it so far! Sorry if it’s been mentioned further up but 2 things I’d love to see from here are:
Direct debits and standing orders coming from Pots directly (So I could setup all my bills to come out of one so I won’t overspend into non-disposable income)
I’d love to be able to transfer in non-increments to pots. Right now I can do increments of £5 but say I wanted to do, £5.50, I cannot right now
Hope these get addressed as the feature continues to grow. Love it so far guys!!
Hopefully rounding-up into pots can arrive soon.
The only issue I can see is if you have more than 4 or so pots, scrolling would be a little bit annoying.
Roll on Marketplace pots
Great start to pots and can’t wait to see where Monzo goes with them.
I echo most people’s comments and would like to see direct debits and standing orders come from a pot, however unsure if a sneak peek of breakdowns kind of covered this under the committed spending section. It looks as if it does this automatically, which would be better than moving funds to a pot to pay your bills. I think it also mentioned targets would be multifunctional to include savings targets and not just spending targets. What am trying to say is, the functionality that I would be looking for in pots looks as if it would be available within the breakdown section sneak peek.
I know other people have already mentioned these, but I’d also like the the following -
Ability to schedule regular payments to a pot.
An account sweep on a certain day, moving the balance to a pot.
Save the change to a pot.
Lock a pot for a certain time period to prevent dipping into it.
Again great start.
This is I’m waiting on being able to simulate the account / payment setup I’ve had with multiple accounts at my highstreet account.
Salary goes into a current account that DDs also come out of,
Disposable income moved into a savings account,
Weekly a portion of the disposable income is transferred into another current account, meaning I can only spend that which I know is available.
Pots would allow me to achieve something similar if I could set DDs to come out of one of the pots.
Scheduled transfers into / between / out of pots would be awesome too as would a save the change option.
I’m looking forward to seeing where this goes