Regular payments into pots


(Sam Exton) #1

I recently came across this old news article: http://www.independent.co.uk/life-style/how-much-money-need-save-each-day-become-a-millionaire-age-65-a7722426.html

and it reminded me of the pots feature on the Monzo app. I haven’t played around with it too much, but it seems as though you have to manually select an amount to put aside into one of these pots.

I thought it’d be cool if you could set up a “recurring” deposit of money into the pot, at specific intervals. That way, small amounts of money could be trickled into the pot which of course adds up over time. It would give me (and I’m sure many others) more of an incentive to “save” money in this manner than directly transferring larger amounts away from my main balance at once. Not sure if it’s already been suggested. What do you think?


(Simon B) #2

Definitely. We really want to do this, amongst many other improvements to Pots! :grinning:


(Darcy Hegarty) #3

I think it would be great to see scheduled payments into and of out Pots.

I put all of my salary into a pot and everyday I move £14 into my main account. It’s basically saying this is how much I can spend each day. It would be great to have this automated.

In addition, having your salary placed directly into a pot when it enters your account.


(Alex Sherwood) #4

There’s now a sneak peak for this functionality in the app (in the Help tab) :smiley:


(Darcy Hegarty) #5

Yeah I saw that! It looks great! Hopefully you can schedule the transfers in both directions :blush:


#6

Both directions would be fantastic, so would the ability to set direct debit payments to be taken from a pot.


(Alex Sherwood) #7

I agree! To help the team to see which functionality users want them to add to Pots next the most, please vote on this poll :raised_hands:

Launching Pots

cc @sensible


(Dafydd Thomas) #8

Would be great if Pots could be programmable. Like, “When [condition] move 10% of [balance/transaction] to a pot”.


(Graham - Mental health professional) #9

Hi @alexs

Do you know where this is currently sitting planning-wise?


(Alex Sherwood) #10

You can now schedule regular payments into Pots using IFTTT :smile:


(Graham - Mental health professional) #11

OK. I’ll have a play, but this is a brand new challenge.

Is there an expectation that this sort of event will be built in to core functionality, or does Monzo see IFTTT as the way forward.


(Alex Sherwood) #12

Well if I recall correctly (sorry, can’t find my source), they’ve said that they’ll see what users use IFTTT for the most, to guide their product development..I’d be very surprised if they don’t build this into the main app, as it’s obviously a common use case.


(Richard Cook) #13

It’s both planned and coming soon :wink:


(Graham - Mental health professional) #14

Great, thanks Richard (and Alex).

(I’m starting to see what all the buzz is about :grinning:).


(Ed Stubbs) #15

Is there any plan to allow users to upload their own photos for each pot in the new developments? A simple feature but one which a lot of people would enjoy!


(Sufi) #16

This is available on Android latest beta now.


(Chris Rimell) #17

Ah, just after i setup my applet in IFTTT :tired_face::stuck_out_tongue_closed_eyes:


(Richard Cook) #18

6 posts were merged into an existing topic: Feature parity between iPhone and Android


#19

@simonb - is there a timeframe on this improvement at all? (for iOS, to clarify).

I have just gone full monzo and applied for a joint account so trying to get all my ducks in a row, so to speak!


#20

Hey peeps it’s here with the latest update.

Or at least you can set them up. Whether it’s switched on yet I shall find out at the end of the month.

Download the latest Android update > Payments > Schedule Payments > Manage

Thank you Monzo :+1::grin:

4 IFTTT applets now switched off. Short lived.