Round-Ups Paid to Credit Card


Thinking about the Round-Ups function and how handy it is, I thought it would be a good idea to set the function to pay things like credit cards with the Round-Ups.

I have a credit card and I think having my Round-Ups paid to it would help to pay it off quicker.

Is this something that others would benefit from if implemented too?


Hopefully with the upcoming integration with AMEX and hopefully other credit cards this could become reality. Good idea.

Monzo pays a small fee for every Faster Payments transaction so I imagine they wouldn’t be too excited about this.

Must be almost just as easy to pay your card with the money in your pot once a month or so?

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Yeah would be better maybe to send it to a locked pot that unlocks on the day of your credit card statement each month and then sends it then.

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That’s true depending on the type of payment method used, as it doesn’t have to be faster payment.

Plus, when doing bulk payments there’s usually a small fee for this which would mean that if Monzo distributed funds saved in round-ups per person, they could send a bulk payment out to the individual’s selected credit card, payee etc. every month.

Being a cashier, there’s always ways around sending payments without having to pay fees so if Monzo adopts the idea, I’m sure they’d do it on the basis they have looked into how to avert paying large amounts in fees, if any fees at all :thinking::slightly_smiling_face:

The usefulness of having round ups in a pot is that you can use it to cover whatever you want once it builds up. Integrating any/all of those disparate uses directly into the app is something I don’t really see happening just because it reduces the flexibility and adds complexity to something that i don’t think really needs it.

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I see both perspectives here, but I wonder if there’s an excellent compromise - automatically moving the contents of a pot to an external account on a set routine (daily, monthly etc).

On that basis, you could keep the roundups as they are, but set the contents of your round-up pot to pay off your credit card on a monthly basis.

Win win?

Could make a good IFTTT service if they ever get round to revisiting the services. Seems to have launched as a good thing then left to wither on the vine.


Happy birthday Colin :birthday: :partying_face:

I believe there are more triggers planned, no idea what though


I get where you’re coming from, but there are some people who would be tempted to withdraw from that pot before it goes towards debt/payees etc. which is why I threw the idea out there.

As for what Peter says, that’s a good idea if the pot was locked and couldn’t be opened without having to make the request.

The point of integrating a feature like this is so you can toggle between saving or paying off debt. Trust me, I’ve worked in insolvency for over 3 years and it would definitely help a lot of people in my view.


OK, I wasn’t thinking of it as a “whisk the money away before you spend it” feature which is why I was seeing it differently to you I think.

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That’s along the lines I was thinking because, unfortunately, a lot of people fall into the pit of debt because they see money available and spend it without thinking (trust me I’ve spoken to so many people who spend until their card declines) hence why Monzo’s features could help to train people, as well as adjusting their mindset to prevent them from falling into these pitfalls.