I was just wondering if Monzo CA would have a save the change like Lloyds or something like Moneybox does? For example if you spent £1.20, .80p would go to the savings or may be invested in funds or something like that. That would be amazing!!!
Just to add few pennies to the weight of this topic, I agree that this would be a great addition and have used similar schemes in legacy banks. With the pots idea, this could naturally flow into our chosen pot without a thought. Passive savings are winning savings…
Yes. This is a great idea.
I currently use:
- Chip ( https://getchip.uk Use referral code: MZHUYJ for extra interest )
- Oval ( https://www.ovalmoney.com Use referral code JW4VNNLU for £5 added to your first save )
- MoneyBox ( no referral code, sorry )
For saving money on this basis.
Passive savings is a fantastic idea and it’s incredible to see how saving little and often soon mounts up into some big figures. To do this within Monzo would be a fantastic idea.
Adding a save change feature would be good and keep pace with competition
for your information this list previous threads / posts on this subject
a simple search of ‘save the change’ would have saved you making a thread
The search function is the frying pan logo at the top of the page
@GMc Yes, I hope do something like this, I’m using Moneybox with my Starling card
For Android owners, you can now download Oval Money for Android and still use the referral code JW4VNNLU for a £5 bonus.
I found this very useful when i banked with lloyds bank
TSB do this and I really like it- for me it ends up to about a tenner a month automatically saved on top of whatever I throw into it myself. At the minute there’s less throwing into it than clawing back out of it a few days before payday, but hey, times are tough haha
It’s one of those “is it worth their hassle for the number of interested people” things though and as Monzo won’t be my primary bank I don’t know if I would be motivated to push for it or use it myself if it was offered.
ETA: whoa, I got whooshed! Looks like this isn’t the first time it’s come up then
I think Dust is destined to deliver this for Monzo, for those who would like to convert their change to crypto currencies. Interestingly it appears to be run by a Monzo employee - I assume Monzo has a stake?
This is exactly what I am looking for “saving for the hard of thinking”. There are services such as Plum that do this.
+1 for this, it could even just save the spare change into a pot - I would love it!
Does anyone have any more offical word on it? The threads been going for a while now, is it still in the ideas board?
An option to turn round ups on and then all roundups go into a roundup pot
Lloyds already do this, very good idea, my better half has about £500 in her savings because of this. Would be such a great feature.
Probably loads more work, but an option to round up to the nearest pond and donate that to a chosen charity automatically would be pretty cool.
Last week I opened a TSB account. If you’re of a sensitive disposition please read that again. Carefully. No need to flag this post.
TSB also do Save the Change. Just open a savings account alongside the current account (I know. So legacy) and you can use this savings feature.
@gallifreyangirl …perhaps of interest to you, too?
I’ve used the API to notify me everyday to put my ‘save the change’ pennies in to a pot, for now it works for me, will be better once we can use the api to transfer money
@anon70107404 all up and running with TSB and using as main account with the Monzo and Starling as other accounts if needed. Do you know which savings best to open as would like to use save the change.
I opened the eSavings account