This would be awesome. I wanted acorns but like usual, only available in the states. To tie this in with virtual accounts would be great. The ‘change’ could be put in a virtual folder and then if wanted put back in to your main folder at the end of the month.
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Features such as this could be categorised as add-ons so they don’t interfere with regular users who just require the basic functionality. Users who have an interest in expanding the app’s feature set could make use of a range of add-ons (maybe create an API so 3rd party developers could get involved?) The best add-ons & features could eventually be pulled into the standard app.
Getting out of my depth here…
Agree with @marty to keep it clean, it should be basic and then you can choose add ons if you want. I had this feature with Bank of America and whilst it was kind of cool to see your savings account slowly growing, it was a pain in the arse to turn off - as so many settings and not a clean / clear portal.
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I’ve been thinking about this rounding up purchases to save the change and I really think it could be something. With the API I’m assuming there’s a possibility to link in with IFTTT.
You could get really granular control over what would be rounded up or even moved to savings. If I spend at Starbucks then round to the nearest £ and move 10% of the total cost to savings.
Combine with Virtual accounts and you can run away with possibilities.
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I would definitely love this feature! Would enjoy watching the savings trickle in while also removing the annoying decimal number.
Either this or we force retailers to stop pricing items at 99p or 2.98 or whatever crazy variation they seem to land upon 
I had this years ago in my Spanish bank account (10+ years ago).
I loved it, I used to save an average of 1200 euro every year without even realising it.
It would round up to the nearest 5 euro.
So 1.5 euro would add 3.5 to the savings account and 4.90 would mean o.10 euro.
Lloyds seems to have copied the concept almost identically except that I believe they round up to the nearest pound so it’s not as impressive after a year 
That’s some heavy rounding up they were employing there. I don’t think I could cope with that!
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That kind of rounding up would make something that is otherwise pretty inexpensive (a latte at work for example), to be a pretty damn expensive item! So it could cutting down on my spending and thereby increase my potential for savings if everything I bought would cost at least a fiver: I would think long and hard about every purchase. 
Or would I just buy extra stuff to make the transaction closer to £5…? Which kinda defeats the whole idea! 
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Since you both mentioned it I had a look. I left Spain many years ago so I’m not surprised I missed some details. Apparently it wouldn’t round up anything under 5€. But spending 6€ would result in 4€ “saved change”.
I mean, it could be either to the nearest £5 or nearest £1 and it could Even be user selectable. Who knows. Either way I like the idea.
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That’s definitely a better way. It’s amazing I haven’t heard of this sort of thing until recently.
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Guys take a look at my suggestion about adjustable savings per transaction
https://community.monzo.com/t/piggy-bank-save-on-each-transaction?source_topic_id=2164I’ve read the different suggestions in this thread and definitely like the whole concept but my preferred option would be the rounding up to the nearest £1, or I suppose a user defined option. For me anything other than just a simple roundup would I fear be stripping out too much money from my none to rich account. Saving is a good idea but not if it empties your account lol. The small change from a pound would certainly be a nice bonus though.
As somebody said Mondo shouldn’t be bothered as some of the old banks do it my opinion there is that Mondo aren’t trying to completely reinvent the wheel, some of the ideas that the current banks peddle are good and useful ideas. Don’t just dismiss them because they’re part of an outmoded culture, if they add value and use to Mondo why not use them?
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Force retailers?? Retailer set the rules not prepaid card issuers. Lol. . You make mondo sound like a Regulator.
Just going to say that TSB isn’t part of Lloyd’s banking group. The reason their systems look like Lloyd’s ones, is because they are. We maintain them atm.
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I really can’t upvote this enough, this is an AMAZING feature that I’ve switched banks for before.
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If it’s popular and optional then this could be a good feature. I use it on my TSB account and you don’t miss the small amounts until you realise how much you’ve saved over a month.
Isn’t it MasterCard /Visa who set rules for both card issuers & Retailers? I think you will find that to be the case.
I love this idea, never heard of it before.
In the old days I used to put all my loose change (anything less than a pound coin) in a jar and would save up several hundred pounds a year. But now I barely ever use cash, so the jar is empty. This would be a great replacement. Love it!