Save The Change 2

[anon81175141]

Hi,

Received my card and very pleased so far. When you become a licensed bank and offer savings etc I wanted to raise the following.

1 Sweep

Option of an end of month sweep to savings account. ie when you want (normally when your new pay cheque comes in) it would be good if there was a simple sweep button that allows ppl to save any remaining cash in their account so that you start each month with the exact same opening balance.

ie on 30th you have £54 in your account and the following day your salary pays in 1000 - your account would automotically sweep £54 to a savings assount / isa.

2 Round up

round up any items to nearest 50 pence or 1 pound and again save - ie if you buy an item for £1.73 your account will be charged £2.00 - with 27 pence going to your savings…

[Bob]

The round up feature has been discussed and is definitely something i would also like.

Save The Change 1

Hey all, This may not be something others are interested in but I thought I’d throw it out there as I find the concept interesting. This app/platform/whatever-it-is ‘Acorns’ rounds all your purchases up to the nearest $ and invests the change in a diversified portfolio. What if Mondo allowed users to do this, but put the change into a separate savings account? Unsure how significant the savings would add up to be, but could maybe get you flights somewhere fun after a few months? Just a thoug…

I really like the sweep idea too.

[anon50039658]

Thanks @anon81175141, both of those would be awesome @hugo and @anon173672 are looking at budgeting designs v. soon and I imagine this’ll be really helpful!

[anon86499730]

Sweeping excess into Savings/ISA would be absolutely amazing.

[alexb]

@anon81175141

1 Sweep

Option of an end of month sweep to savings account. ie when you want (normally when your new pay cheque comes in) it would be good if there was a simple sweep button that allows ppl to save any remaining cash in their account so that you start each month with the exact same opening balance.

ie on 30th you have £54 in your account and the following day your salary pays in 1000 - your account would automotically sweep £54 to a savings assount / isa.

Love this - would definitely use it!

[anon66137316]

I love my Mondo card & will keep using but worth pointing out that many existing banks have those Sweep & Roundup functions (First Direct certainly do).

I think Mondo will need to have these sorts of options as a minimum when they get the licence and then look to offer other features that traditional banks just don’t…