Saving Interest

It all stays in Marcus, you can only send and receive from one account so you could manually transfer it every month if you wanted to (as it’s an instant access saver) but you’d lose the interest on that interest.

If you have a monzo bank account the monzo integrations are easy. You set up a pot, chose which provider you want based on rate and type (isa etc) a couple of screens later it’s open with no more to do than press confirm. No ID verification since you already have a monzo bank account (but reading terms and conditions is strongly advised as with most things)

Monzo operates a hub and spoke model. They provide the current account and things like savings are integrated with other providers for greater choice

If you don’t have a monzo account (and why wouldn’t you) then just go to one of the comparison sites and see what the best rate is and open one directly with someone. As long as they have FSCS protection then all savings up to £85,000 are protected

Just to say Marcus is FSCS protected and only took some basic details to sign up, no ID documents etc. required.

I was up and running in a few minutes :smile: I love Monzo but was moving a bit of money from a pathetic ISA (went down to 0.3% after the first year :cry: ) so went for the extra interest with instant access.