I have opened a savings pot with interest. It says “interest for november so far:” but shows nothing as of yet? Do pots show daily interest? So as an example, if the interest rate meant I was getting 1p a day interest, then each day in the interest for month so far section it will increase by 1p then at the start of the next month be paid to me?
Thanks
You need to have a good bit in them to show so early in the month really
In theory they show every day but i only have a small amount in so takes a while to build to to 1p interest
edit: 1 of mine is showing 1p (with Paragon) and the other (with more in from Charter) is showing 0p. A bit temperamental perhaps
It also takes a couple of working days for the initial deposit to clear.
It also depends how much money you have in your saving pot. I have £25 and in October it made me 1p 
Thanks all. Phew… Today it’s starting to roll in. Getting richer by around 1p a day, yay.
Anybody know if there is an easy way of getting to this screen on Android without scrolling back through to find a feed item about interest in a closed pot?
Never seen this screen before!
Can someone maybe from monzo add some clarity for me on how savings pot interest works. And also maybe update the following “how they work” screens to reflect this better @AlanDoe @simonb
So i have an easy access savings pot that i just moved some money into after being paid early on friday as you can see from the screen below.
I have not put anything more in this in the month of march. So my current pot standings looks like this:
Can i ask how the interest earned this month is calculated? And when is is calculated from? Does it only gain interest if in by a certain time that day? Is it only banking days? Does it need to clear?
My understanding is that once ive put that money in on friday it should have gained 2 days interest?
1760/100… *1.15… /365… *2 = 11p? 
Not a massive deal/difference but would be nice to know.
These are all questions i think that should really be included in this section or at least somewhere
Is this something i should maybe ask in chat? 
Let us know what they say. I would ask
Hey Nathan 
Deposits start earning interest the next working day, and the interest is calculated daily. So if you’ve added this on Friday it’ll start earning more interest on Monday onwards 
However with if the balance is kept as is, it’ll continue to earn interest even over the weekend 
We’ll put the interest you’ve earned into your Savings Pot on the first day of each following month. You’ll get a notification telling you how much we added to your pot.
I hope that all makes sense ok 
Do you think that’s clear from the sign up flow?
Good question. I hadn’t seen the T&Cs. I guess there’sa fine line between what’s in the sign up flow and what’s in the T&Cs.
Personally i think it should be in these series of screens somewhere. Monzo prides itself on making terms easier to understand, well this is something they could make easier as i personally had no clue
Will mean i lean on marcus more as a consequence
screen
I completely get that we definitely don’t want to make those screens too bulky but I can put this over to the team as a suggestion though!
Why are you not using Marcus at 1.3% interest?
It’s free money and it’s easy access. You are missing out on a fair bit.
I generally do use Marcus but like the visibility there in monzo for more short-mid term savings
Think ill use marcus in these instances from now on though too many caveats for the savings pots unfortunately
