Savings Pots Feedback


(Simon) #162

I just assumed that since the option is there I could use it. It wasn’t an option this morning.

Reinstalled the app and can now progress to a screen which says it’s not available yet.

Thanks for the reply though :grin::+1:


#163

:see_no_evil: I didn’t look at your pic properly - My bad!

Edit - Out of interest, did you receive an email about it?


#164

Me too :sob:


(Simon) #165

I didn’t get an email. Actually went to create a pot for something else and got excited, thought it might have been enabled for everyone.

I checked this morning after seeing someone on here say it’s enabled for everyone and didn’t get the option at all


#166

I’ve just checked, and I can see the option now!

But when I tap on it…


(Richard Cook) #167

@nickh @SeMond @monzo2018

Thanks for letting us know about this. If you’re not in the rollout group yet, you can still see the option to create a Savings Pot, but there’s meant to be a ‘Coming Soon’ message. That was briefly not working properly - but is now!

You’ll hear from us when you can create a Savings Pot :slight_smile:


#168

Thanks Richard - I tapped the “tell me when they’re available” button anyway - Out of pure curiosity.

I’m assuming it wasn’t necessary, and people will be notified anyway (or does this speed it up somehow?)


(Tom) #169

It puts you to the back of the queue! :wink:


#170

Noooooooooooooooooooo!


#171

I would suggest that Monzo’s option is among the best available if you only consider easy access savings accounts without withdrawal limits from banks which also provide current accounts. This is relevant for people who want to do all their banking (current account + savings account) with a single provider.

I believe 1% is better than anything offered by the big high streeet banks (excluding regular savers and high-interest current accounts which limit the size of the interest-bearing portion and come with terms that some may not be able to meet). I think there are only a few current-account-providing banks who better 1% for easy access savers (Tesco and Post Office do, but I don’t think there are more than 3 or 4 who beat 1%).


(Kevyn) #172

These are all easy access accounts. Being able to withdraw from them without penalty is easy access, even with a limited number. Also narrowing it to high street only banks isn’t a fair comparison as Monzo isn’t a high street bank.

In the whole market of easy access accounts Monzo’s offering doesn’t meet anywhere near the market leaders.


#173

I would like it if there was a way to see how ethical the provider is when opening a savings pot.
I opened mine thinking the ethics were the same as Monzo but I’m starting to think that I was wrong?

What are investec’s ethics?


(Chris Rimell) #174

Might find some “light” reading here: https://www.investec.com/en_gb/welcome-to-investec/corporate-responsibility.html


(Miguel Moragues) #175

Great, thanks for the info. Bruce. :slightly_smiling_face:


(Ravi) #176

If you artificially limit the competition to highlight your own strengths you’re always likely to come out looking quite favourable.

I’m amongst the best looking middle aged Indian guys on my street I’ll have you know :wink:.


(l8n.me) #177

I thought i’d opened Tinder by mistake for a minute there…


#178

Didn’t say they weren’t easy access accounts and wasnt limiting to high street banks.

My point is there are few current-account-providing banks/building societies with easy access saving accounts with rates better than 1% (i think there are only 4). This is relevant for people who want to do all their banking through a single provider.


(Adam) #179

At the end of the day, it’s there. Either take that or leave it. Monzo are now providing their users interest on their savings so that’s nothing but a good thing. There are other options if it’s not for you. For some it’s the perfect fit and for others (like me) have found something better elsewhere. It’s better to have more options than none.

To be honest if the Marcus account hadn’t come along I’d have been all over this despite the interest rate. Just for ease of use and it’s all in one app.


(Ravi) #180

Indeed.

But whether we take it or leave it isn’t the whole point of having a forum to discuss it?!!


(Adam) #181

Of course! Was just saying it how I felt :grin: