I’d love the ability to add a savings pot that can have settings applied for withdrawal limits.
Can’t withdraw anything from pot until XXX date. Good for saving for a 2025 holiday or wedding for example.
Can only withdraw XX % of the total savings each month.
Withdraw with a delay of 1 month. To stop them one-off madness moments that ruin savings. For example, if you are saving for a holiday you can make a request to withdraw but you can’t get the money for 30 days.
I’m sure there are other settings that could be applied but this is just my first thought.
Would be interested in more restricted access options (in particular notice accounts), but not really for the reason of removing spending temptation. I’d want to be rewarded with higher interest rate in return for restricting ease of access.
Recently posted an ideas thread for notice pots with enhanced interest rate:
Along with Withdrawal delay - perhaps an option to set up a guardian.
When you issue a withdrawal request an email gets sent to guardian to approve withdrawal for instant withdrawals with additional option to by pass completely with a X days delay.
Girlfriend can approve you to buying washing machine from wedding fund. - instant withdrawal.
By Pass Guardian and request withdrawal within 7days to book surprise honey moon.
Trying to book Vegas Stag instantly on night out - payment rejected pending above two rules
As mentioned at the beginning of the topic, pots used to be lockable but they were openly abused and caused customer services to get swamped with unlock requests. No matter how much you explained or tried to reason with people not to lock pots unless you really know you’re not going to need it - they ignored it.
Some people actually did it on purpose as a way to stop them dipping in mid week, then each weekend would message CS to unlock it.
We then went through all sorts of possible alternatives. Watch a video of yourself trying to talk yourself out of it before it unlocks, have a PIN that you hide away, nominate a “guardian”… the list was huge.
Ultimately it all came to the same conclusion. It would still mean people would abuse the feature and customer services would suffer. A classic case of the minority ruining it for the majority.
Remember that forum member who was convinced that locking a Pot made it more secure from hacking/theft, and would not change their behaviour of constant locking and messaging Support about their locked Pots?
(Press ‘Help’ search ‘Contact us’ or email firstname.lastname@example.org or call 0800 802 1281)
Try Buy girlfriend surprise washing machine. See how that goes.