Savings Pots with no access

I’d love the ability to add a savings pot that can have settings applied for withdrawal limits.

For example.

  • 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.

Locked pots used to be stricter, but all that happens is that people would just go to support to ask for it to be opened. So I’d say it’s unlikely it’ll come back.

its a shame. Even having to get them unlocked by support might be enough to stop people from spending it.

I have no self-control when I see cool gadgets :slight_smile: the current locked pots that just need you to click unlock won’t stop anyone

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:

Notice Savings Pots / Accounts

I like the idea of having a savings pot that can’t have a virtual card attached with 24 or 48-hour delay before money can be withdrawn. Clear indicators that withdrawals have a delay when setting up.

I get that people would contact customer services but much like the gambling lock it should be something that they can bypass once set up.

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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

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Good idea in theory - difficult to implement in practice

I mean this in the nicest way, but that is one of the worst ideas I’ve ever seen on here.

I love this reply, so polite yet brutally honest.
Really appreciate the feedback.

What if other half says no? Do you then go to Monzo and demand it’s unlocked because it’s your money?

Quite a complex picture here, don’t mean to be dismissive as I see your view, but rather the complexity and potential impact on business and customer :sweat_smile:

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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?

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Try Buy girlfriend surprise washing machine. See how that goes.

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As bad as a dishcloth and cif I guess.

I don’t have a joint account but is there not the ability to lock a pot so it can’t be unlocked until approved by both connected to the joint account? if not that maybe be a good idea

In the case of separation, what if neither ever agree to unlock the pot :worried:

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You could then ask what if you split in the first place? is it the first person in the app who gets the money?

The money should sit there until an agreement is reached, after all, there are adults and should be able to sort that situation out… but I do appreciate not everyone can be reasoned with

People can be stubborn as hell, especially if emotion is involved.

Don’t think I’d ever have myself in that position

Joint account yes, we use it for essentials, as much as I believe he’d never steal anything for any reason, I’d still never have my salary paid into a shared product. :joy: