✅ Schedule payments and pots

There’s no doubt that on toast help me to organise my money in a way that no other bank has helped me to do.

the one thing I would really ask is as I’ve moved every single bill into their own individual pot, which is an absolute godsend when you’re paid four weekly, I’d like to be able to do the same or at least similar with my scheduled payments.

I subscribe to Google drive, Amazon prime, Netflix, and have a gym membership. None of these are paid by direct debit.

It would be great to be able to at the very least choose for schedule payments to come out of a separate pot, or more ideally each one of their own pot. They’ve all been identified as a regular payment so why can’t this be set up as a payment from a pot.

my second request would be the ability to have more pots than currently allowed. I appear to have hit a brick wall which means I have a couple of bills coming from one pot which isn’t ideal. Can we please increase the number of pots we can create?

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Out of interest why do you have a pot for every single direct debit and not just a ‘bills’ Pot? Sounds like a lot of maintenance.

As for standing orders this isn’t possible. Have a search on here and you’ll see it has been discussed at length if you’re curious why :slight_smile:

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+1 for Bills pot. I’ve added the amount I need each month to the title so I know how much I have to put away. Looks like this:


Wish my Avro was £29 (£45) :rofl:

+1 for a Bills Pot.

Currently houses National Trust and English Heritage DDs, so one payday scheduled deposit into pot to cover the DDs and they’re sorted.

Household bills will be included in it from November, once I CASS over my Santander 123 Lite account as it becomes not worth it post fee change 27 Oct 2020.

The amount in the title is something I used to do in early pot days, however, am comfortable without (currently).

If I was paid four-weekly, which I was many years ago and 13 paydays a year was great, I would still use just the one bills pot.

In respect of subscriptions, I would probably have ONE pot for all of these, credited each four-week cycle by appropriate amounts to cover them, then schedule a withdrawal back into main account a day or two before each subscription is due to be taken.

I do, however, have the luxury of a ‘float’ in my main account balance and don’t run it at zero, so lower risk of failure than some other customers.

Don’t you just love the auto-correct on our phones. Drives me :crazy_face:

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Poached eggs for me this morning. :yum:

:rofl: Porridge :bowl_with_spoon:

. . . but we digress. :grin:

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So the benefit of having a separate pot for each bill is that no matter when you get paid you always have the ability to replenish each part individually and know exactly how much needs to be put aside for each bill. You can set a target for each pot so I’ve set the target as the amount of the bill currently is.

Standing orders is possible. It’s recurring card payments which isn’t possible.

@bluegrintfuttock vote for recurring card payment support here

That seems like a lot of micromanagement. Have you ever tried a halfway house between this approach and a single bills pot - perhaps four bills pots - one for each week of the month?

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You’re paid monthly though right? which is the same as me. So when you get paid you simply dump all your bills money into a pot? so not sure why you need targets and such, but if you did you could set a target on your bills pot for the total of all your bills? And as for seeing how much each bill is, that was shown in the screenshot above.

I understand that everyone manages their finances differently and if it works for you that’s great :slight_smile: I just think you might be overcomplicating it and making life difficult for yourself.

There’s also a pot limit. So if I was to setup a pot for every direct debit and standing order I’d hardly have any available for anything else

Nope. His original post states Four Weekly, which can be a blessing or a curse, depending how you budget.

I get paid four weekly which basically means in each billing cycle I have to put aside a different amount depending on what bills for within that billing cycle hence a pot for each bill means I only put aside that which is actually needed.

You can do two things.

A - set budgeting period to 4 weekly or monthly
B - Also I have one dd that’s 4 weekly you can also tell monzo that too.

This means on the day you get paid you will see.
(This is how I have it set up on joint account )
One pot for direct debits & one pot for standing orders
I look in the pot on the morning I get paid and it tells me how much I need in pot for my budgeting period. So all of them get paid.
All i need to do is allow for a direct debit that may have a different amount from the one last month.
Move that amount in to the pot.
Put some extra in my other pots & personal Account for personal spending.
the amount left is my shopping money for month.
I’m sorted of the month

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My problem is not with the direct debits I’ve got that working absolutely perfectly and how I would like. What I would like is the ability to pay repeating card payments from a pot not the main account

If you are not using a Joint Account, you can use IFTTT to be able to do this until Monzo get it working natively.

The downside to this is that you do need to have enough funds in your account for the payment to go out in the first place as IFTTT runs after the transaction has occurred.

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It’s really not if one Bill changes I only have to change its target to the new bill amount, and I don’t have to worry about adding up all the bills to work out what the new amount should be.
Also council tax is only 10 months of the year, so during those months I would have to do the mathematics to subtract those from the total.

If anything one setup there’s no management at all just keep the pops topped up, when you get paid.

I also have three pots named week 2, 3 and 4. once all the bills have been paid and then divide what money I have left at monks house three pots so I don’t end up with a week with no money at the end of the pay period.

Game changer. Thank you

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If it helps you can request to pay over 12 months

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What do you mean? It is

That was cleared up earlier in the discussion. I was mistaken and it’s recurring payments that can’t. My bad.

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