You’re right they do, complete oversight on my part. Having said that they don’t allow non monzo people to take part, but that’s a separate issue
I think this would be a great addition to the app - specifically for shared holidays or gift buying among friends. Thrown in the ability to support payments made through a direct monzo.me link to open use up outside of a person’s monzo friends and it becomes a pretty solid feature.
Ability to receive notifications when anyone adds to the pot would be cool too.
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Collctiv are trying to solve this problem. The admin sets up a pot and then shares via SMS to anyone they want to for a request for money. Payment is taken digitally via Apple Pay, Google Pay or Card (facilitated by Stripe). At the moment Collctiv absorb the Stripe fees making it free.
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On one hand I’d like Monzo to build something like this so I don’t have to use yet another app. On the other hand, I don’t want to prevent a local startup from doing well!
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Are shared pots an option yet ?
I am looking to have myself and 1 other to pay into a pot for savings both of us have monzo accounts.
Thank you in advance.
Nope they’re not, sorry 
I’m not sure how it would work either or where responsibility lies for Monzo, the users or legally. Is one person the administrator? What happens if someone runs off with the money, fails to put in their share or has their account compromised to name a few? Who cleans up the mess?
I wonder how clogged up customer services would get with crazy stories?
“Me and my flat mates had a shared pot but Shaun put £7 less in this month which upset Ryan so he withdrawn £7 and then Philip took £10 which is £3 more than he should have and now I can’t afford to pay the bill. Please help” 
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Thanks for the reply.
You could open a join account, then the pots are shared 
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Thank you, Never thought of that 
Are are your financial credit histories for some years to come I believe. Do so with caution!
Isn’t this kind of what a tab does?
A shared tab is for shared spending, not shared savings
There’s 2 scenarios that would work
-
Joe set up the pot so therefore he is the admin. All users have put in equal shares. Joe clicks to collect the funds. Each user is sent a push notification to ask if they’d like to let Joe withdraw the money, all users click yes, the money goes into joes account and Monzo avoid responsibility as each user concerned and knew the risk.
-
Joe, jack and Gill have a shared pot, joe and jack put 100 in each but Gill only puts 50 and refuses to pay the rest. Joe and Jack are unhappy with this to they want to withdraw. Each user has a cancel pot button they can click at any time to terminate the pot, the total funds each user put in is returned to their respective accounts. Everyone got their money back, win win.
An extension to scenario 1 is once the purchase has been made, all users can click to attach a transaction from the transaction list to the withdrawal. Each user can preview it and if they’re happy click confirm.
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I guess it starts getting complicated once a pot has been used for a while. I.e the three people put in 100 each. Joe withdraws 200 then someone pressed cancel?
How does the remaining 100 get split?
What is this had been going on a year and people were taking in and putting out uneven amounts
Think bunq has this functionality as far as i remember?
Hows it work there?
Took a bit of work to track down, but… on this question Shared Savings Goal withdrawel - bunq Together we see this reply:
A shared Savings Goal is in fact a Joint Account. So, every member is equaly owner of all the funds. Every member can withdraw.
There’s no withdrawing. You either cancel the pot or hit the target.
Seems like it could be more hassle than it’s worth. i.e. lots of risk, little reward. Is it actually a joint account then and is there any feedback on this from their customers?
Just saving individually and earning interest on your own money is the better solution here in my opinion.
So the money disappears if you cancel the pot with cash in between people?
No as I mentioned in my original post, it’s returned to the original users that put in the money.
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