Hi all, I just went trough all the replies and wanted to answer some of the main questions that came out:
Who actually owns the money in the pot? And what happens when people leave the pot?
@Frankiejr @nanos The idea is that the shared pot belongs to the creator of the pot. The owner is the only person who can withdraw money, although they can also decide on the type of permissions they’d like to give to the people they share it with (ex. add only, add&withdraw). If people leave the pot, money will stay with the owner.
yes, this is something we want to do
Is there any way to limit withdrawals if it shows on everyone’s account?
Yes, it should be possible to set up withdrawals limits. One of them could be to limit withdrawals up to the amount you’ve contributed.
If you create a shared pot, does everyone who it’s shared with get to see it in their “account” tab too, and if so, would there be any restriction to prevent them withdrawing money?
@tbutz yes, everybody will be able to see the pot in their account tab and keep track of contributions.
I’ve seen quite a few concerns around trusting people when sharing pots and I agree that we should definitely do whatever we can to make this feature as safest as possible. However, we can’t predict unethical behavior Good thing is that you’re only sharing a pot and in no way would the people you share it with be able to access your account’s information!
Could this support deposits in the form of monzo.me?
@Alexhurren maybe not at the beginning, but something to potentially consider as well. The initial idea is to be able to share it with people on Monzo as ideally you’d like everybody to get easy access and visibility to it.
I know, that would be awesome! Although, I think this should be part of a different conversation as it relates to pots in general and how they work
This is still early stage exploration but we’ll keep you posted