Interesting feedback. I think that custom images for pots would be a nice touch of polish but I don’t really feel it impacts my life at all. I just think that there are more important things Monzo can be doing for me like handling pay dates that change each month so I don’t have to reset my month start day over and over.
I’m interested to see a screenshot of pots in Starling to see what the delta is like if anyone’s willing to post them?
I do think of Full Monzo as using the account as your main account end to end (arguably not savings if there are way better rates elsewhere). My concern is that aside from myself, everyone I know hasn’t fully committed. If we don’t support Momzo’s model by really buying into it, what chance will it have?
So we moved all direct debits over from sole to joint and tried using the account for budgeting. And it has been the worst month in a long time for not understanding where our money has gone.
I am attributing this to how we were using pots on the sole acccounts to logically separate the funds.
We had the same problem after moving our DDs over to our joint account. After the first month things made a lot more sense as the summary becomes more accurate but my wife still struggles when looking at our balance to understand how much spare money we have.
There seems to be alot of pot developments going on in the background (joint accounts, committed spending, locked pots)
I also believe that Starlings implementation is better at the moment and a custom image would be fantastic to make each goal more relatable to what the actual goal is girlfriends bday, wedding, christmas etc
Lets hope with all these other developments coming they take the time to do more possible pots and custom images.
I find it really strange that so many Monzo customers prioritise “custom images” rather than the interest rate they’re earning. Is there a reason behind this?
Yeah, for me, custom images are an “oh, that’s cool” feature, but nothing more than that. Plus I’ve then got to go and source a bunch of custom images to use!
But interest is already being offered with the new saving pots?
I don’t care so much about custom images. I’d be happy with just having a larger selection of images to choose from, which could be done in hours rather than weeks/months for custom images
I have Marcus for longer term savings but goals/pots for me are shorter term and for less money. Id rather have the visual breakdown into distinct sections for my own organisation than the extra (1.5% prorata over 3 months?) £3/4 pounds id maybe get
Its nicer to see ahh i need to save £30 to meet my target for my trip to prague than throwing everything into one account and not having a nice breakdown of whats for what.
Thanks for taking the time to upload thise images @Recchan
I agree that it does look better though it wouldn’t be enough for me to shift loyalties at this point.
What I like about Monzo is the energy to get things done and the way they communicate with their customers (that’s not to say the other challengers aren’t doing that - I wouldn’t know). I felt they did a great job of blitzing through their big list this year though they will need to keep up the momentum next year and beyond.
Honestly, our finances have been worse since moving to Monzo too, we haven’t even moved our Dads, the net effect of having the pots separated from our joint accounts has meant we’ve lost site of our budgeting. I’m waiting patiently until the end of the year to see whether joint pots appear and if not, regrettably, I’m giving up
I get where you are coming from. With our previous bank we had two accounts, one for all the payments that would just run down to zero and the other for spending that we tried not to take to zero every month.
That worked really well as the money for bills was fully segregated with no chance of spending it by mistake.
Then we moved to using the sole Monzo accounts and pots which worked in a similar way of ring fencing money for specific bills/payments.
Now moving to joint and all that ability is lost. Committed spending still isn’t accurate, though I do think it will bet better in a month or so when payments become regular. Though I wish I waited until pots for joint accounts came out.
Love the Monzo joint account but like others have said, without joint pots it really causes problems with account management. I can’t continue to use my Barclays saving accounts like pots for much longer, it’s such a headache moving money around. I know joint pots are going through staff testing so hopefully won’t be waiting much longer for them. Hold in there guys!
I know the feeling, I’m also moving money around with my Barclays account until Joint pots make an appearance, I’m sure we’re overdue an update on where the dev team are up to… about two weeks ago they were testing them…
Another thing on my Pots wishlist is the ability to choose a main spending pot, to which all transactions and budget/summary information are connected to. Basically allowing to freely move money in and out of Monzo without messing up the pulse graph (or get rid of it already!), budgeting stats, etc.