From the wording on a recent (a few months ago) Monzo survey, I think this is the way Monzo will be heading too. If it’s not in the pot, it declines.
Which I do think is worse, but it might be how it needs to be set up and keep them more seperate to stop the “payment in, payment out” dance in the feed.
I have a theory that that’ll be for Plus customers only - where the money comes directly from the pot like cards do. I hope the current implementation will remain and be free!
Not really though? If they can collate total amount spent at Netflix through the data they get why can’t you set it so that Netflix comes from a space. Something obviously is consistent for them to be able to provide a total and average spend at a merchant.
I don’t see why we can’t choose what we want it to do in this situation. Surely that is the best solution?
I presume it’s how the hierarchy of accounts is set up.
Account > Pot currently. But if they change it and one isn’t above the other (from a technical point, not from what we see), then it can’t go checking it multiple places.
Purely guesswork!
Gentle reminder we’re currently in the Starling topic!
I wonder when they’ll IPO? 
I do prefer starlings way of not including the transactions on the main feed though, the one thing i hate about monzos implementation and actually caused me to turn it off was the seeing double transactions for bills.
Made the feed horrible to read, especially when you included daily money challenges from it like i had
Is that confirmed? Have you trialled it?
Bill Manager (Mr? 
) sounds cool but the declining payment if the pot doesn’t have the right balance makes me feel a bit uneasy.
The whole point of these bill pots is to add some extra security/peace of mind that you can put the money aside into a separate pot away from your main expenditure.
Declining the payment because you didn’t put enough in the pot makes me feel less secure about using it. Some bills like council tax are not fixed amounts month to month (might only be a few pence/pounds here and there) but if you don’t remember this and put some amount in there that falls short, payment would fail
I suppose the notification to remind you to top the pot up by 4pm is a good enough approach, but still feels a bit bad.
Starling tends to notify you 1 working day before a DD goes out anyway, e.g. “You payment to X for £Y goes out tomorrow” - I wonder if they enhance this notification to warn you if the bill pot does not have sufficient funds
Will tentatively give it a go with some minor DDs to see how well it works before trusting my mortgage payment to it!
They do this already for the main balance, including warning you you’ll go overdrawn, so it would be bad if it’s not the same for spaces
I’d prefer it if Monzo didn’t take the money from my main balance if there wasn’t enough for the direct debit.
Pots / spaces should be separate from the main balance and having them not be in certain situations is just messy and can lead to confusion in my opinion.
Like my recent £9,000 direct debit. That would have wiped out my entire pot balance, main balance and overdraft.
This gets teased every six months or so
If they were valued at £1.1 billion in the last funding round, they’ll be hoping for well above that
Ctrl + c
Ctrl + v
This is what they say in the announcement about that
The day before a Direct Debit is due, we’ll send you a notification that a payment is needed the next day. If you don’t have sufficient funds in the Space to make the payment, we’ll let you know, so you have time to add the funds you need.
I wonder if it takes into account other DD"s to come out the same day that haven’t come out yet though. I.e if you’re like me, there might be 12 DD’s and SO’s come out on the same day, If the check on the day before only checks that DD against the current pace balance then that is a really poor implementation, whereas as opposed to checking the total amount of proposed DD’s that day against the space total
I also took it as not within 12 months.
Also …
“It occurred to me that, up until now, I’d always marked our progress against Monzo, since they were our rival challenger bank and had launched at almost the same time. The extraordinary experiences of the year 2020 made it clearer than ever that our competitors are now Lloyds, Barclays et al.”
I’m not sure what to make of that quote?
They are targeting legacy bank customers by offering them (somewhat) better than they have currently but not trying to compete with the (innovative? gimmicky?) features of monzo?
Or that she thinks they’re clear of Monzo already and are now chasing after Lloyds/Barclays?
I think she means that she doesn’t consider Monzo competition and is benchmarking success against market share (?) of the high street banks.
Which is kind of what I remember Tom saying way back when: that the competitors weren’t fellow start ups - it was the established banking scene.
I really respect what each bank has done, but I do wish they’d get over each other.
Some interesting bits:
Fellow fintech firm Wise listed directly on the London Stock Exchange at an $11 billion valuation earlier this year.
Still, the challengers remain some way away from stealing significant market share from much larger incumbents. Starling, which was last privately valued at $1.5 billion, made £97.6 million ($133.2 million) in 2019, a figure that pales in comparison to that of traditional lenders like HSBC, Barclays and NatWest.
I wonder what Starling’s listing will be at. I intuitively think it should be worth more than Wise. But then again, its margins are probably slimmer. 
Maybe I was trying to read too deep into it, as if she was either admitting to being behind monzo from a technology point of view and now concentrating on legacy maybe, or she thought they had surpassed Monzo and now they just had to steal legacy bank’s customers.