Statements outgoings and deposits incorrect

So I just went to generate a statement for the first time and straightaway I noticed the outgoings and deposits are drastically incorrect.

After a little while figuring out why it thought in September I deposited nearly £15,500 and spent £16,500. It turns out it counts deposits and withdrawals from pots in these figures.

Now if I was to apply for any credit elsewhere that asked for bank statements I don’t think these figures would help in the slightest at being accepted for it.

My actual incoming payments were only around £3000 and outgoings around £2000 that month. But transferring funds from one pot to another a couple of times has created these misleading figures.

It should only include funds actually arriving and leaving the account only.

Latest TestFlight on iOS.

My question is why do you not think these figures would not help? If you had two accounts and made the same transfers between them it would have the same effect.

Second question is how you managed to move around so much money between pots! Not judging just impressed :joy:

But definitely intended and not a bug. Money moved should be recorded regardless.

My own view is that neither statements nor pot history are fit for purpose.

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Pots aren’t individual accounts. So the totals on the statements should just be the actual amounts that go in and out. I.e salary and outgoing payments.

If you want totals for each individual pot, you should be able to go to the pot history feed.

I had all my savings in one pot, including a house deposit. So when I split it all up into individual pots I withdrew it into the main balance (because you can’t pot to pot transfer) then into the new pot. A touch of ocd meant doing it a couple of times :joy:

I just thought from a perspective of showing an outside agency your bank statements, £15000 in and £16500 out would be a bit alarming. Especially when the actual amounts are £3000 in and £2000 out.

I imagine it wouldn’t be a problem, you could quite easily explain the situation with moving money around due to savings etc. It’s a very common scenario, what’s the point of savings if you can’t withdraw them and then spend them! Even in a legacy bank, you’d maybe have a current and a savings account, withdraw 15k from a savings and then spend 16k from the current would have just the same effect. I wouldn’t worry about it. If you’re using savings pots the money actually IS in a different account and outside of Monzo, just looked after within the Monzo interface, so it makes complete sense to show it I think!