Sweep excess money into credit card

Feedback & Ideas
1

When I was with First Direct they had the option to sweep excess money into the savings account at the end of the month. So if you set a value of say £200. And you had £270 left in your account on the last day, £70 would get transferred into your savings (if I understand it correctly).

What I would love - as I’m using monzo to help pay off debt - is to have such a feature that would automatically send the money into my credit card.

Not sure the feasibility of doing it with non Monzo credit cards. But it can’t be impossible. Perhaps it could work in a similar way to when you do a balance transfer, but it would ensure I put any excess funds into the right place rather than on £17 underwear. :man_shrugging:

You could have a notification that says ‘you have £70 left over this month, want monzo to put it into your credit card?’

2

I got a similar option this month on my spending report for the month , I had x amount left over would I like to put it into a pot ?

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3

Hi Cameron & welcome :wave:

@anon95680666 is correct - you get an opportunity to move any positive funds in the account to a pot, the button is shown at the bottom of your cyclic spending report (usually monthly)

But you can’t yet have Monzo automatically take the remaining positive balance at the end of the period and send it to a credit card for example. This would be a manual process for now. But with the increase in Open Banking development, the ability to transfer funds between Monzo and non-Monzo accounts from within the Monzo app will hopefully arrive in the near-future.

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