🔜 Sweeping balance on payday

I like the Round Ups feature, but I was wondering if there’s any way to sweep the existing balance of your account into a pot as your salary comes in. I do this manually at the moment, but it would nice to have it automated.

Splendid idea!

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Welcome to the forum! I think this is a great idea too!

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Been suggested quite a few times and it’s an idea I really hope Monzo finally implement!

Someone made an app to do it but sadly never been made public :frowning:


If it’s been suggested before and Monzo haven’t implemented it yet, it may be difficult for them. I guess you’d have to tag a particular recurring deposit as your salary. Can that be done?

Yeah it’s already done you should get a payday notification when your pay is received and you can also set an incoming payment as pay via the budget tool

I was wondering about that, because I transferred some money i when I opened the account and Monzo told me I’d been paid, so any large deposit seems to be payday.
Thanks for the tip about the budget tool.

Some of the legacy banks used to have this feature many years ago, but later stopped offering it. I believe one of the reasons may have been that no interest was paid at the time on funds in current accounts, and they realised that customers automatically sweeping funds into their savings accounts meant they had to pay more interest.

I believe times have changed, and this is exactly the kind of proposition Monzo should offer! :+1:


Well it’s good to know I’m not alone, even if I’m not the first one to have the idea. I really should have searched this forum harder before starting a new thread… :man_facepalming:

BTW Justin, :+1: for the use of “legacy banks” :grinning:

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This feature has been suggested previously. You can vote for it here:

It would be brilliant to have a ‘sweep’ option in settings where any money left in your account on the last day (or working day) of the month gets moved automatically into a chosen savings pot.

This would be a great IFTTT action.

If you have a quick search you’ll see this has been mentioned a few times before :slight_smile:

In fact someone (non-monzo) has been working on just this:

Would be great to have a quick button that takes all the budget you haven’t spent that was allocated for the last month and sweep it into a savings pot when your salary gets put in. I know I can do it with some maths but it would be nifty :smile:

This came up before… I heard someone had done an IFTTT plugin for it but it’s not live on the site at the moment (or I can’t find it anyway).

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Or automatically, here’s some pseudo-code

threshold being a set limit so account isnt zeroed after a small pay advance/correction
employerName being employer name (kinda obvious)

if (payment.recieved.amount > threshold && payment.recieved.sender == employerName)
amountToPot = account.balance - payment.recieved.amount;
sendToPot(leftOvers, amountToPot);

Could be implemented either on the app or on the server and is likely as simple as that, assuming a comprehensive API that is. Need some additional database fields for the threshold limit and employer name, and a hook into the new payment notification.

As linked above I’ve definitely passionate about this behaviour too (I have a custom script that does it for me at the moment!). I would say it’s worth taking a look at the “What we’ll build in 2019” blog post that Monzo published earlier in the year.

More ways to save […] by setting a rule to send any money spare at the end of the month into your ISA.

This extract definitely makes it sound like this will be a capability into an ISA, I can only assume (or hope…) this would be any pot! By no means a confirmation though!

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There’s been a few threads on the same subject so I’ve tried to merge them all here!

If your vote has been lost around the way, do hit the vote button again! :ballot_box:

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It’d be great if, at the end of a specified period, say a pay-month, any remaining balance over a threshold could be swept into a pot or savings pot. That way you’d be able to maintain a float and it’s all be done automatically. As far as I can tell at the moment I can only do transfers automatically using preset amounts.

Hello :wave:

I’ve moved your post to the main thread. Be sure to cast your vote at the top.