Investing money isn’t your every-day spending money. They should be very separate.
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I probably didnt articulate myself quite as intended, doh!
The roundups being allocated to either GIA/ISA i think is a nice idea. If its a standard cash ISA, then it could be effective immediately. S&S or GIA, you’re right, there are usually minimum investment amounts before they can be invested. So it would need to accumulate as cash within the account before investment. As long as the ISA limits arent exceeded, which is unlikely to happen with people topping up using Roundups!
The withdrawals would obviously need to have more thought - theres clearly no point in investing your salary, and disinvesting cash simultaniously for bills. Its more a tool for those in later life. But the ability to create a regular withdrawal facility from the GIA is something to consider for those that have a larger investment pot.
I basically skipped ahead to the answer and didnt show my working - there are plenty of clients in/nearing retirement that have substantial investments. They regularly drawdown from these to provide themselves an income, or top-up income. Being able to do this within your own “bank” saves additional delays of selling shares to cash, and transferring to a bank account. Those in the above scenarios are also more likely to have lower risk investments and a larger proportion of cash within those investments anyway.
Will it be possible at some point to have multiple investments? I have a long term high risk one set up but would really like to also be able to set up a medium risk one also, saving for a different purpose. I’m not able to use my ISA allowance to set up an investment ISA at present.
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Obviously im not suggesting that people invest money they need for daily living. The facility wouldnt be suitable or appropriate for all. In the eyes of the FCA we should really be looking at protection, then savings allowance and pensions, before general investing - but since the offering here is for a GIA the advice is clearly tailored to the limited options. I mentioned in an earlier post that Monzo arent likely targetting sophisticated investors. Those people very likely already have IFA giving hollistic advice.
The purpose (I think) of this product is to engage those that havent the access or knowledge to these products elsewhere. “Some savings and investment” is far better than none at all because they cant afford an IFA. With that in mind, functionality which may benefit those specific users may differ from the functionality a sophisticated investor might require.
TLDR - I agree that investing money isnt your daily living money. Im simply thinking of functions which may appeal to the current product target.
Any imminent changes are likely to just allow you to split your investment allocation across funds within a single account. i.e., your £100 a month investment can be split 50/50 between high/medium risk, or 75/25 etc. They may even allow a portion of cash allocation outside of the funds.
I havent seen any official Monzo communication on this though. There are a host of other low-cost platforms which you can do this with for the moment if you’re desperate for immediate change. If you’re set on containing this within Monzo, then opt for the lower risk of your preferences for now.
This seems as good a topic as any to link out to this episode of one of my favourite podcasts:
Genuine laughs at loud at the opinions surprisingly serious and powerful US figures on the right have about local pantomime villain Black Rock
Currently there seems to be no way of seeing what I’d be investing in before I open an account? Like others I’m concerned about how ethical these investments will be with blackrock at the helm. It says that “The funds aim to invest your money in things that are 30% less carbon intensive” but surely that could still mean things like weapons manufactures and fossil fuel companies?
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What they’ll invest in will be constantly changing.
If today they put your money into GreenTreesForever but tomorrow they tank, your investment would be sold, so it seems futile to provide a list, it also opens them up to complaints from people who think they know better.
As far as I can see, there’s no list for what I’m currently invested in either.
Anyone else has this?
When I tap on “Start Investing” I get an error saying that they can’t open an “Investment Pot” for me 
It’s not an error, you’re not eligible.
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It would be good if the error message said that. To me, ‘right now’ reads like it’s a temporary problem that might work if checked later.
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Meaning today. Try again another day.
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Doesn’t look like an error to me, looks like you’re not eligible.
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I wasnt eligible on the day of release - I simply had no button to open the account.
Last week that changed, the button appeared, and i opened an account.
I would suggest the error probably isnt eligibility. Worth contacting Monzo.
It is, I have the same message.
Not an error, just not eligible.
Interesting then - its different to my message when i wasnt eligible.
Holdings are here
Careful
Balanced
Adventurous
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Dipped my toe in the Adventurous in a GIA with a small amount of fun money.
One week on, showing “- 3.30%”.
14 years and 51 weeks to recover though. (If I haven’t forgotten about it by then 
)
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I’m down 3.81%. that’s 31 pence. The dream of owning a private Jet is over.
Surely seven weeks is ‘long term’.
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It’s funny how it’s dumbed down as if we are all five years old. I still have no certainty as to the identity of the funds in question but some have speculated that it’s the MY MAP select ETFs. It would be helpful to know this, so we could know the holdings. Just because you’re a bank doesn’t mean everyone’s going to blindly throw money into something just because you say ‘trust us’. Are we going to have statements that show we own the shares? Can these shares be lent out? More questions than answers.
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