Unlocking your own Monzo Pot šŸ”“

Monzo Chat
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A surprising Friday night app update has landed in the Play Store :eyes:

Iā€™ll go into more detail about the changelog here: https://community.monzo.com/t/monzo-for-android-beta-channel-changelog/10207?u=nexusmaniac

But for now, letā€™s discuss the most significant change :boom:

You can unlock you own locked pot within the app - no need to contact COps :open_mouth:

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What do we think about this new change?

Iā€™m most surprised about the fact that itā€™ll unlock and delete the pot :grimacing: Why is it challenging to just unlock the pot? Thatā€™s exactly what happens when the unlock date rolls around so why canā€™t a button just trigger that same behaviour? :slight_smile:

You can unlock a locked pot by tapping the (greyed out) withdraw button - you canā€™t go into the settings and delete the pot, it just tells you itā€™s locked until ā€œdateā€

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I had COps unlock a pot for me and it too was deletedā€¦ all you realistically do to unlock the pot is overwrite the unlock date with today-1. I almost feel like it is to make you question whether you really want to unlock the potā€¦

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Wish theyā€™d kept some friction :disappointed:

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I completely agree with this :pray:

Monzo say it themselves in their blog post announcing the feature :disappointed:

By adding some extra friction, we hope youā€™ll find it easier to control your spending or save towards your goals.

If you still want to remove the money, you can chat to us in the app and weā€™ll help. But if you just want to try it out, please pick a short time frame so you can access your money again quickly!

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The question is what sort of friction should there be(how should it be implemented so its not wasting COps time) I have an ideaā€¦ But Iā€™m just curious what you think?

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Unlock it yourself but it takes 24 hours to release the funds back to your account

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Thatā€™s good and easy to implement,why havenā€™t they implemented it :joy:

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Iā€™d go for a week but then people would be chasing COps for it again.

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I have serious spending impulse control issues. 24 hours would make a huge difference to me

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I have to agree with @Rat_au_van, it makes locking pots pointless if you can easily unlock them.

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Yeah I was thinking it had to be more complexā€¦ Yeah I totally agree there should be a lockā€¦ Even better it should a slider so you can pick the time period.
To add more it should be per locked Pot rather than a setting generally

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Yeah completely agreeā€¦ needs to be a 24hr freeze on the release here otherwise what is the point in the lock if its so easy to remove :-1:

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I also agree with @Rat_au_van; my unlock was because I got the unlock date wrong (it is for my car service) - and so the rigmarole of deleting, releasing funds, recreating pot, relocking pot and transferring savings to date back in really grinded on me.

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Yeah maybe a rethink needed here

Whatā€™s the point in the lock if not?

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There is none if its like this

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Weā€™re exploring friction - I believe this is currently poised as an intermediary solution due to the inbound unlocking Pots was creating for COps :sweat_smile:

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Any figures on how many requests there were? Iā€™m nosey :woman_shrugging:

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Not sure how many but 20% of locked pots are unlocked by COps.

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Just found this

Last week Locked Pots accounted for 6.5% of our total inbound.

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It does neuter the feature for the moment though :cry:

Yikes, quite a large impact. It also suggests the concept doesnā€™t work as well as expected or people wouldnā€™t be wanting to unlock.

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