We've added new interest rates to Savings Pots

Whilst i accept all of this for the reasons you mentioned shouldnt this be released as a blog post in the same manner as the one that was used to sing praises only a matter of weeks ago?

Im sure plenty of other monzo customers who dont use the forum are wondering whats going on here also.

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I think we all need to get used to stuff coming and going. Blogging every time something changes in the long term is (hopefully) going to be unsustainable and is usurping the point of having a blog. I’m not sure what a blog could say anyway.

“The supplier has changed their mind and withdrawn X” doesn’t make for much of a read. That’s more suited to twitter I would think.

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Agree with @Feathers. I don’t think there should be a blog post every single time something changes in the marketplace. However, perhaps it would be useful to have a link to a generic explanation of the marketplace model (and what this means for the availability of products) at relevant places in the app.

For example, the Create Savings Pot screen could contain a message such as “Interest bearing pots are provided through Monzo Marketplace. Click here to learn more”

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I personally don’t use twitter… but i suppose it would be a better method than a single comment on a forum thread.

Just doesnt sit with me right for some reason, dont like that they were very quick to create a blog with a “Market Leading Rate” but in response to it being pulled theres silence :man_shrugging:

This could have been confused with some sort of A/B testing to gauge interest considering how short it lasted?

I don’t think a blog post is too much to ask for when a product/feature has been pulled. Im sure it would take a content writer a few minutes to conjure up

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Is the only way too move my current easy access savings pot (1%) to the new 1.15% pot to close my current one?

I wouldn’t be too against that but the fact that my savings pot will be at the end of my pots list will drive me insane.

I’m afraid so. There is no ‘remaking’ of an existing pot into a new form I’m afraid.

Yeah, OK Twitter was just an example.

I’m really saying that I don’t believe that a blog is the correct place or format for documenting the comings and goings of numerous partnerships.

Ah gutted, thought this might be the case.

I guess I’ll just have to hold out for the reordering of pots feature

:crossed_fingers:t3: :crossed_fingers:t3: :crossed_fingers:t3:

Thanks for the feedback Nathan. I agree that we could have done better at communicating coming and goings of products in the Savings Marketplace. I’m not sure that a new blog every-time a savings product changes would work, our providers and us are adjusting rates and products several times a month. Maybe something in-app would be helpful? Maybe we could offer the option to sign up for a weekly notification on our savings rates? What do you think? Any ideas I’ll feedback to the team and hopefully we can improve this.

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For me, it’s definitely an in-app experience since that guarantees to cover all ‘pot customers’ where any other social channel will miss those of us who’ve self-excluded from that particular outlet.

Whether it’s a ‘weekly update’ or simply an automated list of ‘changes in the last 30 days’ (where new stuff appears at the top and old stuff rolls off the bottom) I don’t have a strong feeling on.

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A notification in app would definitely solve this problem going forward.

I think that would be the best option, thanks for taking this on board :slight_smile: @indimae

In app notifications would be perfect :ok_hand:t4:

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Though maybe the ability to opt out

Or set the type of notifications you want

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Looks like there’s a 1.71% option now.

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12 months fixed saving with Charter

In the context of posts from about 10 days ago on this thread, this is an interesting article on the sometimes fleeting nature of top savings accounts. Features some of the providers in Monzo’s marketplace.

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Disappeared?

Offer expired I would assume.

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Disappeared for me too!

So it seems like over a month, the rate has gone from 1.8% to 1.71% now back to 1.5%

I do hope they maintain the blog post with the most accurate info (if not scrap blog posts about rates all together)

It seems like it was updated 2 weeks ago, but if there’s such variability in possible rates it would be good to get a better mechanism in place for the live rates!

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