What 3rd Party Pots do we want?


(Matteo Scotton) #1

So Monzo are going to allow us to open pots that tie directly to other companies. A way for us to save, build interest etc.

I thought we could put forward our wish list for which companies we’d want to see Monzo work / partner with.

I like Zopa. They allow you to have an account that lends money out to other people. Your investment is spread, so £1000 invested might make up a small part of 200 people’s loans. As the money is paid back with interest, you might get £3-4 back at a time. You can choose to reinvest, or have this money slowly deposit back into your “Holdings” account.

This would work perfectly with a Monzo Pot. One Pot could show your holdings (ie: available to withdraw and spend) and invested money too.

You could even toggle from within the pot between “reinvest” and “move to holdings” for any money paid back to you.

I also like the idea of having a credit card pot. You could use the credit card pot to pay off your credit, and make monthly payments, setting up a standing order right there. It could even have it’s own mini feed, saving you switching between apps for recent transaction history.

Of course the picture for this pot could be a photo of the card itself

Sorry if a similar list is elsewhere. But does anyone have any other companies for the wish list?


(lewis oconnor) #2

rate setter isa


(Andrew Clark) #3

Good question:

1: Crowdcube - invest straight from the app. One day a Monzo share offering where sticking money in here buys your shares.

2: PensionBee - pop a few quid in your pension each week.

3: Freetrade: buy my shares here

4: Wrisk: buy my insurance here

5: Dollars: hold a dollar account here. I don’t know what US banks would own this pot.

6: Glint: hold some cash in gold.

7: Sone crypto pot to save money in bitcoin/ethereal

Just for starters…


(Excited about Christmas) #4

Not sure what Monzo could add to the existing Crowdcube app. Crowdcube doesn’t just hold money ready to invest - they only take money when a particular pitch closes, so it doesn’t really fit the model.

Credit card integration is a must, but again, not sure if Pots are the right place.

An ISA pot would be awesome. I use ii for my share ISA…a crypto one would also be good.


(Andrew Clark) #5

The Crowdcube pot would be for the next Monzo raise. Directly within the app. Shows your shareholding and multiplied by latest valuation.


#6

Instant access savings and regular savings. Don’t care who they’re with as long as they have decent rates.


(Excited about Christmas) #7

Ah sorry - yes that would be good if there was another raise. I wouldn’t bet on it.


#8

Similar to @Rat_au_van … cash savings products with competitive rates are what I’m primarily interested in. Don’t care who provides them.

I’m not particularly interested in investment products via Monzo pots. I’m happy going direct to the providers for these.


(Tim Banting) #9

And FSA protected.


(Nathan) #10

Would love to see LISA integration.


#11

Moneybox. Even if it was just a read only balance.


(Matthew Jones) #12

I do really like the PensionBee suggestion. As a nation we’re super poor at saving for our retirement so if we could have a cheap DC pension scheme that we could make easy payments through our app that would be great.


#13

EUR pots (with perhaps AUD and CHF later)


(Bradley) #14

Freetrade integration would be awesome. Would be great to have a pot linked to a specific ETF.

Maybe integration with something like WiseAlpha for investments in private bonds as well? Although I’m not sure how that would work.


(James Murray-Ferris) #15

It’s all about savings for me as I’m not an investor and I only have my emoloyer pension that I funnel any retirement planning into.

I’d like to see a decent savings account either from Monzo directly or anybody really as well as Child ISAs as they are having to stay with Nationwide for time being.


(John) #16

I’d like to be able to link a pot with a payee e.g. link the Coin Jar with one of my debts like my credit card. Once the pot reaches a certain figure it is emptied and paid to the payee I chose.

I think this will be a great way to help people pay down debts quicker without realising


(Graham - Mental health professional) #17

This sounds elegant.


(John) #18

It should mean there is endless possibilities with what the pots can do. Pay off credit cards, loans, debts or add money to savings accounts, kids accounts etc. It might be possible with IFTTT when further things get released but it is something I would definitely use.


(Frank) #19

I really like the concept of onedox but would prefer it to be integrated with monzo. Then you should be able to use payment amounts and due dates.

Though I am not sure if monzo would be better integrating onedox or replicating it’s functionality. :thinking:


#20

Squirrel budget app so that it can look after your budget and move money instantly