Why you can’t create new Savings Pots – for now

Same here- i’m going to have to move a chunk of cash elsewhere if there isn’t anything soon.

Same.

Although I’m hoping Cash ISAs will smooth over the wait. I hate having money in a million different places.

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I’m the same. I know it makes sense to shop around for the best rates and deals, however if Monzo launch a good option I’d much rather have it all visible in-app.

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It’s a shame the Monzo savings products have been so lacklustre so far. I really hope this isn’t a 0.5% Cash ISA. That would really mean I’d have to rethink my savings.

Fingers crossed it’s somewhere near the decent market rates. :crossed_fingers:

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Do we have any updates on savings? Read a few news articles in the past week on a range of new fixed savings/ISAs launching soon.

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Monzo found a few bugs in their ISA implementation which they felt had to be fixed be roll out. Hopefully there will be more news on Monday.

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Hope the savings pots come back soon :pleading_face:

Savings pots are here :grin:

You can open an ISA with as little as £500 directly within the monzo app :blush:

Edit: or you can open a fixed term savings pot :tada:

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There’s only ISA and fixed term savings pots at the minute - nothing “easy access” without the ISA restrictions.

I already have a help to buy ISA so standard savings pot is my only option.

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You can contribute to one cash and one help to buy ISA in a year so you’d be able to put the remainder of your £20k allowance into the cash ISA.

Edit: No you can’t, thanks for the correction @16bitkieran

You can’t as a H2B ISA count as a type of cash Isa, and you are only allowed to pay into one of these accounts in any tax year.

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Ahh I see, I thought the H2B was the same rule as the LISA, thanks for the heads up.

I have both HTB ISA and CashISA with Nationwide, some banks can do a split thing with the 20K being max across both. https://www.moneysavingexpert.com/savings/help-to-buy-ISA/#nationwide

Just out of curiosity - why do some have a H2B ISA instead of a LISA? From what I understand there aren’t any benefits from the H2B ISA that you don’t get with the LISA.

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One reason is that you can withdraw from a H2B without the penalty. :slight_smile:

Good news all! We expect to have an update on the return of easy access Savings Pots before the end of this month :grinning: Stay tuned!

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Will these be Investec again or OakNorth?

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Oooohh interesting. I was just thinking about my Investec pots and wondering what might happen to them.

I was thinking that they might be changed into an OakNorth one :thinking:

Fab news. I hope the opening limit is reduced this time. Opening for £1 would be amazing!

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