You now only need £10 to open a Monzo Savings Pot

You now only need £10 to open a Monzo Savings Pot

You can now open an Easy Access Savings Pot with a £10 minimum deposit and start earning up to 1.15% interest (AER, variable).

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That is short and to the point! Maybe there was a link to a blog post or something missing?

Edit - there was no link there when I made this reply.

It is great news.

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Hey Rob, there is a blog post imminent, you’re just very early to the thread!

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Yippee. This is great!

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OK. Wow. I need to create a couple of pots…
Be right back!

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With this announcement, please add the option to convert a regular pot to savings pot and vice versa! :pray:

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Thanks Sam! I hear you! It’s something we’ve thought about doing, hopefully we can get working on that soon.

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Need to be able to reorder pots too!

This is great news though, well done Monzo :tada:

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:grin:

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This is awesome, awesome news.

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Very good. Best news out of Monzo all week

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This is brilliant. Now my roundup pot can start earning interest.

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I’d still like to be able to get my hands on the cash without having to wait until next day. Means I need to keep some emergency funds to one side.

Although there could be some potential to link into get paid early because Monzo know the money is coming next day.

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Hey there, instant withdrawals is something we’d like to work on soon. I’ll let the team know it’s something you’re after. Thanks for the feedback!

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Perhaps post instant withdrawals in the feedback & ideas category so people can vote on it?
I don’t think anyone has posted a dedicated thread on this.

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Great news!!! Awesome work!!

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Done!

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Voted :slight_smile:

The £1,000 minimum was one of my biggest complaints about the savings pots.

Well done for listening to the feedback Monzo, this is excellent news.

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This reduction in minimum deposit requirements makes Monzo’s Easy Access Cash ISA options more appealing to me, particularly if they are flexible.

However, despite some people on the forum saying they have had responses from chat support on this matter, I’ve never seen Monzo properly communicate whether or not the ISAs are flexible, in the form of in-app information or access to full savings account terms and conditions in advance of account opening.

@indimae can I encourage the provision of better in-app information on whether or not the ISAs are flexible (on the screens that provide account information) and the ability to access full terms and conditions in advance of account opening?