A few months ago, we launched pots to make putting money aside easier. Whether you’re saving for a new gadget, your dream holiday or a gift for that special someone in your life, you can easily transfer money to your pot to ensure you’re saving and aren’t spending until you’re ready to. We know how much you’re enjoying this feature, so we wanted to take it one step further… or rather, a few steps. Read on to find out how we’ve made pots better.
Create multiple pots
We understand you might be saving for several things at the same time. You could be saving for something as large as a holiday in Ibiza this summer, and something as small as that new coffee machine you’ve been eyeing for the past few months. To help you reach all your different savings goals at once and even faster, you can now create up to 10 different pots for each of your currency accounts. That means if you hold a GBP account, EUR account and a business account, it’s a total of 30 different pots and 30 times your savings!
You can name and create a specific goal for each of your pots to ensure you’re putting away the right amount of money towards each of your objectives. Whenever you put money in your pot, the app will automatically calculate and show you what you’ve saved so far. This should give you better insight into your savings, helping you stay on top of them and motivating you to gather the rest of it quickly.
Set up a recurring payment to your pot
Ever forgotten to send money to your pot or worse — spent it before you had the chance to store it away? Don’t feel bad. It happens to the best of us. That’s why we’ve now come up with a recurring payments option, which will automatically move money from your account into your pot. Knowing when to expect a set amount of money to be withdrawn from your account and moved into your pot should also make budgeting much more manageable. Your recurring payments can be set to a particular day per month or even week. You’ll never forget to save again!
Round up your card transactions
If you’re finding it difficult to set aside a specific amount of money but would like to start saving, you can try our new round-up feature. Every time you pay with your Monese card, we’ll round up the value to the nearest whole amount and automatically transfer the spare change to a designated pot. You can even choose to multiply the spare change amount by up to 10, so you store more away!
Save with interest
It’s sweet when you have money set aside so that you have it when you need it. What’s even sweeter is earning interest on that money! That’s why we’ve partnered with Raisin to let you choose from more than 500 savings products so you can save with interest earned! Open the Monese app, head to ‘Savings’ and then tap on ‘Savings with interest’. For now, this handy feature is available on personal accounts for customers based in the UK, Germany, Austria, France, the Netherlands and Spain, but it will be coming to other countries soon. Stay tuned!