23 Aug 2018

Move money out of pots automatically!

Pots are a simple way to set money aside, within your Monzo account. Last month we let you schedule payments into pots, so you can add money automatically on a regular basis.

Today, we’re adding the ability to schedule withdrawals out of pots, so you can move money back into your main account automatically too!

Make managing your money easier

You could try setting money aside for all your bills by scheduling payments into a pot. On the date you need to pay them, schedule the money back into your account so it’s there when the Direct Debit’s taken!

If you’re a student, you could try putting your loan into a pot when you get it, then giving yourself a regular allowance by scheduling payments back into your main balance.

Or, if you want to make sure you have enough money set aside for regular costs like travel, you could move the money you need for the month into a pot, then automatically withdraw the cost of your fare every day.

Get started

Setting up scheduled payments out of pots is simple!

  1. Go to withdraw money from one of your pots as usual
  2. Tap ‘Set scheduled payment’ at the bottom of the screen
  3. Set an amount, start date, when it should repeat, and when it should stop
  4. Tap ‘Schedule’
  5. You’ll see the scheduled withdrawal in your scheduled payments screen (as a credit)
  6. You can still move money in and out of the pot like normal, and can cancel the scheduled payment whenever you want

Share your feedback

We hope you find it useful! Tell us how you’ve been scheduling payments in and out of pots and share your tips with the community.

Or find out more about how you can use Monzo to automate your finances 😃

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