Monzo already makes it easy to manage your spending and ensure you have money set aside for bills and savings. Today we are making that even easier with our new Salary Sorter tool. Originally this was a stretch goal for 2021, but you told us how much this would help you and it was one of the most requested features on the US product roadmap. Given the level of interest, we’re really excited to prioritize this feature and bring Salary Sorter to US accounts – it's available today!
Salary Sorter: all your money neatly organized, as soon as you get paid
When you get paid into Monzo, our new Salary Sorter gives you the option to automatically divide up incoming payments into different pots, with the rest left in your main balance to spend. This makes it really quick and easy to split up your regular income in whatever way works best for you. You can set things up so even if you spend every cent in your main balance, you’ve still put what you need aside for bills and savings.
It works best if you set up your salary to be deposited directly into your Monzo account (more info on how to do this here), but this new tool also works on any incoming payments over $100, so you can use this if you send a one-off payment to your account or receive money from a friend or business. Plus the tool works when you transfer money to your Monzo account from your Linked Accounts which we just launched.
We’ll also remember your preferences the next time your salary or any payment comes in, so you can just tap a button to do the same sort each time.
The first step in helping you manage your money better
Salary Sorter is an important first step in making Monzo the best place to manage your money. One of the other priorities on our product roadmap is allowing you to pay your bills directly from Pots, giving you better control over bills and other recurring payments. The combination of Salary Sorter and paying bills from pots will help ensure money for your bills, rent, and other recurring payments is always set aside and your payments are made on time.