Creating and managing an Instant Access Savings pot

You can start saving with as little as €0.01, and there are no penalties for withdrawing money. You can keep up to €100,000 in an Instant Access Savings Pot.

To create an Instant Access Savings Pot

First, make sure you have the latest version of the Monzo app. You’ll also need to have provided your NIF before you can open an Instant Access Savings Pot.

Then follow these steps:

With an Instant Access Savings Pot you can earn variable interest at the rate shown in the app, paid monthly. You can have up to 20 Instant Access Savings Pots across your personal and joint accounts.

Withdrawing from your Instant Access Savings Pot

Your money will be added back to your main balance instantly.

Closing a Pot

We’ll move any money left in your Pot back to your main balance.