Creating and managing an Instant Access Savings pot
You can start saving with as little as €0.01, and there are no penalties on withdrawals. The maximum you can have in a pot is €100,000.
Here's how to create a Pot:
First, make sure you have the latest version of the Monzo app. Then, follow these steps:
Tap the + icon in the top right corner of your Home tab.
Tap Create a Pot.
You can choose between a Regular Pot for general savings or an Instant Access Savings Pot to earn interest. You can have up to 20 Instant Access Savings Pots across your personal and joint accounts.
Withdrawing from your Savings Pot is simple. Just follow these steps:
From the Home tab, scroll down to Savings.
Select the Pot you want to withdraw from.
Tap Withdraw.
Your money will be back in your account instantly.
Closing a Pot
To close a Pot in the Monzo app, just follow these steps:
Scroll down on the homescreen to the Pot or Savings Pot that you want to close.
Tap the Settings icon, then tap the Bin icon on the top right of the screen.
Confirm you want to close the Pot.We’ll move all the money from your Pot back into your main account.
