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 a Pot.
To create an Instant Access Savings Pot
First, make sure you have the latest version of the Monzo app. Then follow these steps:
Go to Save
Tap Savings
Tap Activate Savings Pot or Create Savings Pot
Follow the steps in the app
With an Instant Access Savings Pot you can earn interest at the rate shown in the app. You can have up to 20 Instant Access Savings Pots across your personal and joint accounts.
Withdrawing from your Instant Access Savings Pot
Go to Save
Tap the Instant Access Savings Pot you want to withdraw from
Tap Withdraw
Your money will be added back to your main balance instantly.
Closing a Pot
Tap Instant Access Savings Pot you want to close
Open Settings
Tap the option to close it
Confirm you want to close the Pot
We’ll move any money left in your Pot back to your main balance.
