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£1m saved through Monzo coin jar feature

Jordan Williams | 07:29 Wednesday 16th May 2018

Monzo customers have saved £1m through its recently launched coin jar feature.

This allows Monzo customers to save while making purchases by rounding up transactions to the nearest pound and setting aside the difference into a separate pot.

So far, 39,655 people have saved through the feature and used it for purposes such as making donations to JustGiving pages.

Simon Vans-Colina, engineer at Monzo, said that the feature was a passion project that he built in a couple of days.

Monzo is currently looking to improve the way transactions are displayed.

Simon said: “We initially planned to do this [display update] in April and put it in the April monthly update.

“Unfortunately, it's taking longer than we thought as the solution we found needs us to do significant amounts of engineering work.

“So it's definitely on our list, but for the time being we've decided to make other new features a priority instead.”

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