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Saturday, March 24, 2018


Monzo creates coin jar feature

Jordan Williams | 3:13 Friday 9th March 2018

Mobile-only bank Monzo has announced the launch of a new feature that will automatically put aside money every time you make a transaction using the Monzo card.

Whenever customers make a purchase over £1, the new coin jar feature will round the amount up to the nearest pound and add the difference to a dedicated savings pot.

The app will provide an update on the transaction feed confirming how much money has been moved.

The feature will only round up transactions when the account balance is over £10 to avoid balances falling to zero or into overdraft.

In order to create a coin jar in the app, users must select the create pot button on the account page and name the pot ‘Coin Jar’ then hit create.

The coin jar feature has been launched as an early experiment as part of Monzo’s future plans for the pots savings feature.

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