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Monzo experts :I want the monzo savings acct but must open a current account account,

11 replies

Monzoqquery · 07/05/2024 13:29

I don't want to change my current account at the moment at all but I really want to use the other savings. Does anyone also want do it like this.

I had a read of terms and I can't see where it says salary etc must be paid in?
So can I open the free current account, not pay anything in but use the saving part of monzo?

OP posts:
determinedtomakethiswork · 07/05/2024 13:30

I've also wondered about this.

mrstea301 · 07/05/2024 13:30

I have a Monzo current account but my salary doesn't go in - I have the savings account. As well. I just transfer money over every month and use it for fun money really! All my friends have Monzo so makes it easier to transfer money between us as well! Xx

Uncooperativefingers · 07/05/2024 13:33

Yep, that's what I did, although I wanted their joint account rather than savings.

Open their current account (but keep your old one and don't use the switch service)
Open the savings account
It may be easier to transfer money into the current account and then into the savings one.

My Monzo current account is always empty. They've never had a problem with that.

There's no limit to the number of current accounts you can open btw

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naffall · 07/05/2024 13:33

I have a current account and the savings account with monzo. I just pay a little in every once in a while, no salary or regular deposit into the current account.

Blackhorse32 · 07/05/2024 13:33

I use Monzo and have a saving account as well. Salary is not paid into it, I just transfer money over to it each month.

Monzoqquery · 07/05/2024 14:18

Brilliant thanks everyone!!
I also want the joint one but I'd like thier isa also

OP posts:
Hakunatomato · 07/05/2024 14:40

How much are Monzo paying on interest at thmoment?

mrstea301 · 07/05/2024 18:40

4.1%, or 4.6 if you pay for their premium account

Monzoqquery · 07/05/2024 20:45

@Uncooperativefingers

Did you have to open a joint current account to open the joint saving account..

OP posts:
Flippingflamingo · 07/05/2024 20:55

Monzoqquery · 07/05/2024 20:45

@Uncooperativefingers

Did you have to open a joint current account to open the joint saving account..

I believe so.

I have a current account but only ever use it for holidays as there are no fees to use abroad. I have a main current account elsewhere.

Still use the Monzo savings account though as it’s good interest and instant access.

Monzoqquery · 12/05/2024 19:01

I've opened it up but I can't see where I can name the savings option or create another within the same account

OP posts:
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