Emma Pockets/Pots šŸ‡¬šŸ‡§ - 4.34% AER

Feedback & Ideas
81

I was wondering all the same things, canā€™t understand why they wouldnā€™t be mentioned on the sign up screen or the FAQs.

Personally I donā€™t understand the point of this feature but maybe itā€™s not aimed at me. Iā€™d need a strong motivation to take money out of an FSCS covered deposit with a real bank to put it into a ring fenced scheme with a provider Iā€™ve never heard of. 0% interest isnā€™t going to cut it :laughing:.

3 Likes
82

We are going to build different types of pots:

  • Personal (e-money)
  • Savings (interest and fscs)
  • Group

We have started by rolling out the first type.

Things like cashback, referrals, quiz will all go through the pots moving forward.

1 Like
83

Hi edoardo, great to see youā€™re still engaging with the community here!

The improvements sound interesting, but I will probably be unlikely to move away from chasing market leading rates elsewhere. I certainly canā€™t justify using pots in this early iteration.

For me Emma will always be an account aggregator and budget tracker - hopefully these features can keep being polished and updated despite the focus on the new bolt ons.

84

Thanks for your feedback.

We have an entire team on budgeting and aggregation, but also have other people launching new opportunities. :slight_smile:

85

The new feature ā€œSaveā€, is below standard and very discouraging.

  1. It takes time to process transaction (paying in money)
  2. There is a bug in withdrawal of funds (I triggered a withdrawal) from the account I credited, there was no option to select where or whom to pay to. After a while, I got debited but not sure where my money went to. I have checked all my accounts and itā€™s not present in any. Itā€™s quite disappointingā€¦imagine I was desperate. I think this need improvement (high priority)
86

The first deposit is manually reviewed, anything after that is a faster payment.

The account number is shown at the top of the withdrawal screen - itā€™s the account you have used to deposit first. We are going to change the messaging so itā€™s clearer.

88

Hey @Jonny1623,

thanks for posting. :slight_smile:

At the moment, Pots donā€™t offer interest, we are working on this now and itā€™s the next big feature in Emma.

1 Like
89

Quick update, interest is coming in the next few weeks with FSCS protection.

We can go up to 2.25% - this will be higher with bank of england latest changes.

3 Likes
90

Quick update - the highest rate will be 2.40%.

1 Like
91

With chase paying 2.7% on savings, what benefits are there with your savings pots?

1 Like
92

Currently receive 2.86% easy access through Zopa.

93

We are using Santander as the underlying bank.

You can create as many pots as you want with the same interest and FSCS coverage (in aggregate).

You can transfer in realtime between each pot.

The whole feature is linked to your available balance, so if you also invest in Emma, you can shuffle money around quite easily.

Some screenshots. :point_down:

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94

Vs chase & zopa the ability to see them in Emma! I actually think thatā€™s not too bad for a first offering, yes itā€™s about .3 of a percent from the market leaders, but ease of use (having everything all in one place) is hopefully of some value too.

Nice one!

95

We were expecting to launch at 2.75%, but there was a last-minute change, and I think things will change again, so you never know. :wink:

2 Likes
96

Is there a launch date yet?

97

Tuesday. :slight_smile:

1 Like
98

Android beta users should have this. :slight_smile:

99

You should be able to see this on iOS as wellā€¦

100

Is this just for beta ios users?

101

Try to update the app, itā€™s there