New Feature - Name Brainstorm 🧠

[Nate]

@edoardomoreni

I don’t think this is the case cause if you do an Open Banking transfer, you can always pass a reference.

Cool. Well, you know more about these things than I do. Either way, Hyperjar don’t use a reference to transfer to pots as far as I’m aware but they do use a merchant reference when moving money out providing that merchant is on their list. This ensures payments are made from the right pot without transferring back to the lead account.

Also, I like how we’re all talking ‘pots’ Perhaps they should just be called ‘pots’

[edoardomoreni]

@Nate

Also, I like how we’re all talking ‘pots’ Perhaps they should just be called ‘pots’

I think so ahah

[o99]

@edoardomoreni

Another main reason is that top-ups are expensive, so better to have 1 topup and then internal transfers.

When you say top-ups, are you referring to debit card top-ups?
Personally I don’t find this an appealing way to send money to a savings account.

I much prefer sending by bank transfer (ideally via faster payments network). Is it expensive to receive bank transfers?

@Nate

Yeah, Hyperjar is the same. It’s because there is only one account number but many pots. So, you would need a virtual account number for each pot.

That said, Emma could achieve this I guess by using a smart rule possibly. Say you send £50 to the account with the reference ‘Amazon’, the smart rule could push it to the right pot based on the transfer reference. Alternatively, it would have to be something like percentages, where money hits the main account and is divided up into the right pots based on the % set by the user. Definitely food for thought

Yes, agreed about smart rules. Particularly if it could be linked to the bank transfer reference field.

[edoardomoreni]

Yes, it’s expensive if you are not a bank.

[sean.read]

Why not something oriented towards the almighty bear logo, Sweet-jar, Honeypot etc.

[Nate]

Honeypots! Yes!

[grant.m]

Hives - the more you save, the stronger the hive.

[Nate]

As in the rash?

[grant.m]

As in Beehives

[jamesb]

I’d add another vote for pots.

Call it something obscure and people won’t talk about it.

[edoardomoreni]

I think Emma Pots could be the simplest and most understandable name. I guess it’s mainstream by now.

[jamierpond]

100% Envelopes. I don’t resonate EMMA-velopes.

I don’t really understand the user story with this feature though, why is it helpful to have this in the Emma app?

[jamierpond]

Pots is complicated because it mirrors the Monzo ‘Pot’ concept which is more of a micro saving account. I get the impression this will be slightly different, and more ad hoc, and thus requires a name which is fitting as such.

[sean.read]

“Pidgeon Hole”…

[edoardomoreni]

Ahaha, I dunno I think pots/pockets is really easy.

[o99]

@jamierpond

Pots is complicated because it mirrors the Monzo ‘Pot’ concept which is more of a micro saving account. I get the impression this will be slightly different, and more ad hoc, and thus requires a name which is fitting as such.

What do you mean by micro saving?

I use two different providers that both use the term pots for separating savings into different portions (Monzo and Zopa). I store both short term savings (savings for specific short term goals) and long term savings (emergency savings) in different pots. I don’t have the impression that the name implies only a certain type of saving.

[Nate]

@jamierpond

100% Envelopes. I don’t resonate EMMA-velopes.

… this was said in jest. It wasn’t meant as a serious suggestion.

[iNil]

UK only feature I guess? Is this ever coming to Canada

[edoardomoreni]

UK first, worldwide later.