For a rainy day: Monzo customers can now earn interest on their savings whatsapp Fintech challenger bank Monzo is launching its first interest-earning savings pot.Customers will be able to create so-called savings pots within their Monzo account that will earn interest at one per cent per year, paid monthly, on savings of £1,000 and above. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoBridesBlushWhat The Harry Potter Stars Look Like Out Of CostumeBridesBlushUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo! JustPerfact USAUndoOceandraw29 Gorgeous NASCAR Wives & Girlfriends, Don’t Miss #9OceandrawUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndo Investec Corporate & Investment Banking, which currently manages more than £1bn on behalf of other institutions, will manage the savings and pay customers the interest.Tom Blomfield, chief executive at Monzo, said: “At Monzo, our goal is to build a marketplace bank, that lets people access a choice of products and services from across the market, all from within one app.”“By working with firms like Investec, we’re giving our customers the convenience and control they need to make money work for them.”Monzo confirmed that it will be earning commission from Investec, highlighting the new feature as a future revenue stream after revealing losses of £33.1m in July.Monzo announced yesterday that it had closed a fresh fundraising round at £85m – putting Monzo’s valuation above £1bn and cementing its position among the UK’s so-called unicorn startups. Max Kelly The bank said it now represents 15 per cent of all new bank accounts opened in the UK each month, after hitting 1m users in September.Monzo said the new service will be rolled out slowly, and it will email users when they are able to start using the new pots. Tags: Company Goldman Sachs Investec Startups Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Thursday 1 November 2018 3:34 pm whatsapp Customers can open up to 10 savings pots and can take money out of these at any time, with the funds being returned to their main Monzo account the next working day.The bank said the feature is the most significant move it has made so far towards its goal of offering a broader range of financial products from different companies in a so-called marketplace model.The rate outperforms rival Starling Bank, which pays interest on balance at 0.5 per cent AER up to £2,000 and 0.25 per cent on balances above that, up to £85,000.Meanwhile Revolut, another app-based fintech firm, does not currently offer interest on its accounts.However in September, Goldman Sachs released a new easy-access digital savings account called Marcus, which currently offers an even more competitive 1.5 per cent AER.