Monzo Easy Access pot is a savings account that allows you to earn more interest. 

But if you decide to close the account, you cannot use the withdrawal button to do it.

It prevents you from withdrawing all your money using this method because of the account limit. A Monzo Easy Access pot must maintain a £10 account minimum balance.

So if you find it difficult to close the pot and withdraw all your money, this post will guide you.

I explain the process of emptying your Monzo savings pot, including the £10 compulsory balance.

It also covers everything you need to know, from initiating the withdrawal to understanding potential processing times. Let’s get started.

Read: How to get Monzo Sign-up Bonus

How to Close Monzo Easy Access Pot and Withdraw All Money

Here is the 5 simple steps to withdraw all money from Monzo Easy Access Pot:

Step 1: Log in to Your Monzo App

Open the Monzo app on your smartphone. This is the first step of retrieving all your money from the Monzo savings pot account.

Enter your four-digit PIN or use biometric authentication (fingerprint or facial recognition) to log in to your account.

Step 2: Access Your Savings Pot

Once logged in, you’ll see an overview of your Monzo account.

Scroll down, locate the “Savings & Investment” section and tap on your Easy Access savings pot.

This will display the current balance and any transaction history.

Step 3: Access Savings Pot Settings

At the top right corner of the savings pot screen, you will see a gear icon.

Tap on this icon to access the settings for your savings pot.

Here is a screenshot of it:

Step 4: Initiate Withdrawal

In the savings pot settings, tap the archive icon at the top right corner. 

Here is where to find the archive button:

This is the right place to withdraw all your savings to your Monzo account.

Once you tap it, it will display a prompt saying “Archive Savings”

Step 5: Confirm Withdrawal

Below the prompt saying “Archive Savings”, you will see 2 buttons: One is Archive Pot; the second is Keep Pot.

Select the “Archive pot” to confirm the withdrawal process. Monzo will send all your balances to your main account the next working day.

However, if you tap the Keep Pot button, it will cancel the withdrawal request.

By following these steps, you will be able to withdraw all your money including the £10 from Monzo Easy Access Savings. Next working day, the money will be available in your main Monzo account.

Processing Time: How Long It Takes to Get Your Money

You may ask “When will I get all my money and what time?”

Monzo will transfer all the funds to your main account latest 5 pm the next working day.

But what does the next working day mean? 

A working day is from Monday to Friday; Saturday and Sunday are not.

So, if you withdraw (or archive pot) all the money on Thursday, you will get it on Friday.

But if you withdraw on Friday, you will get the cash on Monday and not Saturday.

Fees: Do Monzo Charge to Withdraw all Money? 

Will Monzo charge you to withdraw all the money? No. 

There are no fees associated with withdrawing all your money from a Monzo Easy Access savings pot.

Archive or Close Monzo Savings Pot: Is There a Difference?

To archive or close a Monzo Easy Access pot sounds like two different things but they are not.

Here is what you should know about the two words:

Archive is the technical word for withdrawing all funds from the Monzo Easy Access savings pot to the main account.

To you, you are closing the account.

To Monzo, you are archiving it.

Troubleshooting on Closing Monzo Access Pot

If you encounter any problems while withdrawing money from your Monzo Easy Access savings pot, do this::

• Update Monzo app: Go to your Playstore or App Store and update Monzo to the latest version. This will resolve issues relating to the app.
• Contact Monzo customer support: If you’re still facing difficulties, reach out to Monzo’s customer support for assistance.

Monzo offers various channels for customer support, including in-app chat, email, and social media.

FAQs on Withdrawing From Monzo Savings Pot

Conclusion

Withdrawing all your money from a Monzo Easy Access savings pot is straightforward. 

By following the steps outlined above, you will get your funds next working day. No withdrawals fees and your interest will be paid month’s end.

If you encounter any issues relating to this, contact Monzo’s customer support for assistance.

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