Both Monzo and Starling have little virtual savings piggy pots, which remind me of an app I used to love called, well, PiggyPot. Monzo’s Pots are exactly like a virtual piggy pot, you manually add money. Starlings Goals, however, are a lot more versitile. You can schedule money to add on a recurring basis, so you’re saving for that iphone at £999? you can automatically add £2 a day for the next 500 days. With Monzo you would have to go and physically do this yourself, everyday. You can still do that in Starlings goals, but I believe the trick to saving is making it automatic. Get it out of your main balance, you don’t see it, you don’t spend it.
Monzo do have some of their own cool feautes, such as round-ups. Which they’ve labelled Coin Jars. It will round up spending to the nearest £ into a savings pot, so you can virtually save your spare change.
If you have an overdraft with Starling and you’re overdrawn on your main balance, but have money in your Goals they won’t charge fees. For example, you are -500 in your main balance but +600 in Goals, this is a +100 overall balance, so they won’t consider you overdraft. That’s one step ahead of a traditional savings account. Oh, and money in your savings earns interest.
Starling has much more funtionality when it comes to saving.