How do Saving Pots in your bank account work? Are they useful or not worth it?

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thanks 🙂
Edit: I have Monzo and Revolut they both offer the service! I’m in the UK, if it matters

In: Economics

Could you link to the exact bank? It sounds like something they’d all do slightly different ways.

If it’s a regular “savings account”. Then you might be given a small amount more interest for keeping your money in there and perhaps bonus extra of you avoid withdrawing cash too often. (All this is is the bank knowing you’ll keep money in there a little longer and rewarding you accordingly). To be honest though interest at the moment is so low I don’t think it would much of a difference?