How this affects your affordability score
Lenders like to see that you have money in reserve if you need to pay for something unexpected. Having £200 or more in each account can help give lenders confidence you will be able to pay them back.
Lenders can't see money in Monzo pots, which may decrease the total buffer we see. If you use Monzo, show you're a responsible spender by keeping a £200 buffer in your main Monzo account for a number of months before applying for new credit and loans.
Maintain your affordability score
- Have at least a £200 buffer for each of your accounts at all times
- Avoid withdrawing cash because this might make it seem like you have less money than you do