What pots are and how to create a pot
What are pots?
Ringfence money from your main business account into a dedicated pot. Use pots to set aside money for tax payments and unexpected expenses, and to reach your savings goals. Move your money instantly between your pot and your main account whenever you want.
How to create a pot
- Log in to the Zempler Bank app or Online Banking
- Go to 'Pots'
- Select ‘Create pot’
FAQs
Pots are only available to business customers. Anyone who has a Business Go, Business Extra, or Business Premier account can access pots.
Your money is protected up to £85,000 by the FSCS (Financial Services Compensation Scheme). £85,000 covers the amount protected from all your accounts and pots at Zempler Bank.
Simply go to your pot and add money from your main account.
Your pot is a separate place to store money. If you want to make a payment from your account, you can’t do it through your pot. You’ll need to make sure you have enough money in your main account to make the payment.
No. You can manually transfer money from your pot into your Business Current Account instantly and then make a payment at a time that suits you.
No. Pots are not a savings account. It’s a place for you to set aside money in a way that suits you. You can put money in when you want and take money out instantly. You can use the money you have set aside for unexpected expenses, taxes, to do lists, and business goals.
There’s no minimum amount. The maximum amount of money that you can set aside in a pot is £500,000.
If a transaction shows as pending in your pot, this may be due to a delay in processing the request. In the unlikely event this happens, we’ll investigate and send you a push notification through the Zempler Bank app or SMS once it’s fixed, depending on your notification settings.
You can create one pot. Multiple pots are coming soon. If you want to open a new pot, you can close your current pot and reopen a new one at any time.