500 a month?

Help
1

What happens if there isn’t 500 going into my account every month? What happens to my money. I was going to use Monzo as purely a saving about but it seems I have to put 500 in every month?
Pls help :pleading_face::pleading_face:

2

You only need to be concerned about the amount you are putting in if you do a lot of cash withdrawals.

Please read the email. (I’m guessing this post is as a result of the email)

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3

An email I didn’t actually receive. If it wasn’t for this community I wouldn’t have known about these changes at all

Why aren’t announcements rolled out to all customers at the same time?

4

I only joined today! I’m just confused about it

5

Nothing to be confused about read the help pages and the blog post about it, it’s really easy to follow and you’ll be less confused after that

6

I’ve tried to find information but I can’t find anything

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8
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9

What’s that supposed to mean?

10

And the actual blog post here

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12

I got mine the same day as the blog post have you checked spam just in case it’s sat waiting for you

13

So if I don’t plan on taking any cash withdrawals from my account I don’t need to put 500 in every month?

14

That is correct

15

Thank you
Is there a minimum amount you have to put into the account every month?

16

There is no minimum you must add to your account. You can leave it alone for months at a time if you like.

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17

No fee up to £250,
3% after that that’s UK cash machines there’s a table on the blog with the info on, and you can put whatever amount in you wish just be aware anything less than the limit of £500 and no direct debits will trigger fees around various actions in the specified table

18

Just warning you, it’s not a very good savings account, but you don’t need to put any specific amount in per month.

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19

Oh thank you! (Not really a savings more for ins and outgoings for a cards I make and sell :slight_smile: )

20

You might want to be careful with that if you’re technically using it as a business account, check the terms and conditions if it’s a bog standard current account you have as I can’t recall if it’s against the terms or not and I’ve not the energy to look now as I really need to go to bed

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21

Strangely coincidental, I posted the reference to the T&C’s regarding the use of a Personal Account for business use in another thread earlier today;

Monzo has been active on shutting down such instances (well, according to reports on the forum)

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22

Thank you everyone

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