I believe your proof of ID and proof of address are treated separately if needed, so your passport will act as a proof of ID.
Monzo attempt to verify your address automatically via electronic verification (basically using credit reference agencies and some other automated checks) so they may be able to also verify your address without any further documents.
As has already been said, they will get back to you if they either can’t accept your ID or if you need to provide additional ID or proof of address. They may need to do this if they are unable to verify you through automated checks.
This will be through the Monzo app so just keep an eye on that and look out for a notification. If you need to get in touch with them you can also email or call (details on the Monzo website).
This is really handy, although I’m sad to see the new categories (Income, Transfers and Savings) aren’t available on my normal account on top of the connected accounts… Still, definitely very handy to see!
Am trying to think of anything else constructive but think those are the main things for me really!
Only thing to say is I hope the universal feed would let me choose which accounts to show. Maybe I never want to see a certain CC as it’s just balance transfer being paid down, or my other current account which basically sits at the same balance forever apart from a couple DDs.
Auto-pot filling up linked to credit card balance is on your radar too I’m sure.
Maybe not quite within the remit of the Q, and probably solved by a universal feed, but would love to rearrange external accounts above my joint.
Hey @richardcadman - this caused me to sign up to Plus () and loving it so far.
The main thing that I’ve spotted is there seems to be a slight inconsistency in the formatting of the connected accounts feed versus the main account feed. For example, the icons look a little bit larger and transaction amounts appear to be a bolder font (assuming all feeds should have a unified look).
Yeah 100%! For transparency, some things we’re still thinking about with this one are:
The time delay between the monthly repayment coming out of Monzo, and showing up on your other account:
For that period of time you’d have less in the pot than the balance on your other card, so we need some rules about what to do here
For starters, every bank behaves slightly differently which makes this difficult, and we can only background refresh your account 4 times a day
Then, if you made a transaction in this period, it’s not a case of “matching” the balance on your other account (as the repayment isn’t reflected, so we’d put more money into the pot than is needed)
Not for V1, but not everyone wants to pays off their entire balance in full (and so don’t need to put the full amount aside), how do we handle that?
And then all the nice edge cases and error states, like not having enough money to move into the pot.
We love the idea, and I really want to build it. As we’ve been building this latest stuff we’ve learned more about how to make it work, and fixed some of the data quality, so we’re getting closer to it being a possibility!
Not sure if the connected accounts provide enough information for this, but it would be super useful to be able to add the account to ‘Payees’ from here. This would make it really easy to quickly transfer money to the account, for example to pay of credit cards
Is it possible to transaction match instead of balance match? So just add X every time a transaction hits, or Y every time you refresh (Y being the balance of all transactions since last refresh)?
I guess this also allows you to manually add/remove too (helpful with below) as you match the transaction, add it, then leave it. And that way the pot won’t just undo any manual addition/subtractions a user makes. Appreciate this is moot if transaction matching isn’t possible.
I’m seeing two main options there.
The first is that you transaction match as above, and if someone doesn’t want to pay off whole balance, they can just take some back out the pot? (Again, dependent on answers to above)
The second is that you could put a limit on the pot, and it won’t fill up past that limit. I suppose the UI/UX could be slightly similar to pot goals in this respect?
I think outside of that, as you allude to, that’s such a personal decision which might be changing on a very frequent basis depending on one’s individual circumstances that it perhaps isn’t fixable in another way.
Appreciate there must be lots of edge cases etc to deal with too. Nice to see some of your thinking though! And sorry if what I’m saying is blindingly obvious and already been worked through.
Potentially this could work in reverse too (although could be achieved with manual movements) because I like to pay off a minimum of £100 a month, PLUS what I’ve spent during the month to get the balance down.
Definitely an edge case though and it sounds complicated enough without me throwing my hat in the ring (there’s a reason I work in operations and not engineering )
Personally I’m not that interested in moving money around to cover my credit card bill as I will have done that prior to spending.
What I would really like is the option to select my credit card bill and choose to pay, in full, or in part and specify the source of the money, whether that is my personal, joint account, a pot or an external account (such as starling ).
I wouldn’t want to automatically transfer money from my current account to my credit card pot when I make a purchase, as often the money I will be using to pay for it is in one of my many pots already.
I would like however to get a notification when a new credit card transaction is detected, asking me if I’d like to transfer the transaction value from my current account (or another pot) to the credit card pot with a click of a button. I think I’d find that useful instead of doing it fully manually like I do now.
I love the Summary date picker, but I’d love to be able to select multiple months - or even select a custom date range. Calendar months doesn’t quite cut it for me. (Although I’d like to compare spend across months or other periods!)
Can we have notes and receipts please? I’m a heavy user for the Monzo account and I need them!
Similarly, could we get the same transaction history options (number of payments, average spent etc) from the main current account? Tapping to see a filtered list is amazingly useful.
On the credit card pot point, I wonder if there’s something that could be done short of full automation? Perhaps if there was an option on the transaction screen to move the amount of that transaction to a pot or account? So if I have a £35 transaction on my credit card, I could tap it and move £35 from my current account to the pot I pay my credit card from. Or, if I’m managing money differently, use that £35 from my eating out takeaway pot to directly pay my credit card?
I’ve thought about this a fair bit, as I had an idea a couple of years ago to try and rig up a Python script to do this with the Monzo API. There are so many settings etc that make it really difficult (EG I want all my daily spend to be assigned to a pot straight away, but then I buy a laptop that I don’t have the liquid cash for right now, so exclude that transaction etc).
Have you guys thought about adding a button to the transactions in the Connected Account Feed? Something like Add this amount to <Pot>?
Or to come at it from the other way, create a linked ‘Credit Card’ pot, which when you try and add funds to it prefills the amount to add with connected_card_balance - current_pot_balance.
Trying to automate this stuff sounds like a nightmare, honestly!
Personally I don’t use credit cards for day to day spending (due to not having the view of spending like in monzo so maybe with the new connected accounts I might change that). But that aside if I did, I would have one card for day to day and a separate 0% card for spending like a laptop etc, which would avoid this.
It’d be great to bring goals to connected accounts!
Imagine if you had a goal on a connected savings account. You put in what you want to get to and by when - and Monzo suggests a regular standing order you could set up with just one tap!
Similarly, entering promotional end dates for connected credit cards - and having Monzo set up a repayment scheme before that ends would be amazing. Or even just warning you before the promotional period expires!
And, to go back to the credit card chat, how about another halfway house for credit cards:
A Bills Pot that has the goal automatically updated to be whatever the current balance of your credit card(s) is? (I currently do this manually, but to do it automagically would be amazing).
, thanks for all your feedback so far! Any further thoughts or reflections on the changes now we’re a week on 
?
The time delay between the monthly repayment coming out of Monzo, and showing up on your other account:
Not for V1, but not everyone wants to pays off their entire balance in full (and so don’t need to put the full amount aside), how do we handle that?
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That definitely makes sense.
below) as you match the transaction, add it, then leave it. And that way the pot won’t just undo any manual addition/subtractions a user makes. Appreciate this is moot if transaction matching isn’t possible.
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I’m a heavy user for the Monzo account and I need them!