Hi all. Just a thought but what if Monzo allowed its customers to add nicknames to bank transfer payments? That way, when it appeared under ‘Recent’, it would be easier to identify. At the minute it’s name/sort code/account number.
Unfortunately the name on most accounts I externally transfer into (the other current account, some savings etc) is my own, so picking the correct one is a challenge sometimes. Being able to look at it and see “Other bank current account” or “Car repayment account” would be handy. Once Monzo offer a universal iPhone/iPad app plus some type of interest on Pots I’ll make a full switch but until then this seems to be the only way to manage things…
Anyone can correct me if I’m wrong but you could just put anything you wanted in the name field when creating the payee. It doesn’t have any impact on the transfer.
If this is the case maybe Monzo could make this clearer?
Yep, the “name” part is purely for your reference.
So you can absolutely add a nickname, instead of the recepiants “formal” name.
This is good to know, I always thought (incorrectly it seems ) that the “Name” field was used as part of the verification for the transfer.
To be fair, they do make it look that way.
But I’ve got some weird and wonderful names in my payees list
They don’t check names on bank transfers at the moment they do if you were sending a chaps payment. I believe the plans to start checking the name on faster payments .
That’s great to know! Thanks. Hopefully Monzo will make it a bit clearer for users. Since online banking started I’ve been using the formal names associated with accounts.
Yeah, new rules are planned to check names of the account where payments will be sent. I received an email the other day from First Direct stating they will be changing their terms and conditions to accommodate it.
So if you had a payee set up as “Monzo - Joint”, that wouldn’t work?
Let’s hope Monzo set a trend and add some special code to allow a formal name and nick name to that screen. It would make things a lot easier for customers.
+1, a nickname for account transfers would be hugely helpful