Allow top up by more than one debit card!

Monzo USA 🇺🇸
1

Hi,
I am wondering how easy or difficult to enable the option to allow top up by more than, current restriction of, 1 debit card.
Revolut currently allows top up by multiple debit cards.

2

It’s just a beta testing feature I think, once it’s out of beta I don’t think it will allow topups , it’s meant to be like a checking account (afaik)

3

I don’t think it is a beta testing feature. We can’t expect Monzo to be used as a primary standalone bank account until all the features are enabled. Even then, many will try to use it as a secondary account in which case top up feature is a critical one.

4

Going off what they did in the UK , once all banking features were available they turned off card topups.

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5

That’s kind of surprising due to the fact that no other US banks currently allow this top up feature, as far as I know. This is something unique feature available with Monzo, Revolut and N26.

6

Over here it was similarly unique but also very expensive. Cost won the day in the end.

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7

Though over here, it’s trivial to transfer money between banks instantly, so once Monzo was tied into the Faster Payments network, there’s no great need for the debit card top-up feature. In the US, moving money between banks is not easy so they may find it is more of a ‘necessary’ feature they have to keep around.

8

Yeah. it takes up to 3 days to complete an inter-bank transfer here. That’s why the payment apps - PayPal, ApplePay, GooglePay, Cashapp, etc - are trying to fill up this gap by providing the customers with instant transfers.

9

And that’s where it would be nice for Monzo to accept the cards issued by those apps (well, for Venmo, PayPal, and Cashapp, at least) to transfer funds to Monzo alongside bank debit cards instead of having to wait and initiate a transfer out from those apps. I mean, they technically already do, but as multiple cards instead of locking people down to one card.

2 Likes
10

Totally agree with you on this killer feature :+1:

11

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