An easier way to add money to your account [fully launched]

Hello :wave: I’m here to let you know that we’re rolling out a new feature that significantly reduces friction in how you add money to your account from the Monzo app. We’re calling this new feature “Pre-approved transfers”.

Add money :money_with_wings:

Adding money to your Monzo account from within the app uses Open Banking to make a payment from your other bank account to Monzo. The main benefit of this is that you are not required to manually enter account details. This makes transferring money less error prone, more secure and generally quicker (because Open Banking uses Faster Payments).

However, you’re still required to approve each payment with your other bank. This usually looks like being sent to the other bank, logging in, pressing “approve” or “continue”, and being sent back to Monzo. This is still a fair amount of friction and can be made worse depending on the experience with the other bank.

What’s new? :sparkles:

Open Banking has been progressing in the past few years and the latest piece of technology to be released is Variable Recurring Payments (VRPs). This new feature enables customers to define and approve a set of limits on their bank account such that they aren’t required to approve each payment (as long as the payment falls within the limits).

For example, you could set up a £500 monthly transfer limit on your account and make as many Open Banking payments from that account until you reach the £500 limit. After this, you’ll be required to approve each payment or approve another set of limits on the account.

Adding money - but easier :rocket:

We’ve made adding money to your account even easier using this new piece of technology.

You can now set pre-approved transfer limits with your other bank from within the Monzo app. All transfers that fall within the limit won’t require you to leave the Monzo app for approval; the money will move instantly. This significantly reduces friction and the amount of time you’ll spend outside of the Monzo app.

Wow, tell me how :eyes:

When adding money to your account, you’ll have the option to set up pre-approved transfer limits. You can either select “Next” which will take you to the setup screen or select “No, thanks” which will continue with the current add money flow.

After choosing limits for the other account, you’ll be sent to your other bank to approve or reject the limits. You’ll then be sent back to the Monzo app. If successful, the transfer will take place and your limits will now be set up.

This set of limits is now available to use to add money to your account; you won’t be sent to your other bank for approval (as long as the transfer falls within the limits).

If you don’t want to use the pre-approved limits or would like to create another set of limits then you can do so by selecting a different “From” account.

Managing pre-approved transfers :person_tipping_hand:

Limits will refresh over the period for which they are defined, i.e. monthly and yearly. If you reach your limit within the period then you can continue to add money by using the current add money flow or by setting up a new limit.

To view and manage your pre-approved transfer limits, navigate to Manage :arrow_right: Limits & Controls :arrow_right: Pre-approved transfers.

How do I turn the feature on and off? :vertical_traffic_light:

You’ll be able to turn on the new feature under Settings :arrow_right: Monzo Labs :arrow_right: Pre-approved Transfers (UK only). You can turn the feature off in the same way.

It’s also possible to use the existing easy transfer flow by selecting “No, thanks” when asked to set up a pre-approved transfer limit.

Bank support :bank:

Not all banks currently support this feature. If this flow doesn’t appear for your bank of choice then it will likely be that they don’t support these limits. We’re keeping an eye out for when banks finish their implementation and will update the app accordingly.

For clarity, here’s a list of banks that currently support this feature:

  • Barclays
  • First Direct
  • HSBC
  • Lloyds Group (Lloyds, Halifax, Bank of Scotland)
  • Nationwide
  • NatWest Group (NatWest, Royal Bank of Scotland, Ulster)
  • Santander

It’s worth noting that setting up pre-approved transfer limits may be subject to more friction than a single payment. For example, you may require a card reader to set up these limits. We believe that this additional friction is offset by the significant reduction in friction provided by this feature.

Feedback :mega:

We’re releasing to Labs for the moment and so the feature isn’t fully polished. Any feedback is very much appreciated and will be considered for full launch. We’d be interested to hear about your experience of setting up limits with other banks, what you think of the feature journey, and any other tweaks that you think will make a difference.

Feel free to drop feedback in the comments below.

Thanks :bowing_woman:

Thanks in advance for trying out the feature. We’ve been working hard to bring this to you as soon as possible so we hope you find it useful.


Monzo teams at the moment really be like
giphy (1)


Monzo really are spoiling us with all these features lately!

I love this… Although I think it would be good if we could see currently authorised accounts at the top of this list:

Maybe under it’s own “Previously used accounts” section


Just tried with NatWest and got an error (in their app). A fairly generic ‘technical issues’ one. I did try quite a low amount - £0.05 - but set the limits to the defaults suggested (£1000 per transaction, capped at £5000 per month).

The flow was great though and I’d suspect this to be a problem on the NatWest side rather than Monzo :slight_smile:


Is Monzo part of this list (but perhaps removed here for clarity)?
I mean does the potential to pull money from a Monzo account via VRP exist for other open banking apps?


Works for me with HSBC, so smooth!

Yes, I think this list needs a little finesse!

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Worked seamlessly with NatWest great work.

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we haven’t built our VRP API yet - we’ll be working on it soon


Hey - would you be able to post a screenshot/share more about what happens in the Natwest app? We can get in touch with them and see if they can look into this for us.


Maybe I’m in a parallel universe but I thought you could do this already!

This is good feedback thanks! We have thought about integrating the accounts you’ve setup for pre-approved transfers in the move money screen for quick access, but this is also a good shout :slight_smile:


Sure. There’s a screen where I select the account I’d like to transfer from (it’s a joint account in case that’s relevant). There’s only one account I can pick. The ‘To’ account is already populated with my Monzo personal account details. I can post a screenshot of this screen if that’s not enough information but I would have to redact some details - let me know.

I then click ‘Confirm sweeping permission’ and am presented with this error:

In case it was a problem with my Monzo personal account, I tried the same process with my Monzo joint account and got the same issue. In both cases I tried to move £0.05.

Hope that helps? Let me know if you need anything else.


Activated this, and in the feed it says to tap to learn more but that doesn’t actually do anything when you tap:

I set my NatWest account up smoothly, no technical issues at all.

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As the entry point for this feature is the home screen (where you tap ‘+ Add Money’), we thought it was best to have this feed item keep you there rather than somewhere else, sorry that this was confusing!


I’m not sure I follow. To set up the limits you don’t go via “Add Money” but rather ‘Manage Accounts > Pre-approved transfers’.

Just not sure that I follow what the tap to find out more is trying to do :grimacing:

(unless I’ve misunderstood your post :laughing:)


The “Tap to find out more” bit is just something we get with all Monzo labs features but don’t always use, it’s not something we can disable easily.

While you can set up a Pre-Approved Transfer through the Manage Accounts menu, our main entry point we expect people to use this feature through is just the Add Money button - if you have this labs feature enabled and go to add money and don’t have a pre approved transfer set up, we’ll give you the option to create one as part of making a payment.

The Manage Accounts menu section is mainly meant for managing your pre-approved transfers, and seeing what payments you’ve already made. As you saw though, we also allow you to set up pre-approved limits here without making a payment.


Ah I understand. Thanks. It’s a little strange having the tap for more but if it’s hard to remove it’s hardly a bother.

I went down the manage route first rather than add money so that’s where my confusion was.

All went smoothly either way!


I’ve pinned this till tomorrow morning @AlanDoe as it seems to have got a little buried, including being missed by myself and seeing it in Labs first

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