I’m not worried as I’m not eligible to give Monzo my hard earned cash as overdraft fees
I do want one but I’m getting fed up with Monzo roll out programme
But in the meantime why should I be worried about what’s being charged now
Part of the eligibility criteria was to target those that routinely go into overdraft
Monzo wants to educate responsible lending and banking
Well here you have it 50p a day
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Can you share a link or quote where a Monzo staff member has confirmed that? I seemed to have missed that.
Thanks.
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Spinning in circles here
Trawel the forrum and you may come across it
That’s where I read it and further more individuals where supporting it
Bazaar behaviour I would agree
Really? I think I “trawel” the forums quite extensively, and I haven’t come across it (apart from one or two persons using wild conjecture.) I’d really like a source, please! 
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I agree the way Monzo has handled this has left something to be desired in terms of communication , Tristan has said he will address this once he has investigated 
Edit - I have deleted most of this post as it could actually be construed as a personal attack which if it was seen in that way I apologise unreservedly for
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9 posts were split to a new topic: Removed Posts - Overdraft Thread
I’d really seriously like to know where you got that from. Please enlighten me. I’m really interested!
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One of the nice points when applying for the overdraft is that Monzo clearly states an overdraft is for short term lending and can be collected at any time, though they will generally give 30 days notice.
You’ll get a notification from Monzo (does the notification switch affect overdraft alerts?) when you dip into it, and you may want to enable text alerts for Barclays.
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Probably me pointing out offering overdraft to people not using it isn’t helpful testing.
But that’s my guess.
Interestingly, I got the offer after Tristan’s reply & after a month where nearly reaching 0 near the end of the month. No request put in - so they are still slowing enroling people I guess.
Hey all, I’ve just removed a few posts that were taking this thread a bit off-topic.
We know it’s been a while since our last update on overdrafts, and hopefully we’ll have some more info for you soon. Thanks for your patience in the meantime.
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Just like to say that this is not accurate, I’ve never been into my overdraft on any account in my life, but got offered a Monzo overdraft last week.
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We are expecting an overall response from Tristan tomorrow. This may give better insight into how things are getting on with the rollout.
It has been the absence of updates that has fuelled the speculations about approach, eligibility etc. I don’t for a second think Monzo are targeting customers more likely to use overdrafts/incur fees.
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2/3rds (50p versus 75p). 50p is still an outrageous amount to charge for going overdrawn by £30 for a day.
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If that’s true, might Monzo have a problem with no one using the overdrafts, meaning they don’t make the revenue that they’re counting on having in the short term?
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Here is the real rub, I have an overdraft facility equal to my monthly income from my legacy bank, which is a standard yardstick,. I intend to transfer across when CASS comes but if I do CASS and then I’m not eligible for an overdraft with monzo then my legacy bank cuts my overdraft because there’s no income in that account anymore. This is a catch 22 situation. Why can’t we have an ‘in principle’ decision based on you bringing your income to monzo.
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Is this something that you actualy need with Monzo
If you read this thread in its entirety you will meet some interesting thoughts about overdrafts
I suppose the answer is no, but I’m used to having it, I usually keep my account in good order but sometimes enthusiastic spending (example buying a good deal holiday or tix for a popular music artist) I don’t have time to think about crediting my account and go into my overdraft. I could do what others do and have my overdraft in my account but then I like to leave my account empty nearly so someone doesn’t go on a contactless 30 spending spree if I lose it. I would like a pot which would be open to selective company’s say see tickets Ticketmaster and my holiday then if I’m enthusiastic I can spend a pot without thinking hope that’s clear. That’s why I’m reluctant to ditch my main account because using monzo as a prepay card suited me well. I know if they introduced fees for top ups that would make me move
That all sounds like very good financial housekeeping
I for one like to see that buffer for the totally unexpected like car breakdown or washing machine needing replacement etc
We will just have to see how the roll out programme progresses
I think I’ve said enough about overdrafts and will leave it for others to bash around
One answer is to keep the overdraft amount in my legacy account and just use that for impulse buying. I know though that once my legacy bank stops getting regular income and direct debits go and it gets used occasionally they won’t be happy and try to close me down