Applying for an overdraft

[anon60819348]

How do members apply for an overdraft?

What is the limit?

[nexusmaniac (Marcus, Backend Engineer 🛠️)]

Hi

I’m not sure anybody outside of Monzo is sure yet? I’d keep an eye out here and definitely on the Monzo blog (here) for more info

Overdraft position

No it’s not. Judging by the way that Monzo’s handled this sort of thing in the past, I’m sure there will be a blog post to explain how the overdrafts will work in detail, once they’re available to users.

iirc the limit will be £1000…

[alexs (Alex Sherwood)]

@anon60819348

How do members apply for an overdraft?

The overdrafts are still in internal testing at the moment, they’re not being offered to users yet.

Here’s all of the details that we have so far, if you have any questions about how they’ll work, then so that we can keep all of the details in one place, please post them in this topic

Overdraft position

Apologies, I probably jumped the gun a bit in my presentation yesterday. Just for the sake of full transparency, here is what I said yesterday: we’re beginning non-staff testing of overdrafts next week the pricing we are testing is 50p/day with a £20 buffer and no interest rate A full blog post explaining how we arrived at that conclusion, how testers are picked, etc is coming next week Thanks for holding us to a high standard @alexs!