AZIMO and money transfers


#1

It has been implied that Monzo do not plan to send their own SEPA or SWIFT payments but get customers to use a third party service thru their marketplace?

If that is the route they are taking can they please ensure a choice of providers and a comparision as to which is best?

For example to have a choice between Azimo and TransferWise and not just be forced into only have one option say TransferWise.


(Zain Jetha) #2

I’m sure that will come in time, but I don’t believe the Marketplace will be good to go in time for the current account launch, so perhaps the choice will come later once Marketplace has been thought through and well developed, once Monzo have accomplished migrating everyone to current accounts - their biggest priority.

In the meantime though, Transferwise is hooked in as a standard part of the current account and not a marketplace bolt-on, and is certainly better than what you’d get using any other legacy bank transfer site.

You could always do your own due diligence on a per-transaction basis, and report your findings. There is nothing to stop you from using azimo’s app with a monzo debit card.


#3

Can I use my monzo pre-paid with Azimo successfully? Azimo suggests I cannot.


(Marta) #4

Yeah, prepaid is sometimes not cool with certain merchants, Transferwise also doesn’t allow prepaid cards. Similarly, credit cards are sometimes rejected, it’s just not preferred card type for the transaction.

Maybe you can give it a try and hope they don’t recognise it properly, but that would be knowingly breaching their ToS. :wink:


(system) #5

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