I was wondering where in the roadmap is the official Monzo bank statement support? I’ve had to apply for a visa and using CSV transaction history + confirmation of account I got from Support wasn’t good enough for the Embassy. I had to jump through some loops with my old banks and as I don’t use it at all now, had some convincing to do at the visa centre.
So would really like to get official statement support, I imagine there is no massive work to be done for that and it would help a lot of people (especially us expats).
I would like to think this is a priority feature as part of the current account development. The fact is that Monzo alone are not going to entirely and magically digitise the finance world. Some aspects of life still require bank statements as proof of income and/or expenditure. In a few months I’ll be applying for a Partnership Visa for my partner to come to the UK. As the person financially responsible it’s my income details and bank statements that will have to go off with the application. What Monzo currently does won’t be accepted so I’m hoping by then (around March 2018) it will be a live feature. Can anyone @Monzo speak to the timeline of this feature? If it’s going to be a long way off then I’ll have to go back to using my Natwest account so I can get the statements when I need them.
I agree with everyone that it is a bit annoying but I’ve found it’s not nearly as bad as it seems in reality - obviously this is just my experience and take it for whatever it is or isn’t worth.
I’ve been going through a mortgage application process which needs reams and reams of paperwork including bank statements and have found Monzo customer support will produce them instantly and supply a PDF file - they look good and have all the expected information on them and the mortgage company etc were perfectly happy with it in the end. Just to hedge my bets in case of problems with the PDF version, I also requested a stamped paper version which arrived just a couple of days later in the post.
In contrast, my legacy bank do allow you to export statements directly from the online banking, but it turns out they only do them in 3 month blocks and only at the end of that block (so, for example, you can’t get a statement covering November and December until the 3 month block they’re included within has concluded) and there was no obvious method for requesting paper should you wish to. Having gone through the process with both banks, actually Monzo turned out to be much less trouble then the other bank, and a pleasant surprise on that front.
Bearing in mind that this is their “internal quality”, not-a-proper-feature version of the functionality which is still beating at least one big bank, it can only improve.
