Using bank transfers in the full current account has highlighted some gaps to me:
There is no confirmation screen to check the recipient details and reference are correct. I would expect to be able to review before committing the transaction.
When entering the sort code and account number it would be good if (a) the bank and branch for the sort code was displayed and (b) a modulus check was performed to check the account number exists. Whilst this doesn’t guarantee the customer hasn’t made an error it does mitigate the risk.
It should be possible to set up a new payee without making a payment.
It would be useful to be able to list all the payments to each recipient with a running total (as with card transactions).
On investigating how to make faster payments (etc) from my new current account, I was very disturbed to see that the android app insists on being given access to my contacts list. These facilities should be entirely separate. I may well want to have DDs, SOs, make Faster Payments etc, without wanting to make monzo-to-monzo payments to contacts.
To be clear, for me, giving Monzo access to my contacts lists is releasing private data about other people without their permission, and I really do not not wish to do that.
So please, change the payments tab and associated programs to allow people to run their current account like any other, without access to contacts. Then give them the choice to release the contact data or not, as they wish.
The next version of the Android and iOS apps will allow you to make bank transfers without having opted in to Monzo to Monzo payments or use of your contact list. This work is done and is currently being tested.
Not necessarily I’ve put out software with known shortcomings before in order to get core functionality in place, and followed it up with an improved version afterwards. Not everyone reports issues, but it’s always best to deliver the best experience you’re able to produce IMO.
In this case, I don’t share @christ’s view on this but it did give me a very small “oh” moment when I had to opt in. I don’t really mind doing it but I’m fairly certain in my case it’s not something I’ll need.
Yes, thanks, I knew that. The initial problem was that I couldn’t make any payments at all unless I allowed access to my contacts. Monzo promptly used this information, highlighting one contact who uses Monzo. Monzo therefore have, at least in principle, a whole raft of names, email and physical addresses of my contacts, which they might use in some way. I hope they don’t.
Whilst I have since disabled such access, I don’t know if it will still let me make payments. I’ll find out in due course.
Actually the contacts feature uses a hash of the phone number and only sends a partial hash to begin with followed by a full hash if the partial one matched. Full phone numbers are never sent, and full hashes are only sent if the partial hash matched.
When the P2P payments feature was first released, I was glad to read that Monzo had designed the system with privacy in mind from the outset. Bodes well for the future: great, convenient features without sacrificing privacy.
If it’s highlighting the fact that a contact uses Monzo then Monzo would already have their name, email, physical address etc given that they needed that information to open up an account.
Note: I don’t share the same concern with seeing my contacts in the app BUT I do understand why you and many others would prefer not to and I’m for them giving us the option to not have access to contacts without blocking use of the payments tab.