Build the boundaries

Monzo app is amazing and we can control n number of things using the app. Frauds are out there everywhere and most of the time as technology improves, frauds find a way to bypass it for personal illegal benefits. One such bad tech is card skimming. One can skim your card is Leeds and use it in London high street. To avoid such instances, why not have a control over the geo-location of where my card can be swiped. Eg. You stay in Edinburgh and have no travel plans in near future, you can set the card transaction to be approved only in POS/ATM in Edinburgh or if you are travelling, all I need to do is set an option which says ‘Approve transaction within 10m radius’ so even if a person skimmed your card and tries to use it, it cannot be used in other locations.

Monzo don’t allow the magstrip to be used in ATM’s (the easy to clone part) without it is turned on within the app. (magstrip at point of sale is always enabled unlike with starling)

Geolocation based security can be enabled in the app but by default it is turned off.

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A great idea but the amount of POS (position of sales) equipment that are registered to places nowhere near the store, ie. registered through the head office that can be many miles away is quite high.

I believe turning this feature on could possibly make the number of false positives/failed transactions quite high. Overall geolocation is a great feature depending on how it’s used as part of security it’s a great idea but rejecting alone on location may not always be the best course of action.

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Location only works if you’re using it on iPhone, no such option in Android app


Parking meters either come up as online or the head office of the council whos meter it is.

Vending machines are the same along with market traders machines commonly use their home address.

I don’t have it turned on but the no magstripe ATM without it being turned on must reduce most fruad due to magstripe at POS not working in the UK on any card with a chip.