Can I opt out of overdraft?

[alexs (Alex Sherwood)]

Here’s Tom’s comment on this -

@anon91821566

You shouldn’t need to pass a credit check to get a current account with no overdraft. But we may need do an identity check.

given that you’d need to agree to a credit check, in order to set up an overdraft, my assumption is that it’ll be opt in.

And as a general rule, it won’t be possible to go overdrawn unless you ask -

Please keep the prepaid cards

It’ll be impossible to go overdrawn on the debit cards too, unless you’ve requested an overdraft or it’s due to an offline transaction / delayed payment, which also applies to the prepaid cards. Monzo will even bounce Direct Debits & stop Standing Orders, if you balance is 0 without charging you. Obviously you’ll have the tools that you need in order to make sure that you set aside enough money for those payments in advance though.