in the ‘add money’ section I dont have the option to top up via debit card;all I see is ‘Bank Transfer’ ,‘Salary’ and ‘Cheques’ . I am missing the ‘card’ icon in the top right corner of the screen; what is going on? How Do i top up with a debit card?
This function is not available to new users, how long have you had the account? Think it’s hidden for those who’ve had it from prepaid days
I just got my card yesterday. But i registered long ago when they were in BETA. So how do i unlock this feature? If I can’t im closing my account
You can’t add it as it is no longer available, you will have to transfer via bank transfer.
WTF!!! feel so cheated. Gonna close my account now; shame , my friends who have it can top up . thanks all for the answers
Is there any reason you can’t use bank transfer?
Ok well you can always try Starling, they love top ups by card
and Monese, they also allow card top ups.
Topping up by card costs Monzo a lot of money. It’s much better to transfer money by faster payment.
Love the debit card topup option. Imo, Monzo is making a bit of a mistake chopping and changing key features, like overseas charges, debt card topups…
Well it all costs money hence it going.
Bank transfer is free and easier or better still have your wages paid in to your account
Debit card abroad is free and easier if not use a travel card like Starling bank
I can see why these things are going. Just from a tactical point of view, it was probably a mistake to have them in the first place. Removing features is always bad press, no?
Does anyone know how much it costs them? Maybe it is worth to keep the top up option to keep some people in. After all, they will spend with their cards so will make money for Monzo, some will get overdrawn, some might use the transfer option, marketplace and so on. Telling them to go away sounds a bit reckless
Great update from
@cookywook Some additional stats:
We process about £1bn a year through card topups, overwhelmingly driven by users who’ve upgraded from the prepaid card and not switched to bank transfer yet.
The cost of providing card topups to the average upgraded prepaid user is £12/year. Only about 50% of these users actually use card topups (the remainder rely on bank transfer), so the cost for the people who actively use card topups is around £24/year. Obviously, for the new users…
No per topup figures though
That’s about right.
A 0.5% fee would more-or-less cover the cost of card topups. So topping up £100 would cost 50p.
Not cheap but it might make sense to keep it for some users to keep those users in
Monese is way too expensive for my taste! I wonder who gets accounts with them in the UK? It must be people without credit history.
It is kind of similar to some American prepaid cards that charge you a fortune for everything
Starling bank is NOT a travel card it is a debit card just like Monzo. If you looking specifically for a card just for travel rather than a full current account you could look at WeSwap.
I would say travel with proper credit card with no fees. You will avoid the lack of acceptance drama in most places, if things go bad you can refer to S75 to argue for reimbursement.
You may say it is a fortune but to pay 0.35% for a card top up is better than not being able to!