Cash Deposit: First Look!

My little story from today.
Me: hello, I’d like to put this cash on my card. You should be able to use the paypoint machine
Cashier: /looks at me skeptically/ are you sure?
Me: yes, I work for them! It only went live for staff yesterday
Cashier: oh I’ve got one of them! /Impressed look/

processes payment

Me: launch is imminent for customers
Cashier: tell me when it goes live!

This is an abridged version of my conversation bought to you by its cold outside

She also said ‘its really good’ (the app)

Now I’ve finally got rid of my birthday cash left from 5 months ago ​🙈



Edit: now I’m home here’s the paypoint receipt


this is android app so this is why I have posted here, please do not discuss the fee in this thread, please see here as to why


Like those screenshots, that’s really clear :+1:


Looks like Monzo made a change to the wording :hot_coral_heart:

Really awesome stuff Beth! Thanks for sharing the screenshots, looks really clear :grin:

Loving the faded “Upcoming” - Guess that’s there for 10 minutes whilst Monzo ensure that nothing “Went Wrong” with PayPoint? :slight_smile:


Indeed, that was as soon as I deposited. Got a push notification saying it would be ready soon but didn’t screen shot it in the excitement. Monzo letting me know it was all done.



One question on the wording - did you give Paypoint £26 initially? If so, I’d expect the notification to say “£26 deposited, and we charged a £1 fee”, like it does in the in-app screenshots :+1:


Good spot. This is a reason why we test :raised_hands:


Follow-up question - where might I purchase a Premium Box of cat?


Should the £1 fee really be included in the £1000 deposit limit? As a charge for the service I’m not sure.


Yeah, I think it should, unfortunately. In Beth’s example, she’s depositing £26. That’s whats important (should HMRC need to check) to record in the account ledger. The charge is then taken from that deposited amount.


I agree that it makes sense with the way it’s being done but i think you should be able to have £1000 of cash actually going into the account with the £1 charge being excluded as that’s not money you can spend


But then you could potentially deposit £1001 - Which I imagine causes all sorts of issues with Monzo/PayPoint.

The way it’s done looks good to me and is probably the easiest to understand.

I don’t think it makes much sense that the fee is classed as a deposit. If you deposit £10, £11 shouldn’t come off your total.

It actually means the £1000 deposit limit is unattainable - a £1000 deposit would be declined, because that means you’ve deposited £1001.

The fee isn’t you depositing money, so it shouldn’t effect the deposit limit. The fee is a charge by Monzo.

By the same notion, if the fee was variable, would you charge a fee for the fee too?

If the fee was 1%, and you deposited £500 (so a £5 fee), now that fee is a deposit, do you charge for that too? It makes no sense to class the charge as a deposit. It isn’t.


I believe Beth deposited £26, and £26 came off her total.


The fee is taken from the amount you deposit. Beth put £26 in, which is reflected in all the text/screenshots. Monzo THEN charged her £1 for doing that. Doesn’t change the fact that she deposited £26 to her account initially.



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As far as banking and ledger entries go, using the deposit amount is the clearest for any filing, tax purposes etc.

You’re choosing to deposit £26 knowing there is a £1 fee. It doesn’t change that you’ve deposited £26 of cash.

There is an indication of your charges, so you can see how much of your deposit you’re using up with your fees. (make larger deposits more frequently if possible)

I understand it’s not cash you’ve received into your bank to spend, but it is the amount handed over at the till and processed. This would be why the whole deposit is taken from your allowance.


Ignore me :joy: I didn’t see the clarification that £26 was deposited. I just saw the screenshot and saw “£25 deposited” with £26 against the limit.

I like it how it is right now haha.


If you wouldn’t mind, could you show us how this transaction shows in the main feed? Does it just have a green £25, or is there any indication of the £1 fee in that view?

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I doesn’t help that @BethS decided to deposit such a random amount :wink:


What evil person gives someone £26 for their birthday! @BethS should have had a “notes only” policy! :joy:

Nothing worse than misunderstanding something, and then going into some good detail about why! haha.

FWIW… I agreed with your explanation of the misunderstanding! :joy: