I’ve came away from monese as the account wasn’t providing the service I expect from a bank and monzo has out done themselves by admitting when service is not what it should be and giving redress without question something lacking from tsb fiasco and some other providers like Royal Bank of Scotland. Credit to monzo they stick by their customers not dump them when they complain too much
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£20,000k but only up to £250 in coins… 
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Very useful for business customers 
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Drug dealers 
Buskers 
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Really? Unless your tongue was firmly in your cheek, that’s an incredibly negative spin to put on it!
Buskers could pay £250 in coins into their Starling account at any PO for free, every day of the year.
They could do that with Monzo at a PP location but they’d be stuffed after 4 days… plus it would cost them £4!
Although I’m sure they won’t admit it on here, I think even the most ardent Monzo supporters would agree that Starling’s offering is infinitely better.
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I think Starlings offering is better as they have business accounts to consider as well which need cash deposits. The charge for business users will help subside the personal accounts. Yes if you deposit a lot of cash Starling’s is obviously better but I do it so rarely that it’s not an issue.
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In reality people won’t want to pay in cash every day, but having fees and such low limits is prohibitive.
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Have Starling announced their limits? I can’t see anything public yet.
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Limits, restrictions and fees on cash deposits are crazy. I get why, but any fee to pay in cash is bonkers for the consumer. Verry happy to have my old NatWest account still open with no limits or fees and just a transfer away from my Monzo account. I’d suggest this method to anyone.
In fact with a different card network (Visa), cash and cheque deposits and the ability to take money out of a cash machine via the app, My Natwest account has become an essential part of my Monzo account that I couldn’t be without right now.
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This is not aimed at anyone specifically. Why does it appear to be ok to use another banks service to deposit cash for free and then transfer it over? How does that bank pay for that? With fees from their customers (in part I guess) through overdraft, bounced direct debit etc.
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Because that’s not subsidising Monzo, it’s supporting it 
Only when you exclude charges, deposit limits, annual limits, large cash withdrawals, instant credits…anything else I miss?
Stretching it a bit, no?
If Monzo charge for cash deposits and their customer(s) choose to pay the cash in via another bank they keep open purely to avoid the charge is that not indirectly subsidising Monzo?
Yes I know it’s the system.
Of course it is. Guess I didn’t hit the sarcastic tone quite right.
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It’s been a long week 
Incremental iterative development. They are a better bank for more people with this than without. So the group in ‘everyone’ is slightly larger. It can still be made larger again, with time.
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Larger amounts of cash expose more risk to being used for money laundering, so restricting it at first while understanding more about behaviour/ building out systems to detect cash based fraud mitigates the risk.
I would imagine the fraud detection in use for regular card payments and electronic transfers would need more development time to work as well for cash coming in.
Not to say it can’t be increased in the future, but means that customers have something now that suits some people, and allows the other systems involved to be tested with real users, rather than delaying.
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Yeah. As a shareholder. If I have shares in any company can I just rock up and use any service they provide for free?
I’m not sure that’s the point. As you noted above, it’s the banking system. Open an account, use it the way you want to. Ultimately if the banks don’t like it, they’ll have an incentive to change it. 
Charge for it you mean?
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