I don’t think I’ve ever used a paying-in book for Lloyds 
If it is paypoint that significantly limits availability… shops have been getting rid of PayPoint because of high costs.
I don’t know of any pay point retailer near me, and I know of about two in Barrow…
This is what it states on their website " With over 28,000 locations across the UK, our network is bigger than all of the banks, Post Offices and supermarkets put together. Find your nearest store below, and filter by services offered and opening hours."
I mean it may not even be PayPoint but that blurred out logo looks familiar if you squint 
Maybe it’s just years of personal experience, but for some reason paying a fee to deposit/withdraw cash is anathema to me. £1 isn’t that much and it’s probably reasonable compared to alternatives but I would imagine many people feel similarly.
The cost argument also doesn’t really resonate with me. There’s a cost to providing everything but this is one area where in reality the business model and cost structure massively favours Monzo relative to “legacy” banks.
NatWest and Santander don’t charge me a fee to use a branch / call them / download their app, so it feels a bit like Monzo having their cake and eating it when they don’t have many of these other costs.
As for cash being legacy, I hate using it as much as the next tech hipster but the reality is that we’ll all be dead long before cash is.
All that said, it’s not an issue for me as I just wouldn’t use it and would chalk it up as another reason that I would never ditch my other accounts for just Monzo.
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Yeah i agree completely.
Slightly unrelated but i feel like this is another example of Monzo pushing a feature/decision and then taking feedback, why cant they go back to the days when they would ask for the communitys views before implementing?
On what grounds?
We aren’t profitable as a company. We aren’t even close once you apply our fixed costs. We’ve got a huge amount of work to do to get there. Yes, we’ve taken a large amount of investment and had a high valuation, but it’s funny - people tend to report that as a success, but the flip side of the coin is that it also means we need a huge injection of capital to stay alive.
One of the reasons we’ve been able to get that is because we’re committed to working hard towards profitability and our investors can see that. Absorbing the costs of new features just isn’t a smart move right now.
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Sorry but this isnt a feature its a necessity for many and if a user is charged for this I cant see them wanting to have monzo as their main current account.
Its like upgrading to a ferrari from your trusty old vauxhall with all its flashy gadgets and gizmos and then realising is it really worth it having a ferrari for my commute to and from work when the old car did everything and actually cost less?
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I have no idea about your finances but I would imagine that the general business model is high fixed costs (mostly staff) and then very low (likely decreasing) marginal costs for every new customer. Being online only you don’t have any of the other costs which a regular bank has (branch network, staff etc) which is a massive advantage/saving.
I do get that Monzo isn’t profitable right now but that’s not my primary concern (and likely just a timing issue). Free banking is just table stakes in the UK and, while I appreciate how nice Monzo is to use, I have way too many good enough options available to me which don’t charge fees.
I’m sure that Monzo is bleeding money now, but over time as customers build up I’m fairly confident that you’ll be extremely profitable.
I’m sure you can understand that whilst we’re losing a lot of money and have just closed an investment round that was in no small part based around our huge progress towards becoming profitable, that now wouldn’t be the correct time to absorb the fees on a feature that we don’t yet know how many people will use.
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I work in Finance. I’m all about cost optimisation! 
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I’m actually quite interested in why you guys need to pay in cash? I’ve personally never needed to except maybe when I was younger than 18 and not trusted with more than 50 quid at a time. What situations is everyone in where they need to pay it cash so frequently? Gambling? That’s the only one I can think of off the top of my head. Either way this feature has no effect on me, i’m just curious.
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I try to avoid cash as much as possible but I still accumulate cash from time to time for thing like the kids’ birthdays, Christmas, Diwali, selling old tech.
I’ve always found it way more convenient to gamble online!! Would never want to have to visit the bookies just to collect my winnings.
Imo the fee isn’t going to deter that many people considering the growth rate and amount of people going full monzo doesn’t appear to be slowing down even though they’ve never even offered the ability to pay in cash until now.
Surely offering it with a fee is better than no ability at all?
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That’s exactly the arguement that people had around top ups. If it costs monzo, don’t worry, I’ll pay for it, just give me the functionality- yet in this regard some people have a problem with it.
Everyone’s not going to agree on everything, no matter how reasonable it is.
For what it’s worth, I would gladly pay £1 to pay cash in, at a convenient location, than try to find a legacy branch to pay money in, then transfer to my monzo account. The point for me is, the service and fee are transparent- and monzo have been all down with this.
It seems unreasonable to me, that an online bank without branches should pay for me to deposit money in my account.
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I disagree. Whether £1 is alot or not depends on the size of the deposit. Anything under £100 and you’re taking a 1%+ hit. For infrequent deposits, this may not be so problematic I suppose.
Again I disagree. It seems rather unreasonable to me that a digital-only bank aiming to disrupt the high street banks - who provide free cash deposit services - should require me to pay for such a readily available service.
A property of good money (issued by our Central Bank) is that it is fungible. A unit of cash should be interchangeable with a unit of e-cash. High street banks up to now have ensured this is the case. This is the status quo; to add frictions via transaction costs wouldn’t do challenger banks any favours in my opinion, but I do recognise society’s relationship with money is changing.
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Are you disagreeing with the fact I don’t find it unreasonable? That’s weird, because it’s a fact.
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Very different from the card top ups… it was a luxury and not something that any other bank does. Paying cash into your bank accounts is one of the core functionalities of a bank since banking has begun.
Will this deter new customers? Id argue some yes but not all. Personally being from a smaller town in Northern Ireland id say most of if not all of the people I know would laugh at the idea of being charged for this. But those on higher incomes and from a less rural background may be of the opinion… ahh £1 wont hurt and sure im helping monzo be profitable.
Are we paying a fee for convenience of cash deposits as opposed to whats offered by other banks at the minute? No we arent so why pay for a service thats offered by all other banks… FOR FREE
To be charged a fee (no matter how small) for something that every single other bank has offered and not charged for decades is just beyond ridiculous.
While this wont make me stop using monzo… this will stop me from going #fullmonzo as ill always use my other account for cash deposits. I shouldnt have to but thats just the way itll be for now i suppose
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In that case would it be reasonable for a retail bank to charge you to bank online?
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That’s not a particular fair argument. The infrastructure for an online component to a business costs far less than the infrastructure for a retail component.
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I’m disagreeing with your viewpoint. Sure it’s your truth, but it’s not mine. The fact that you put “to me” in there doesn’t negate public conversation/comment. Oh and here’s a for good measure