Well Starling have the better approach with regards to customer costs. However, less convenient venues so it’s a tricky one.
As I’ve said before. Doubt I’ll use this feature with either back. Good to see different approaches though.
Looking at it I complained to legacy banks in past got no where with monzo I complained cause I wanted something fixed and they paid me for inconvienience it was for me and the service was behind their normal but with monzo they realise I matter and they solved my issues with a better response than any off the big legacy banks will ever good on them monzo not putting money before people is a bonus
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Though I argue cash deposits must be cheap enough for customers so they don’t loose out
Limits are the worst… I use Nationwide ATM machine if I need to deposit at least £1000.
So I need to pay £4 to pay in £1000 to my Monzo account?
£300 limit per transaction?
£300 - £1 fee
£300 - £1 fee
£300 - £1 fee
£100 - £1 fee?
And no more deposits allowed for 180 days…
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As I said I disagree with the deposit agreement with PayPoint. One massive and huge plus over Starling they offer accounts to everyone as long as you meet the terms.
Please Monzo consider PO arrangements ASAP.
Does anybody know anyone who has been declined for opening a Monzo account.
I have tried Starling a few time but declined. IMO very strict account opening process.
Sorry for going off topic
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Starling have refused me whilst monzo accept me whilst many legacy banks don’t accept me I’m happy I hold what I have with virgin money I have two accounts one from the days of northern rock and monzo then I have permanent tsb in Ireland but then UK credit score isn’t used for Ireland so I get more there but it’s not a right to get a current account you can be refused by everyone and be locked out from them forever no law says you must have one and providers must give you one
Please, please, start using sentences and full stops. I am interested in what you have to say, but tune out by the end of the second line when there is zero punctuation to know what is going on.
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In your opinion… Let’s make that clear.
Ha! That’s my usual line 
Agreed, but I challenge you to find a high street bank that doesn’t offer free cash deposits! (Actually, there might be some since I’ve never looked)
For me it would be a very occasional use facility. But I very much object to charges for this, which is in all honesty, a very every day basic function of a bank. How can Monzo justify charges for an everyday function? Sorry, in my view, they can’t.
Additionally, if they thought it would incur a charge, why not ask the community what charging model to use? This method was used when deciding on foreign transaction fees but not for this. Many switch in good faith - but then they do this. Not cool.
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Tee hee … debates of forums are full of views dressed as fact 
They pretty much all do. And Starling does. Hence the annoyance at the catch-all approach here. There must be a better alternative.
This.
And I think the £1 fee is taking advantage of that.
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Starling are covering the cost by charging business customers to use the facility. Monzo don’t have that option
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Maybe. But I’d be interested to know how much Monzo makes out of me as a customer, then if I deposit say a few hundred quid a few times a year how much that knocks off their profit. I suspect they’d still be in the black from me …
Better approach surely to not charge but charge those that overuse the facility?
Just a thought.
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I guess I see it differently in that this isn’t even something Monzo has to do.
They could just say ‘No’ but they’re trying for a middle path instead which is fair enough in one respect. We don’t have to use it, we don’t have to approve of it and we’re no worse off than we were yesterday.
Edit: To the later post, aren’t we all profitable to the tune of £3 a year or something now?
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Make cash deposits fair cheap and as easy as possible like post office and paypoint and maybe payzone as another option but payzone isn’t as popular but you shouldn’t restrict what you can do and charge high for the privilage
If you have some time take a look at this:
In there is a slide showing average revenue and costs per customer. If we’re lucky, someone will be along with a graphic pulling those stats out specifically… 
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That’s what’s on offer here isn’t it? From all we’ve been told they’re using one of those places and passing on the costs. The charges aren’t high, they’re just high enough not to make a loss on the deposit. I think I’m missing your point?
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Cash deposits should be cheep enough so that they don’t penalise customers by loosing them money and make sure customers can pay money in without reduculous limits that limit the use of cash deposits
OK. That’s a different point to the one you made above which I was responding to.
OK, I was wrong. It’s £1.70 per year profit per account it seems. Two cash deposits each wipes that out!
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