Cash Deposits

There is no longer a post office near me, would still be the same. Although I work next to a post office!

On side of that, post office and bank still close a lot earlier than the places I’m guessing Monzo Cash deposits to be going via, so if you work shifts or have commitments 9 to 5, you’ll have a bit of choice “after hours” so to speak.

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That’s fair enough - I think it’ll come down to individual circumstance. At the moment, there’s not enough of a convenience factor for me, though with continual bank branch and Post Office closures I expect that to change in the short-medium term.

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Oh yes 100%, I respect their decision and I know they haven’t taken it lightly.

Another great point but one that should be taken in context… the forum is more likely to be pro monzo in nature, but the response on this thread shall we say has been mixed.

No I dont, but the day that Monzo’s backbone is transparency and what makes them different to date is how engaged they are on a daily basis with their customer base. Honestly thats why im with them, once that goes out the window and they prioritise profitability over what the customer wants too heavily I will happily take my business elsewhere

Sorry, I think im just of the believe that once a fee is there especially for a company thats not yet profitable there will be no push to remove this “accepted” form of income for no real reason? Im sceptical to say the least

I think its worth me restating my own position on this because I feel like possibly alot of other users on the thread are getting fed up with my name being a frequent poster and possibly trying to force my viewpoint on others.

I use cash deposits very rarely nowadays. Maybe once/twice a year at most unless a weird situation where I sell a car or something comes up. I will continue to use my legacy bank for cash deposits after this feature is launched because to me every penny counts coming from the background I have.

I love Monzo and love what it is trying to do, I have been constantly telling friends and family about how great Monzo is and how they should all be using “the bank of the future”

I feel like I have been maybe too passionate in being against these fees because I see this feature itself being the first stumbling block and reason why I cant now bring my family into the Monzo dream. Without getting too personal I come from a one parent family in a poorer part of N.I and see some of my family struggle from paycheck to paycheck and some living on benefits, who constantly lend eachother cash and sell things from time to time when quick cash is needed.

I want Monzo to work for people in similar situations and not just cater for the richer few in the cities of the U.K.

Said my piece and now going to remove myself from the thread and future discussion on the matter, apologies to those who may have mistaken my passion for ignorance or rudeness and look forward to some debates on other threads with you all :slight_smile:

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Transparency is purely related to providing information on what’s going on, it’s surely not about garnering consensus decisions from the engaged customer base before acting.

I agree that this debate is probably done. Monzo now get to stand or fall on the back of their decision.

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The case of charging is always an issue is what you charge and what for that matters the most and not have anything hidden like the banks you expect to pay by card without a fee anywhere in the world that’s usually penalising with Santander one of the costly for spending abroad and then deposits and withdrawals would it work just being a quarterly fee with benefits to come with that and not Penalise on people who use it more I don’t know what will be best as there will be people against anything you do

What are the chances of removing the fee if I’m overdrawn and have cash to deposit to try and get not overdrawn? That seems like it would be a decent thing to do!

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I literally can’t read with no punctuation! You might want to consider full stops…

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:rofl: I said the same about his earlier comment too.

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This always seems to be an obsession of some Starling fans, but I don’t think Monzo see Starling as their biggest competitor (or are particularly concerned about them at all). Their biggest competitors by far are the legacy banks and inertia – just getting people to give a new bank a try. And all of them offer free cash deposits, so the only thing that’s changed is that Monzo now offer this feature (for a fee) when previously it was impossible.

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Keep in mind that a number of the frequent negative posters primarily use Starling (by their own admission). Not to say their views are invalid, but we don’t have a representative sample of Monzo’s userbase posting here.

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A post was split to a new topic: Removed Posts 13/11/18

Not really. Lacking in factual content and is purely emotional bias wrapped up in a well rehearsed style.

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Alright folks, we’ve come to a team decision to close this thread for now. Perhaps we can revisit after the feature actually launches, but at this point, it doesn’t seem like there’s anything being said that hasn’t been said repeatedly earlier in the thread.

I’d just like to thank all of our users - no matter which side of the fence - who provided us with clear, specific, feedback on this subject and who expressed their views in a calm, civil manner. We don’t always have to agree, but it’s important that when we disagree, we can do so in rational and reasonable ways without lowering the tone. I’d also like to thank the Coral Crew - when a thread is as active and passionate as this one has been, it is a lot of work to look after. They put in their own time to help us keep this community the wonderful place that it is, and that’s not an easy thing to do.

For anyone coming into this thread now, it might be helpful to highlight two posts. One from @nickrw who is an engineer on this feature, and another from our CEO @tom - I think reading those will help sum up and clarify what’s happening here, and the questions that have been asked.

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Cash deposits are now live!

Please keep giving us your feedback in the new thread:

Thanks :slight_smile:

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