Such a short-sighted and stupid change to make. I think Monzo seriously underestimates how much customers value this benefit.
Excluding all those smaller transactions under £100 from the three-month interest-free option genuinely makes me consider leaving.
For me, this was by far one of Monzo’s most useful and uniquely customer-focused benefits. A lot of the other “benefits” feel like window dressing by comparison. This was something genuinely practical that made a real difference to how I managed my spending.
It was honestly one of the best reasons for banking with Monzo — and now you’ve taken it away.
The point many people (including myself) are trying to make is that it is actually not helpful to people, as it quickly reaches the point where you are paying into your Flex card as much as your monthly spend is anyway.
If your monthly spend is, say, £600, you spend this on month 1 and flex-in-3, then you have to pay £200 on month 2, £200 on month 3 and £200 on month 4.
Then month 2 comes, you spend another £600. Now you have to pay £200 on month 2, £400 on month 3, £400 on month 4 and £200 on month 5.
Month 3 comes, another £600 spend. Now you have to pay £400 on month 3, £600 on month 4, £400 on month 5, and £200 on month 6.
Month 4 comes, another £600 spend. Now you have to pay £600 on month 4, £600 on month 5, £400 on month 6 and £200 on month 7.
Month 5 comes, another £600 spend. Now you have to pay £600 on month 5, £600 on month 6 and £400 on month 7.
And so, you have now reached the point where Flex is completely pointless as you could either be just spending the same money directly from your debit card or use any other credit card to achieve the same end.
It also encourages people to spend over their means, as at that point Flex is full of you actual monthly spending budget, so anything more you put on it will by default be something you can’t actually afford. Flexing, say, a larger payment like a new home appliance will then take your payments beyond what you can afford monthly.