It may as well be, I believe I have four separate methods of paying in cheques at my ‘legacy’ bank.
Okay so you can either post it to Monzo - or (if you still have a Legacy account open) use their cheque imaging software and move funds over?
It isn’t a quantifiable gain - you can’t put a figure on it - there isn’t a viable way of pros vs cons the cost in development. People won’t flock in their millions to Monzo because of cheque imaging.
And yet if I ask Monzo if they can supply me with a loan for a mortgage - what will they say? They do the service you want, just not in the method you want.
It’ll probably involve me going into town at some point to NatWest, or sticking in the post to Monzo and 
Royal Mail don’t balls it up.
I’d rather just open the Monzo app, have the money appear instantly in my account, then rip the cheque up.
I’m just guessing sure, they have stats/research people who can work out that the cost in building and maintaining isn’t costing them and at least breaking even. I’m simply assuming they’ve given the go-ahead but didn’t have the dev capacity to throw at the project.
If Monzo did loans (or a third party they partner with) I’m sure people would jump at them, even when its cheaper/better going direct like the ISAs. I wouldn’t count it out that they don’t in the next couple years. I see cheque processing as part of the core banking, a mortgage is just a add-on service which I wouldn’t expect.
Of course and I can see a user use case - but it is just too small unfortunately.
What I mean to say is that the argument of “a legacy does it better” or the answer “use a legacy account” can apply to a lot of things - Monzo don’t cater for those wanting a student account or a mortgage. Monzo have said they want to get into the mortgage realm (although this wasn’t about lending the money specifically) but just because they don’t do it doesn’t make them a non-viable option.
Mortgages and “Retail Banking” are literally the bread and butter of the big banks.
So where do we go from here to avoid going in circles. You see it has a case but too small, and I think its has a larger use case 
And that is the problem unfortunately 
and the one Monzo had to make a difficult decision on!
The real answer is: 
Cheques aren’t going to phase out if people keep asking for them to be supported 
You can’t have it both ways!
Now where is my Monzo chequebook… 
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