Connected Accounts

I’ve had to get a Joint account with my partner with a high street bank as Monzo won’t give us one so I’m investigating the connected accounts functionality.

My first feedback would be that it’s actually really hard to see in the Monzo app what you get with connected accounts.

The animation moves really fast so it’s hard to see what you can actually do. So I have some questions for people who already pay for it.

Are connected accounts like pots? I’d like to be able to easily add and withdraw money like with a pot but the line “move money around with easy bank transfers” doesn’t sound like it’s definitely the same UI as pots?

If I move money to another account how is registered in trends or whatever the current insight functionality is? Do we get double counted with the money moving to the other account being classed as “finance” and then the spending from the other account being counted too?

Can I move money to the other account from the salary sorter?

It’s a bit frustrating that’s it hard to see how it will all work when it’s the only part of Plus that I actually care about. It’s a shame you can’t just try out the software features without ordering the card to see if it actually works for you. £15 of minimum term to get this clarified is the cost for people who don’t use the community.

‘Almost’ is the answer. Pots have more functionailty (image selection, renaming, ‘Manage’ tab) but the core functionality of a connected current account is the same (you can’t move money between Monzo & credit cards - and I’ve noticed you can’t move to/from connected Revolut UK/Euro accounts - so maybe only UK banks participating with open/connected banking)
Moving money is easy. Select the connected account, tap on ‘Move money’ and select where from, where to and how much. It works well.

By default, the category ‘Transfers’ is used, and reported as such in Trends, in the ‘Excluded from spending’ section - because you haven’t spent it, you’ve only moved it. This is the correct way to do it - moving money between a connected account and a Monzo account doesn’t make you lose or gain - your net worth is the same. But you can customise the category on the transaction on either end to suit how you best deal with your finances.

No, £100+ income can be sorted from Monzo Personal → pots (and from pots to pots) or from Monzo Personal → Monzo Joint (and vice-versa) Connected accounts are excluded from sorting to/from.


This is really helpful, thanks so much.
I suppose rather than using salary sorter I can use a standing order and the transfer will be excluded from trends/spending


Odd - as you can the other way…

Just to document it it turns out I can’t put money into my other accounts using the “Move Money” I’ll have to use the Payments UI which as we know needs some work…

I can withdraw from my Lloyds account but can’t put money into it or my Santander savings account.

Pretty disappointed to be honest, I wanted to be able to move my money around quickly and Plus doesn’t help me do that anymore than the free Monzo.

If the offering is different per other bank Monzo should specify what is possible with each bank.

Now I get to wait the 3 month minimum term before I cancel it.

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Hi @Throwingspoon :wave:

What specifically are you having trouble with sorry, I’m a little confused.

You can only add money into Monzo from a connected account. Not add money to that account.

(For Lloyds at least)

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I was expecting to be able to add to and withdraw from my connected accounts really easily.

Even if the banking APIs offered by the other providers don’t give deposit interaction Monzo knows the Account Number and Sort code and could worst case create a payee and deposit the old fashioned way but there isn’t even that.

For the 3 accounts I connected I can only move money from my Lloyds Joint account and I never withdraw from that account I only send to it as it’s for bills.

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This is an obvious feature improvement they could add.

Effectively, Easy Bank Transfer (into Monzo) but in reverse, auto-creating a new payee for moving money out of Monzo and into your other account, using the bank details provided through the Open Banking account information sharing API.

I agree that it would make Monzo Plus and Premium much more useful as well.

I tried this once and found it much quicker and easier to just go to the other bank app, send the money, and go back to Monzo to put it where it need be.

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