Continue with pre-paid and current?


Not once a year, you get £200 free every month

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Important to stick to the facts.

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So, only one twelfth as bad as you first feared :wink:



Anyway I pay by card :slight_smile: and £200 in cash will be enough for me :slightly_smiling_face:



In over a year of using Monzo, I’ve only ever withdrawn €200 from an ATM in a single transaction. Once. POS is much easier for me.

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(Super-cali-fragi-listic-expiali-docious) #26

By the sounds of the topic and many others I keep seeing, yet another person who’s been using it as a travel card expecting someone else to pick up their probably huge cost in fees. The prepaid was simply a beta card while Monzo developed the current accounts.

I too, use POS for most purchases (except my barbers). £200 is more than enough for me (each month) while abroad.

(Correct me if I’m wrong)
Abroad Withdrawals : £200 (FeeFree Per Month) then 3% (Still less than regular banks)
UK Withdrawals : FEE FREE

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I joined Monzo because I wanted a pre-paid card. I don’t need a current account, I already have one with another bank. Please don’t take my pre-paid card away.


(Super-cali-fragi-listic-expiali-docious) #28

Sorry to bust your bubble, but Monzo is a bank, not a prepaid card. I’m sure that was stated somewhere upon registering.

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(not an acolyte) #29

I will continue to use my Monzo current account card in the same manner, ie it won’t be my main account but will have a certain amount topped up and used like the prepaid card. For me it won’t make any difference - certainly not in the foreseeable future.

And I agree with the posts saying it’s a bank card not a travel card - the latter being a great benefit but not it’s sole purpose



The advantage of a prepaid card as I see it is, if you try to spend more than you have topped up, it just refuses the transaction, without causing an overdraft or any unpaid transaction charges.
It acts more like a wallet with a certain amount of cash in it, and once it’s spent, it’s gone.


(Tristan Thomas) #31

You’ll be able to use the current account in exactly the same way if you like :slight_smile: We never charge unpaid transaction fees, you only get an overdraft if you specifically opt in and you can add money to it as and when you need it. It’s basically the prepaid card + more features!



OK, that’s good to hear. I haven’t been following the announcements, and when I heard “current account” I just assumed that would mean charges for stepping overdrawn a little bit due to miscalculating what was available.


(MikeF) #33

Never assume…

…and it’s a bit harsh to make judgements based on assumptions anyway.

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( related to Monzo CEO, Investor in Monzo ) #34

there certainly seems to be a lack of understanding coming through about the current account offerings being compared to legacy banks current account, where you will be charged fees as soon as you go into an unauthorised overdraft ( which you won’t be able to without choosing to anyway ) - people just don’t seem to be reading details concerning the current accounts and are assuming there will be fees that having a pre paid card avoid

  • how do you explain these to people that you offer the current account to that don’t want to read the T and Cs and only see half the first page of anything ?
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(Tristan Thomas) #35

Totally. We’ll be doing it in a really nice, graduated way so that you can get as much or as little info as you need :slight_smile: And it’ll be v clear it’s free, easy, continue using like now etc.


(Natalie Cartmell) #36

Hi, I was hoping to use my pre-paid card when I go to NY for 5 days the end of November. Sorry if this is posted elsewhere, but will my pre-paid card still be valid, and if so what withdrawal limits and charges will apply before 18th Dec?


(Hugh) #37

Please could you make this really clear - it’s the most common reason I’ve seen for people saying they don’t want accounts. They just assume they’ll automatically get an overdraft and be charged extortionate fees - it would probably be good to dispel this myth in the current account notification prepaid users will be getting…


(Hugh) #38

Yup :slight_smile: Just don’t upgrade to a current account before then - you’ll need to upgrade towards the end of the year however.

There will be no charges on prepaid for withdrawals and you can check the limits in app :slight_smile: (go to settings and then there is a section for spending/top up limits)

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Then Monzo is not the right product for you.

The prepaid card will close soon and you can say goodbye.


(Ian Lyon) #41

You’ll be able to continue using the current account in exactly the same way as you currently use the prepaid card - you’ll just get the additional benefits of being able to use Faster Payments, Direct Debits/Standing Orders, FSCS protection and your debit card will likely be accepted in more places than the prepaid card would :slightly_smiling_face: