Controlling when my Overdraft kicks in!

Hello! I’d love to be able have an overdraft but only for specific situations. I juggle a couple banks at once - not all my money lives in Monzo at once - although many of my direct debits/everyday transactions go through Monzo. This means I go close to zero quite often, but I like that Monzo will decline a transaction when I go too low, especially for recurring payments. It would be great if I could control my overdraft so that it is only used for active transactions that I make, not offline transactions (like TFL charges) or direct debits. Is this silly, or does it make sense? :smile:

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Edited because I seem to have forgotten how to read today.

Because tfl is a payment you’ve authorised so has to be honoured

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Monzo will debit a TfL payment when your balance is close to zero regardless of whether you have an overdraft arranged on your account, or not.

That’s because TfL is set up in this way, and you have already used the service. You don’t get to travel all day and then expect Monzo not to pay TfL the next morning.


Oh I didn’t know! So it’s already possible to go into negative balance?


Direct debits and automatic payments are much more of a priority (or should be) than purchases that you have a choice to make or not.

If you’re close to £0 then don’t spend, but the overdraft is there to help you with things that you have little to no control over.

I’m a tiny bit unsure on this one. Perhaps I’m reading it wrong.


I see! Makes sense… maybe my scenario isn’t something that will apply to many people. :laughing:

Just you I think :grin:

If you allowed the direct debits to be unpaid all that’ll happen is huge charges from the company who were due payment (£30 for some) and notes on your credit report.

I can’t see how anyone would want that