ID like to deposit £30,000 How safe is this money?
Many Thanks
Deposit in cash or just transfer the funds?
Monzo have FSCS protection up to £85000 like any other bank but they have fairly low limits on cash you can pay in via PayPoint
Once the money is in the account, you’re covered by the FSCS Protection up to £85,000, so it’s safe.
But are a little trigger happy when it comes to locking your funds whilst they investigate further.
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Very safe.
Just be aware if you’re wanting to take it out in chunks of over £10,000, you have to jump through some verification hoops.
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Any evidence of this?
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This isn’t correct,
The only thing they may do is review the account (depending where the funds come from) as it would seem unusual to have such a large transaction come in compared to previous history. This is normal for any bank to check.
If this was coming from work or other certain financial entities then it should be fine.
I’d not be concerned provided you can verify if asked.