Is it ok to have one for daily spending and another for direct debits ? I like to only use my Monzo in store and paypal.
Then my Barclays for direct debits to NowTV etc
Perfectly fine. They are there to use as you wish.
Although Monzo would love you to move those Direct Debits over 
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Itās for my own reassurance really, i donāt like entering the details of my Main account anywhere on the web
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Thatās fair enough. If you ever wanted to relocate them to Monzo you can just use a particle switch on the Current Account Switch Service.
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Banked entirely with Nationwide until Monzo came along. Tried switching to Barclays but absolute fiasco. Immediately switched back to Nationwide. Now use Monzo for sole spending and Iāve just got a joint Monzo account, although weāre still using Nationwide for the most part for that. Will slowly switch over.
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I do love a cheeky particle switch!
But in answer to the opās question, you can have as many or as few as you like.
Do what you feel comfortable with, and what you find easy to manage.
If thatās 4 accounts for different purposes, then great!
Lately, Iāve had 4 active accounts on the go.
Iāve now moved most over to the Monzo joint, and will hopefully use that exclusively moving forward.
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Why exactly?
I can think think of a couple potential reasons - I suppose youāre more likely to stick with Monzo long term if youāve moved direct debits over, and i suppose it gives Monzo more data on your spending which could benefit marketplace strategy/promotions.
But are there other ways in which Monzo benefits from us moving our DDs over?
In the Q A tonight Tom advised that having everything through monzo works towards the bigger picture, to help make spending tools even more intuitive in recommending, plan savings and even seemless market place if you opt in, to help make money matter without needing much input from users manually completing tasks.
Thatās the gist of what I took from what he answered.
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I have Monzo & Barclays. Iām basically #FullMonzo, but I get paid from a second job in cash and sometimes I need to pay this in to cover a bill so I pay it into Barclays and transfer it across to Monzo. I also like that the Barclays debit is a Visa, so if Mastercard is down I can transfer the money back to Barclays and use that debit card.
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At this moment I only have my Monzo account, but Iām opening a Bank of Scotland account as soon as I can be bothered going into the branch. Iāve found out that I have just enough occasions on which I need to deposit cash for it to be worth it, for now.
No particular reason for BoS, apart from they have a branch in my town.
Youāve basically answered it yourself from what I can see. It gives them the data to help make your money work for you.
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I suppose I was wondering if there was another benefit because traditional banks often go out of their way to attract direct debit spending (by offering cashback on direct debits) yet as far as Iām aware they donāt really monetise data in the way Monzo are planning.
As far as Iām aware and I think it was answered a few weeks ago direct debits actually cost monzo a tiny tiny bit of money to process.
The larger banks simply do this to try and lock you in, they also lose money on that product but may make it up elsewhere on your savings account for example.
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High street banks want you to take other products with them and pay their fees when something bounces
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I have monzo and two virgin money current accounts all with free debit card transactions outside the UK and only monzo offer Ā£200 free overseas atm withdrawals what would benefit me is cash deposits with monzo meaning the other accounts will be less relevant to me.
When im in the eurozone I will use my Irish accounts from Republic of Ireland I have three current accounts with Permanent TSB one current account with KBC Bank Ireland and one current account and one business account with AIB bank which gives me options but I seem to get a lot in Republic of Ireland from certain banks and nothing from others and seem to have more in Ireland than in the UK where Iāve had major issues with the banks freezing me out of banking services and Iām very lucky to get what I have
Bank overseas and you pay fees as standard take bank of Ireland and AIB bank in Republic of Ireland they charge quarterly fee and charge to pay in charge to take out charge to move money charge for every transaction including charging for debit card payments
The fees in the Irish Republic are horrendous unless you maintain a balance of around ā¬2,000 (depending on institution). Round the border areas they use a relatives address and use a Northern Irish bank
Do Northern Irish banks provide euro accounts?
For business they do. Some larger employers are on both sides of the border so that makes it easy or just pay in euro cheque
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Some do for business customers but many UK banks have international departments for setting up a euro or US$ account but many ask for large deposits but you can open at the moment accounts in Republic of Ireland for non Irish residents living elsewhere in the EU including the UK
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