Does Monzo offer a joint account?

Come to think of it, I wonder if we could have separate Monzo cards.
Both pulling from our joint account.
Put a fixed amount in the joint account each month.
Set our own targets.
There would still be a joint ‘limit’ but enforced by the amount in the joint account to add to Monzo from.
And we would have a view of our individual spending that would be easier to compare.


That sounds good to me. But there are some potential challenges there for freezing the cards, reconciling transfers into the account, closing the account etc.

Here’s my best guess (which could be completely wrong, of course) on how the feature will work:

Each user will have their own account & card.

They’ll be able to link their accounts & create a shared Target / Pot.

Whenever the user’s make transactions, those transactions are synced into both user’s apps in a dedicated feed for the Target / Pot & deducted from the Target / Pot’s shared balance.

That way, users will still have independent control over their Targets, any integrations & can receive credits separately.

Monzo would also be able to utilise this functionality for similar common use cases, such as flat mates sharing the cost of bills or travellers sharing the cost of a holiday..

But you still get all of the benefits of a joint account (aside from the legal status)..unless I’ve overlooked any. I’d be interested to hear whether that would work for you?


I was wondering if I’d ever posted this. I did. Reason 2 isn’t addressed by shared pots, so even if reason 1 is discounted it’s still a potential issue.

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Unless Monzo is flexible enough to enable you to deposit a cheque that’s made out to two people. Presumably they’d have to be, if they won’t offer conventional joint accounts.

For reason 1, Sam’s acknowledged the need for joint access for -

Noted. Of course, thinking about it, the flexibility to accept joint payments is in the bank’s control so that may work out. On the other topic, I don’t know whether the ‘Partnership or Equals’ is a legal definition so, while I understand the concept, I’m not informed enough to be sure it does what I want of it.

Time will tell so I’m relatively relaxed for the beta period.

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Here’s Tom’s latest comment on how the joint accounts will (probably) work -


What about when your buying birthday presents for your wife, a single account with two people accessing them the other will find out what your buying or how much coffee I buy!

Ok but how is that different from using a joint account to purchase the presents?

Joint account is for household purposes, mortgage, council tax, kids, food etc… plus the added benefits of insurance, phone cover and breakdown as it’s much cheaper for us to pay £10-15 a month for all three insurances rather than closer to £30.

The sole accounts are separate and this is personal transactions.

To be fair, that’s your model of how joint accounts are to be used, it certainly isn’t everyone’s.


That’s the idea with the pots feature. You will have some pots that only you can access, and some that are shared with one or more other people. Presumably/hopefully, you will be able to assign payments (e.g. direct debits) to come from specific pots.


From my understanding of the pots model you should be able to have more than one. And those pots can be shared but don’t have to be. And should also provide the flexibility of sharing different pots with different or multiple users. In many ways it does feel like joint account 2.0

What I’m not sure about is where the actual pots sits. Will all users equally own the pot or is it owned by the user setting it up? Where would you put a joint payment like a joint mortgage or loan. You this be in a equally owned shared pot or a single users pot shared with the user the item is jointly owned with?

I think what @jtame said s a really common use for joint accounts.

At the beginning of each month my wife and I each have some money transfer via standing order to our joint. We have the mortgage, insurances, Netflix etc come out of there.
Legally that money belongs to both of us, I wonder how that will work with a joint pot?

I think shared pots means each person has their own Monzo account but they both contribute to it. So buying personal presents would be in your own account and your partner wouldn’t be able to see it, unless you spend from that pot specifically. And given how you described it- expenses, bills, groceries- I doubt you would use part of their money to purchase a present for them.


Quite a bold statement to make. Do you have any metrics to back this up? Just a quick poll around my office, shows this to be in common use.

I agree with this too. I suspect most of Monzo users are not the typical use case in the early stages, if anything more are most likely edge cases.

The legal benefits of joint accounts are of paramount importance to me. For instance, if all my money was in a sole account in my name, and I died tomorrow, my wife would have the hassle of going through probate to get access to that money, which would leave her and my children in financial hardship, during what is a long and drawn out process.

Making sweeping statements like in the original quote I highlighted are unfair and misleading. You can’t make an assumption about the needs of a banks customers, especially where you don’t have access to any real metrics on the subject.


Spot on here!

Monzo is going to be my personal CA and FirstDirect will be the Joint CA
Lloyds Avios for larger spends to get free flights.

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Please bear with me, I haven’t had time to pull a proper reply together but I’ll explain my comment (with figures) :soon:

I look forward to it.