Does the free midnight overdraft 'hurt' Monzo?

[Ordog]

Found it

Explained much better than my attempt too!

How would Monzo's UI react to having a balance of millions in an account? Just curious

It absolutely does. It all comes down to collateral, which is what @thomas was alluding to earlier. The following is not financial or banking advice, it is highly simplified to help you understand the kinds of things that banks do behind the scenes to move money quickly The big open secret is that when you transfer money, it isn’t physically moving. Your transfers are just messages saying “Move £10 from Account A at Bank A to Account B at Bank B". When it gets to the end of the day, all the …