Easy Bank Transfer Now Limits Transfer Values - Does not include available Overdraft amounts

UK Help Bug Reports
1

**Issue: Easy Bank Transfers now limit the amount you can attempt to withdraw based on the balance of the source bank account. This NEW functionality is great, but it does not take into account available overdraft in the amount available to transfer.

Hence if my First Direct account has a balance of £2 and an available (interest free) overdraft of £250, Monzo now limits me to transferring no more than £2, saying that “The balance is too low”.

If I wish to transfer more than £2 I now have to go to the First Direct app and send it from there, thus converting what would be an easy bank transfers into a difficult bank transfer.**

Details to reproduce:
OS: Android
Device: Nothing Phone 3
App Version: 6.44.0

Screenshots:

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image1260×2800 169 KB

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I would assume this is due to some sort of security/regulatory thing where Monzo are not allowed to make you go into any overdraft as they won’t know what fees you may be given by the sending bank.

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3

Personally I think it’s more likely that Monzo have introduced a well intentioned improvement, but have botched it by not considering all cases.

If there is regulation, I’d love to see it as spending my own overdraft really shouldn’t be controlled by a 3rd party bank…

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