Faster payment limit

[pafh]

Why would you use CHAPS when FPS supports up to £250k?

[Ordog]

@Revels

I won’t risk doing my house purchase with Monzo, I’ll move any funds around long before and won’t cause myself more stress. Many others are the same, so will you probably be next time you have to do this.

I think this has been said to death in the other topic so forgive me for repeating it

It’s not normal for the buyer to transfer money for their house purchase on the day of completion. This is handled by the conveyancers and you transfer your funds to them weeks prior. Monzo could take days to do this and you’d still be fine.

Not sure what this payment is in relation to (not that it matters because it needs improvement regardless), but I just wanted to clear that up because it has been mentioned a few times on here now

[pafh]

@Anarchist

@pafh

Never have I had a delay of 14+ hours and my messages completely ignored by your chat staff for so long.

There have been several threads started by people who have gone down the same path as you. It’s terribly poor service, but if I can offer a crumb of comfort, I’ve can’t recall any occasion when the process has been reported to have failed.

How long has this service level been the norm? That’s terribly sad to see for Monzo. I did a test limits raise about a week ago that was fine.

I got through to someone helpful on the phone but still nothing an hour after they personally took over the chat. It’s now 16:52 and I’m pretty pissed off.

[Revels]

@Ordog

It’s not normal for the buyer to transfer money for their house purchase on the day of completion. This is handled by the conveyancers and you transfer your funds to them weeks prior. Monzo could take days to do this and you’d still be fine.

I know, but it’s still stress for the sake of it. When I can do it with Lloyds and know there won’t be a problem at all.

@pafh

I did a test limits raise about a week ago that was fine.

They probably think something dodgy is going on. Raised the limits last week, did nothing with it and now are panicking about raising them again!

[Anarchist (Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)]

@pafh

How long has this service level been the norm?

For large value transfers? Forever, I think.

[bzc]

I received email notifications on this thread because I created it back in July 2019 but funnily enough because of this specific issue and the lack of response I am no longer using my Monzo account for a very long time now.

So to everyone with this problem I can only recommend going the same way I did and suggested to me in October 2019:

@anon28680395

Just use one of the many banks with decent sized limits. , Revolut, Santander, Natwest, Citi, Halifax, Coop.Starling, Lloyds, etc.

Farewell

[Ordog]

It’s certainly a good idea to explore other options if you have the need to frequently transfer over £10k.

[pafh]

Past 18:30 now (over 17 hours since first requested) and still not a single reply to chat messages since confirmed that the limit would be increased at 9am.

[robsug]

Dam that sucks, and it makes me worry for my future payments for my house purchase.
This is definitely something that could be updated. Why not a nice Monzo-esque form you fill in, provide a pic in app and then get a notification when it’s all done. Lovely and simple!