I’ve just created Monzo account and waiting for my card to arrive. I’ve heard an opinion that states that MasterCard only has credit card, but does not offer debit ones. How far is this statement from truth?
Also, I’ve been wondering if the card that will be given to me by default is credit or debit?
I don’t remember any questions or words about type of my card during the registration.
And last: is it possible to change personal information in the app once i receive my card, in case if i’ve put some wrong details (more specifically - tax residence). I’m not sure if i entered it correctly, so i’d like to look at all the information that Monzo have about me.
Monzo is a current account so you get a debit card, so that weird theory you heard isn’t true
You can change the details in app for tax residence etc
It will be a MasterCard Debit. MasterCard has done Debit cards for decades.
If you remember Switch/Solo, that became Maestro (another MasterCard division) which indirectly became MasterCard Debit at least in the UK (I am aware Maestro still exists in other countries).
Is that real debit card, or there is some hidden underwater rocks? Will this Monzo debit card lead me to a debt, or a situation in which i will owe the bank some money in future or even present?
100%, no questions, debit card.
Um, what?
If you decided to sign up for an overdraft then yes you could have debt. If you do offline transactions with no money in your account then you’ll end up owing the bank money
do i sign up for an overdraft in the app itself, or is it given to me by default when i create my account?
You need to accept if they offer you one. It’ll be based on income and credit report etc. They’re pretty conservative with lending so not everyone is offered one
thank you for you response
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and thank you too
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