Going Full Monzo

So I’ve been slowly moving payments over to Monzo. I’m really thinking about doing a full switch but find the stories of account freezes very concerning and that makes me worried.

For those that have done the switch, has it all gone without a hitch?

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Yep, no problems

Monzo has been my only account since last summer


Likewise, Monzo has been my main account for two years now. No problems. In fact it’s added much more visibility and control to my money. :muscle:


I’ve got both a personal and business account. Not had a single problem. If you read deeper into these account freezing stories, they were doing things like cryptocurrency trading or other things which would cause all banks to freeze an account. Monzo isn’t doing anything unusual.


If you’re using your account legitimately, you’ll be fine. All banks shut accounts down etc due to legal reasons.

I’ve been full Monzo for a very long time with no problems, the only reason I have a 2nd account is for paying in cheques in :slight_smile:

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Switching isn’t a problem, you’re protected by the Current Account Switch Guarantee, so even in the unlikely event you have any problems with the switch, you shouldn’t be left out of pocket.

Similarly, you shouldn’t worry about accounts being frozen, for all the reasons others have said.

Can I just ask, why are you wanting to use the switch service, given you’ve been moving payments over manually? Is it because you want to speed up the switching of payments instead of doing them manually? Or is it because everything has been moved over and you want to close the account?

If the latter, I’d suggest there’s no harm in keeping it open, just in case. I’ve kept my legacy account open to make it easier for me to pay in cheques and cash (which I then transfer to Monzo). I don’t much use it otherwise. I’m living proof it’s possible to be Full Monzo while still keeping an old account open.

ETA: forgot to say that one of the biggest reasons I’ve kept my old account is so that I’ve still got at least one VISA card to go alongside all my Mastercards, in case there are any problems with the Mastercard network.


We have personal accounts (me and wife), a joint account and our business account with Monzo. We do still have a joint account with Smile only because the mortgage, utilities and car payments go out of that and it has an overdraft facility “just in case” (Monzo don’t do JA overdrafts). Not had a problem so far, and it’s really helped us budget better and save more.

Edit - as has also been pointed out it’s also useful to have cards on both Visa and Mastercard networks just in case of a card scheme outage.

I’ve moved some payments over manually myself but I have a number of different direct debits and standing orders, and it’s a bit time consuming contacting each different company and setting up the payees again. I was torn whether to keep the legacy account open as a backup or do a full switch to Monzo. I do really like the salary sorter and bill pots Monzo have introduced as it would help me to now budget far better.

I think that’s the difficult thing. The stories are concerning when you have a number of people claiming the same thing but I suppose you will only ever get one side of the story as Monzo legally can’t divulge any information which I guess is extremely frustrating for them at times too.


I’m with Monzo for 2 years - main account. Never had a problem.
2nd account - HSBC (cheque imaging, backup)

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I have a switch in progress.

All banks freeze and close accounts, just look on the moneysavingexpert forums and you’ll see countless, the difference here is that most banks don’t have a forum to vent on. I don’t think any of us know the real story behind those posts, but I find it unlikely that Monzo would do so without cause, of course nobody will admit to dodgy dealings (and what a bank deems dodgy and what a customer does varies)on a forum when they want their account back :slight_smile:


Switched to full Monzo in February this year with no problems at all. The only other account I have is Starling as I closed everything else down. I’ll have to be honest I was concerned that my wages wouldn’t go in, but they did and for the first time in my working life I can budget correctly as I know exactly what is going out and when (all paid from pots). Best switch I’ve ever made.


been using monzo over 2 years now no problems i do have a nationwide flexplus account for the insurance purposes because no other banks offer close to what they offering on package account

All you have to do is ask yourself…

Would a bank that “freezes loads of accounts unnecessarily” have constantly rising customer numbers.


See the figure on the Monzo homepage which is currently 4,116,438 and that doesn’t include business or joint accounts either :wink:

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I understand that. It’s just concerning when you see so many claiming the same thing, but obviously I know Monzo can’t divulge anything due to the law so you will only ever get one side. I have just watched the CEO’s interview on fintech insider and I do have to say I was extremely impressed and I really underestimated how fantastic Monzo and didn’t realise they have returned so much money to fraud victims and stopped a lot of criminal activity.

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I am full Monzo and have no regrets, I feel a lot of the stories you see are just because Monzo is ‘in vogue’ so newspapers like to print stories about them to get more clicks, even if the numbers aren’t a lot different to any other bank

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Been full Monzo since like Jan/Feb 2018. Best thing I have ever done with my banking. No issues at all. Would defiantly recommend it :blush:

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