I do think a one page PDF which explains how to deposit the cash would be useful - a bit like the “Monzo is a real bank” one that was created as part of the merchant acceptance push during The Big List.
Source for amount of cash in circulation increasing:
https://www.bankofengland.co.uk/knowledgebank/will-cash-die-out
Just because new mintage of some coins doesn’t happen doesn’t mean all that much.
I mentioned a cash transactions decline, you’ve replied to the wrong person 
It’s not a money decision. It’s a decision on priorities.
Right now my team are focused on getting changes required for PSD2’s Strong Customer Authentication out (including 3D Secure v2).
We build safety and compliance things before new features. 
It requires a second application on the card alongside the Debit Mastercard one. It’s a bit of work to certify and roll it out but something we’re comfortable doing.
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B account from Clydesdale bank - free, no ‘qualifying amount’, app has cheque imaging for deposits. Branches for cash (Virgin Money branches too I think).
I can’t help but feel that when the contract with PayPoint comes to an end there will be a blog post saying they are not renewing it because ‘almost nobody used it’. Much like the statistic that ‘almost nobody pays in checks’ from an infamous blog post six(?) months back.
Make things easy to use and people will use the features. At the moment it feels like things are deliberately awkward so that people don’t use them, and if that is a business decision, it is totally fine. People have been saying ever since that cash deposits were introduced that you should produce a guide for retailers because few of them know what to do - but that never happened. Maybe you just don’t care about people wanting to pay in cash. But just be upfront about it. Instead of pandering to people who need to pay cash in, maybe you should just have said no, we are not going to do that instead of implementing the awful solution you have now. Saying no is fine.
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I doubt a blog would say that based on Simon’s reply
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There is already demand - but people use their legacy bank instead. Nobody said new demand would be created.
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I understand the £1 charge is to reduce abuse. Maybe deposits could be free if they were large enough?
For example if someone had £45 cash reasonably they could spend that, but if they had £500 maybe they would be able to pay that in.
There are still marginalised groups that are paid cash for their work.
Which presumably is a position Monzo are happy with as they aren’t (rightly so IMO) focusing on making things easier for the number of users who still have a legacy bank for cash/cheque. So why should they make it ‘easier’ as right now, the business model works just fine for most people and, most importantly, Monzo?
I’m not sure why you are trying to argue against what I said, when I clearly said that the current solution is totally fine, and that there is nothing wrong with saying no. You are being deliberately antagonistic.
Never mind. I’m just talking ‘tosh’ (and apologies for such a horrible offensive word there, I will wash my mouth out with soap. Probably (not)).
I don’t think the charge is to reduce abuse. It’s just that it costs Monzo about £1 for each transaction, so they just pass that on to the customer as it is not a key feature for them but one people have asked to be able to do.
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This is correct. It’s a service that costs us money. We don’t make any money from it. We’re just passing the cost on.
Legacy banks pass on the huge costs of their IT systems and running branches to customers, too. Just in more surreptitious ways - fees for international usage, fees for international payments (Santander once charged me £15 or £20 to make a single international payment), fees for bounced Direct Debits, fees for paper statements, fees for online transactions (yes, some banks do this!), fees for each individual transaction that went through whilst in in unarranged overdraft, plus a fee for being in the unarranged overdraft in the first place.
Does the ability to pay in cash at a branch that you likely have to travel to, balance out all of the above? That’s for you to decide.
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In Scotland for school fees not boarding school fees they use a system called parent pay, no idea if rollout across the country though, you can top up by card to pay for the kids meals, milk & trips
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In my children schools they also use parent pay for everything school related. Trips, meals, events etc. I’ve not use a cheque book in decades.
You can relax a little about this… the deadline to implement SCA has been pushed back to 2021
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The work’s still gotta be done. Maybe better to implement by September anyway, then move on to other stuff afterwards?
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Could depend on how much ‘friction’ it creates for customers transactions vs other banks who don’t implement it until they need too…
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You do make money on the deposits, you don’t pass this on. You’re charged interbank fees when customers spend on their card, withdraw from ATMs or even speak to CS. You don’t pass these on either. It’s just the cost of doing business.
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