Halifax copying Monzo with the ability to freeze cards

I’ve noticed that Halifax are updating their online terms and conditions to allow the freezing of your card…

Vault PDF Document 2017-11-29 16-57-02

Barclays have done it too I think

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They have indeed; you can also separately freeze “remote purchases” - online stores, in-app purchases etc.

Metrobank offers it too

Barclays have had this for some time now along with View PIN and few other security settings.

(Sorry for the screenshot quality - Barclays think disabling app screenshot somehow makes account more secure)


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It’s hardly copying Monzo. I think Discover may have had it first, they’ve certainly had a web-based ‘freeze’ button for years.

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I stand corrected. Monzo was the first place I came across it. It seems that with Monzo having got quite a bit of positive publicity for it, others are starting to follow suit, and catchup with these features.

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I personally find this very annoying and my legacy bank does it too…

Often, if I’m sending someone some money I’d want to screenshot the transaction so they know it’s been sent etc. Don’t really see how it adds any security bar posting your account number/sort code online by accident…


If ideas are being so easily copied (by legacy and challenger banks), will customers not au fait with Monzo (mission/vision etc) not really see any benefits above what their current bank if offering them? Without the pre-paid card, what’s the gateway to trial to experience the difference?

Simply, why Monzo?

Do you think there is a higher barrier to entry with a Current Account compared to a prepaid card?

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Without doubt, especially when considering the use of CASS (if they are to use a CA to it’s full extent of course) is in decline! A lot of my mates who now have the CA entered Monzo via the prepaid card, loved the functionality and therefore gained confidence in Monzo as a bank. Without it, how can people get this confidence/reassurance, apart from ‘try it it’s great’ messaging or via WOM, especially seeing as Monzo users numbers are relatively small?

I suspect Monzo won’t push for people to use CASS like a lot of the legacy banks do kinda requiring the “main current account” terminology. This is something that I haven’t seen from Monzo yet, and hopefully won’t happen. Using it as a main current account is more of an option rather than a requirement.

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But that doesn’t make sense? If overdrafts are a source of income for Monzo, then primary CA usage is a given; and who has two CA these days? I haven’t since the days of being a student and rinsing the ODs as much as I could!

The concept of a marketplace is new, novel and alien to most people. Surely the focus should be on getting a normal (see tried and tested) banking model of revenue in place before introducing a new concept?

I have 3. My mother has 3 or 4, my father probably a couple?

I’ll stick my hand up here. I’ve got 4 current accounts at the moment: Nationwide - main, salary, mortgage etc; Halifax - 2 direct debits to get £3 per month (used to be £5); Natwest - cashback on some bills; and Monzo. Though most of my spending through my cashback credit cards.

Me :raising_hand_man: I currently have three Nationwide, Monzo and Starling. Nationwide is my bills account, Monzo is my spending account and Starling is a back up generally, but also good to have for overseas transactions.

Wow! Is there something I’m missing out on? Doesn’t it get a bit tiring managing them all?

Yeah, it does take a little time to be on the ball and keep on top of them all, a little more difficult now with a toddler in the house, though the extra few pounds per month it brings is possibly worth it. Probably more useful is the backup if another account has an issue or doesn’t have a feature. For example depositing foreign cheques (ok, I’ve only ever had one) having another bank allowed me to deposit relatively easily.

A lot of banks (and other IT providers) feel ‘if I can restrict something, I will’. That is, the default is to restrict what users can do, and only open the minimum needed to achieve (almost) minimal functionality.

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I expect all banks will eventually do this. From a customer’s perspective, it seems like it offers an extra layer of security, especially with contactless cards. But as any purchases made with a stolen contactless card will be refunded by the bank (unless there is customer negligence, presumably) the ability to freeze a card in-app actually protects the bank, not the customer.