So far, so good. All my joint account direct debits were just set up in my joint account . Almost at #fullmonzo!
I’ve been #FullMonzo since the end of May 2018 but have been with Monzo since May 2017
I still have my legacy bank but now that is solely used for cash deposits, I work in hospitality so I have weekly Tips, after a few weeks I put them into the legacy bank and then transfer them over, it’s the only reason I keep the legacy bank open as there is no viable alternative with Monzo ‘yet’
I’ve had zero problems with having all my salary and D/D going into and out from Monzo and when it comes to shared bills, split via Monzo.Me is a lifesaver.
I wont be changing until there are more options for salary day… ie last working day of the month rather than a specific date. Otherwise I would love to!
I’m always interested in reasons like this (similar to some reasons on the Starling forum).
Is it because not having the options for salary day messes up your analytics (whereas you can manually move your salary over on the correct day)?
I’m assuming that your legacy bank doesn’t have this option anyway, so you wouldn’t be missing out on anything (unless my first point is correct).
Genuinely interested to know!
I’m paid on the last working day too, it’s not ideal right now but it is still way better than any legacy bank
True, although it shouldnt be difficult to do. Emma do it really well. Although Im also remembering that Halifax give 3 pounds a month for getting your salary paid in which is 36 pounds a year and all I do is tranfers my non direct debit money into my Monzo account when I get paid
Yes, if the month is longer then, as an example, my mortgage DD is counted twice or it is counted even though it will be in the next month as payday happens in between. This completely messes up the analytics.
And you’re right…other banks don’t have the analytics. However, Monzo does have them and so we ARE missing out compared to everyone that has a fixed pay date. Might as well go back to legacy banks if the we are forced to miss out on a central feature, right?
I completely get that people who get paid on a schedule which is currently not compatible (99% of the people I know get paid on the last working day each month) are at a disadvantage to those who have a fixed date and CAN take advantage of this feature.
But my point was that a legacy bank doesn’t have any of the little insights Monzo has - So unless this is making your life harder (again, I don’t know as I don’t personally look at the summary), reverting back to a legacy bank is getting you nowhere.
I would hope the different pay scheduled would be high on their list of things to do - It seems so… obvious?
I always get paid on the 20th however if that’s Sat, Sun or Mon then I’ll get paid on the Friday before it so even for us who are on same date it doesn’t always work out!
Finally gone FullMonzo, will be keeping my Barclays account incase i want to pay cash in occasionally
My CASS just completed this morning so we are now #fullmonzo
Joint accounts have definitely brought me closer to going full Monzo, just need joint pots now. I do still hold a legacy joint account used for bills(which also earns me £4/month) but I can’t see that changing unless Monzo offer a second joint account or a way to pay bills from a pot. If Monzo offered those things I would actually start closing down some of my legacy accounts
Joint pots is the big missing one for us. Bill paying from pots is in the works and hopefully that’ll involve joint accounts too!
Joint account CASS?? From another joint account?
Yeah, many people have reported it as working by using the button that appears in the join account section…
I have the same nationwide account and yes it’s great for the insurance deal, however I only keep it active to use the insurance, I do not use it for any other DD’s or SO’s and nationwide seem happy with that. ( I do have a nationwide credit card that is my main card, so not sure if this is what keeps them happy)
Got some savings in an interest account so probably won’t move that to Monzo as there’s always going to be better deals for that kind of thing at other providers. Day to day spending is all Monzo (salary goes to savings account then transfer myself an allowance every month) and my wife has her account in Monzo now with salary. I’m moving our joint to Monzo once the cards and CASS are ready.
It’s the direct debit from pots that’s stopping me from moving fully, I like to keep my committed house money (mortgage, electric bill, council tax etc etc) separate from my committed personal money (life insurance, pension, clubs etc etc) totally separate from my spending money. This also allows me to cash in on the rewards account currently offered by NatWest, so while I would also be reluctant to o ditch my NatWest account I would be happy to route my salary and other income through Monzo and therefore making it my main account.
In all honesty I’d love for monzo to tick all my boxes and I would be more than happy to buy into the whole monzo eco system, I do however appreciate that may be someway down the line.
I’d love to see competitive insurance products like with nationwide flex plus, £13 per month and it covers up to 4 mobile phones gives my full breakdown cover and worldwide travel insurance.
I’d love to see kids accounts with working bank cards that can be used globally.
Monzo can and I’m sure that they will do this in time.