I’ve been a huge fan (and active user) of Monzo back when it was Mondo and I’ve been wanting to make a full move over from my current bank which I have had since I was 14, my problem is that I have a very particular workflow that I want to share today and to see if anyone can help me with an optimal setup on Monzo.
My current bank setup:
On my main bank I have three accounts - my current account, a bills account, and an ISA account. On the last day of the month I get my salary paid into my current account.
I have all my direct debits setup to my bills account (which come out on the 1st) and once the salary is paid in I move all the money needed for these bills into this bills account. I send some savings to my ISA and the rest is basically spending money which I send over to Monzo. Monzo is basically my bill free disposable cash.
I really enjoy this direct split of bill money to spendable money. I actually get quite bad anxiety around money and been able to move my bill money aside to another place really helps things.
How Monzo can fit into this?
Looking at this workflow, Monzo can handle most of it but falls short around the bill direct debits. Is there any other workaround on Monzo right now that would allow this kind of a setup?
I have a joint account with my wife on Monzo now which could work but not all the DD’s are joint. Will Monzo ever allow you to have multiple account numbers under one account, almost pots but with their own SC and Acc number?
Or is there any other way I can get a similar setup. Any advice would be appreciated!