How do I transfer money?

Seriously? That seems rather inconvenient.

1 Like

Not between different bank systems at least; without some intermediary. I currently have Simple Bank as does my Fiancée and I can send her money instantly.

2 Likes

Have you gotten Paypal working? I am
struggling.

I do have Paypal working, as a medium to transfer money from my linked UK bank account(s) to US residents that also have Paypal accounts (which are linked to their US checking accounts)

It does not seem to be compatible with Monzo USA

Your Monzo Account Location is set to UK in your community profile - are you Monzo UK or Monzo US?

The only thing on the US side is to have a valid checking account linked to Paypal. It could be that Monzo isn’t a recognised checking account yet (from Paypal’s point of view)?

I have multiple accounts :slight_smile:

That would be my guess, though Monzo supports ACH and has both routing and account numbers.

Have you contacted PayPal and asked them why you can’t add your account?

Yes,

I have about 6 times but they keep hanging up the call :unamused:

1 Like

Does anybody know if Mozo accepts incoming domestic wires (FedWire)

I just found out they don’t, but they are working on it

If I want to make a regular transfer by ACH to pay a friend back currently I have to fill this out, or use a third party like Paypal.

https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/electronic-funds-transfer-and-bank-wire.pdf

It seems to me like scheduled or recurring Monzo-to-Monzo payments would have a strong use case in the US.

For example, users might get Monzo so they can automatically transfer rent to a flatmate every month.

1 Like

That might work, though most landlords want a check or cash in my experience.

1 Like

I suppose the flatmate collecting the rent could either then write a check for the full amount themselves or get Monzo to send a check on their behalf.

That only works if you have flatmates…

1 Like

Of course. There are at least a few million people in the US with flatmates though!

True. Only good if they are on Monzo tho. Zelle might be more beneficial.

1 Like

I imagine it might make a good “network feature” (features which encourage other Monzo users to persuade people they know to get Monzo so they can use the feature with each other).

Currently there is no way to transfer money out of a US Monzo account other than spending it, or paying a other Monzo user which is really limiting.

1 Like

This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.