How do you deposit cash? [Feedback thread]

They may say 1 free deposit a month or a quarter, otherwise there is a fee?

You never know once Monzo start making a good profit they may change some of these limits / fees. Things like this don’t feel as fixed with Monzo as other banks.

I don’t have any issues with what they have introduced so far, I feel they are more than reasonable!


Per quarter? Maybe for business customers (if they plan to service the above customers) but not for personal users surely.

I would do it based on size of deposit. If you receive a large amount once in a while (say over £200), it’s good to be able to pay it in, but you wouldn’t want people paying in tenners all the time. I would say just charge for smaller amounts.

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That’s discriminating against people who don’t have large amounts of money. Remember the unbanked? That really would go down like a lead balloon.

Even worse is the fact that they would have to walk around with or keep at home large amounts of money in order to cross the £200.00 threshold.

Well I expect they’ll “discriminate” somewhere, either by size or frequency.

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I’m not so sure as Monzo is all about helping the unbanked. Not unless there was a separate bank account for them with no paying in restrictions. :man_shrugging:

It was just an example that I feel would work. I’m sure Monzo have crunched through the data in more detail.
The only statistic I don’t see as being accurate is the one relating to how many people deposit cash.
If you don’t you’re unlikely to fill the form in to start with so it’s slightly biased maybe.

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I really hope Monzo is looking at partnering with Post Office rather than PayPoint/Payzone.

I used to make a lot of cash deposits to top up prepaid cards etc and the PayPoint experience is not very Monzo at all. Most of their many locations are tiny corner shops where the proprietor is earning 50p a transaction to process someone’s bill payment for maybe £20-£50 - tap on Bill Payment, scan the barcode and enter the amount the customer is paying in cash. That’s 50p for 30 seconds’ work and the customer probably bought other stuff as well.

When i rocked up with my unknown brand of prepaid card and £500 in cash to put on it 90% of them didn’t have a clue what to do with it, let alone want loads of cash in their till. Mostly there was a 5-10 minute faff around on their screen, stopping and starting for whenever a real customer came in and wanted to pay, ending up in the manager being called and spending more time awkwardly figuring out how to do it. Some succeeded, others just said “sorry it doesn’t seem to work” :neutral_face:

Now the Post Office… whilst everyone knows you can get awful queues and they can be fewer and further between, their staff are a jack of all trades carrying out dozens of different types of transaction and they are used to dealing with cash over £100.


Spoken with a true “I don’t give a s*** how it affects other people” attitude.

I have a second job that pays cash weekly, I imagine I’m not the only one with that kind of circumstance. You know how circumstances are different for lots of people… for those of us that don’t live in a bubble anyway.


Not sure if anyone is aware but Tide allow you to deposit cash according to this post, the fee is £1 per deposit which I think is reasonable.

It will be interesting to see if Starling will charge any fee for this service when launched imminently.


Reasonable for a business account, yes. Deposits should be large so will dwarf a £1 fee.

Maybe not so much for a personal account?


I don’t remember when I deposited cash last time so wouldn’t be impacted by this fee. I am not sure about some folks who still get paid in cash on a weekly basis ( difficult to believe but some still do!)

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To be honest, the only deposits I’ve needed to make in the past couple of years have been large ones so I am a counter example to my own point.

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I’m a person that makes lots of little transactions so I agree with your first point.


If depositing isn’t free then I’ll just keep my legacy bank for cash deposits.


As Monzo is doing a great job so far the lack of having an easy way of depositing cash into your account is not great.

PayPoint is more convenient way of depositing cash. Some PayPoint stores are open 24/7.

So would it not make sense to use PayPoint?

Secondly, as this is an option that that not everyone would use, maybe Monzo could use PockitUK’s platform and charge us 99p a month for the added benefit.

Any thoughts?


Hi @SeanLV,

I’ve moved your post here as Monzo have been gathering a bit of feedback on how people use cash deposits. It seems they are planning to get something working in the next few months through a third party.

I’m sure your feedback will be useful!

How this helps :slight_smile:


Yes, I think this is a very fair way moving forward. Plus it’s another income stream for #Monzo. We can’t expect them to do all this great work for free.

  1. How often do you deposit cash at the moment?

Maybe twice a month at the present time. It was already a faff. I had two Natwest branches close. So I would use my Lloyds account as they have a branch near me. I would then transfere the funds to my Natwest. I said it was a faff.

  1. Where do you tend to do your cash deposits?

Right now with my local Lloyds Branch. I am keen to close that account as the branch is earmarked for closure.

  1. What days do you usually deposit cash?

Monday to Saturday.

  1. At what times in the day do you deposit your cash?

When ever the branch is open.

  1. On average, how much do you deposit in each go?

It depends how much cash I have at that time.

  1. Why do you tend to need to make cash deposits?

I have always been able to deposit cash and it’s never been an issue.

A few friends of mine have resorted to Cash Plus and Pokit. I have never liked the apps so never signed up. The Pokit account allows PayPoint and Cash Plus is the Post Office for Cash deposits. I am not too fussed what solution is there. However, just to say that the Post Office may be the better solution.


Cash deposits are now live: You can now pay cash into your Monzo account!