I signed up for Monzo Flex last month. I was offered a limit of up to £4000, but I chose £200 initially to try it. I thought the limit would be flexible and planned to increase it if I was satisfied with the process. The next day, I made a £100 purchase and selected Monzo Flex. 2/3 of the amount was refunded to me like it should have been. I like the service, so I want to increase the limit. When I click on the increase limit option within Monzo flex, it just says check back here soon and won’t allow me to change my limit (screenshot attached)
. I paid back the remaining 2/3s of my initial and only flex purchase early, in an attempt for it to allow me to increase, but this changed nothing. How long does it typically take for you to be given the option to increase your flex limit? Are there any eligibility criteria that I may not be satisfying? Thanks
You can’t increase your limit … yet. But it’ll be coming soon!
It could be weeks or months away, all we know is it’s , with no emphasis on how far away it is at present.
It’s not yet possible to increase your limit but this is something we are looking into
If you’re urgent for an increase, you can pay off flex in full, close the flex account and then reapply.
Please note, reapplying is subject to fresh eligibility checks therefore cannot guarantee you’re eligible again for the same, or higher limit, or the same APR.
Accepting the offer of Flex will also mean a hard search made on your credit file.
Hope this helps.
Disclaimer: Even if it’s 52 weeks that’s still weeks In all seriousness we’re aiming to launch limit increases (and decreases) in the next month or so.
Have only used it once because my limit is a very disappointing £400.