How many :monzo: cards/accounts per person?

(Mike) #1

I’m aware that other banks typically allow more than one account/card - will :monzo: be doing the same… or is it already permitted (with multiple devices)?

(Rika Raybould) #2

Not sure of the exact rules off the top of my head but I believe opening multiple accounts (at least during the prepaid beta) is, at minimum, not advised. The system is currently built for one customer with one account. This may change in the future though!

I’m curious though, what would your reasons be for wanting multiple current accounts with the same bank?

(Mike) #3

I currently have one card used solely for things I’m able to claim expenses back on, this way it’s easy just to print out my whole statement and hand it over - rather than saving receipts or redacting my statement to exclude non-expenses transactions. Could use my credit cards for this but would rather have real-time transaction notifications with :monzo:


My previous employers had it as part of the terms of employment requiring one account for payment of salary and one account for reimbursement of business expenses

(Rika Raybould) #5

Wow, I’m glad I’ve never worked for anybody that awkward with expenses.

As for the general issue of expenses, couldn’t this be solved going forwards with proper expenses tagging and exporting of those transactions? Multiple accounts seems like a big workaround for the root issue.

Maybe this is just me but I personally wouldn’t open multiple identical accounts with the same banking group. I would much rather spread them out for redundancy against failures of any single bank.

(Mike) #6

Ah the joys of SAP Travel & Expense management :slight_smile:
My line manager did me a huge favour by giving me a blanket exemption as long as I can account for everything with one single statement or others supporting external expenses not listed.

I do have multiple bank accounts as well, expenses isn’t something I’d have a huge amount of money tied down to so unless we’re jinxing monzo’s demise I will assume it’s fine! Larger sums are already split between savings accounts and current accounts.

(Alberto Lietor Santos) #7


I have 2 accounts on Santander a 123 account where my savings are (receiving the interests) and a regular account where I put the month’s money (now I use monzo) so if somehow someone steal my card details it can’t do anything harmful to my economy.

I don’t think Monzo will offer savings accounts or ISAs in a near future but, if this happens, they should consider allowing having more than one account per user. And even if this sounds a distant future from a software designing point of view it could be great if you think how this could be done in case it is needed.

(Alex Sherwood) #8

Monzo don’t plan to offer ISAs at all & instead they’ll enable users to access a range of options through the Monzo marketplace. So I hope you can see why this particular use case (which would otherwise make perfect sense) isn’t something that they’re looking for a way to address.

(Alberto Lietor Santos) #9

I know, I know, this is why I said Monzo will not offer them in a near future, but hopefully Monzo’s life is going to be long and successful and who knows what could happen in 10 years (for example). I am only hoping if in 10 years the proposal came back the answer is based on business only not on how hard could be migrate the one to one account system to a one to many.

I am tied with a mortgage with Santander so on my near future I am not going to need anything more from Monzo =D

( related to Monzo CEO, Investor in Monzo ) #10

even if sometime in the near future Monzo could facilitate a better value mortgage deal for you ? a better ISA rate with easy transfer , a cheaper utility bill, better value holiday / car / house insurance ?

(Frank) #11

I currently use separate current accounts as my ‘pots’. So depending on how this is implemented/used I may no longer need multiple accounts.

(Alex Sherwood) split this topic #12

2 posts were merged into an existing topic: Two cards for one user

(NADI) #13

Hmmm I can think of one reason to open 2 similar accounts (though I didn’t do it myself!); for example when the account provides interest up to a specific balance limit (e.g. Santander’s 123). For example 1.5% interest for your first £20K balance only. Having 40k in 2 accounts would give you double the interest in this case! :slight_smile:

(MikeF) #14

If I had 40k, most of it hopefully wouldn’t be anywhere near a current account!

(NADI) #15

Hehe agreed! Unless they pay you more interest than saving accounts? :wink:

(system) closed #16

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