I asked a 24 year old why they don't use Monzo as main card and have multiple cards

Here’s what he said


What did he say coz I’m on a plane and can’t watch.


Long story short he bounces money around into different accounts to get benefits from other accounts ect which is all fine if you are that way inclined but my time is to valuable to bother with all of that :joy:


Yeah forget that nonsense, thats longggggggg


Been there done that :joy:.

I created a burner account just for that purpose, closed it down now since I’ve gained all the rewards.

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I do something similar to the guy in the video (except I don’t really use cashback/reward spending cards; I use Monzo for most of my spending). It doesn’t take any time at all after the initial setup. All the money flow is handled by standing orders.

Oh I’ve done this, I still do a little with my savings.

Life is short though, once you’ve got a couple of accounts to spread the risk and a card on every major network, you get fast diminishing returns and managing them all after a while becomes a pain.

Monzo (with attached savings pots), Nationwide (with a network of internal scheduled payments for regular savers, Help to Buy ISAs, etc), Metro Bank, and an Amex card just for curiosity and a few Japanese merchants works for me. Everything else I’ve closed down over time.


I opened a Metro Bank account, but couldn’t deal with their ancient way of doing things… password characters over the phone, seriously?

That’s the issue, when people tell me “it’s easy” and then they show me the processes of having to log into every account I just see time flowing down the drain for little benefit really.

I work in film so time efficiency is very much instilled in me :joy:

I don’t bother calling them, much faster to go in the branch

I do a similar jumping about to gain benefits, though with some of the gains now being so little I’ve been contemplating closing one or two of the accounts.

The point about putting savings aside is rather significant as a way to ensure that you do save and put that money to work and gaining interest on interest.