tbutz
(🏳️🌈 Producer of "low value commentary")
63
Why would someone comment if they didn’t have an interest?
This is nonsense. This is a community forum, where people discuss things. You’re not being attacked just because your opinion differs from others. You’re taking other people having differing views as something it’s not.
He literally said he is hasn’t needed it in 30 years so doesn’t seem interested.
I came here to raise a point is all but I am done now. Wasn’t trying to start an argument or even intense discussion as it seems to have turned into. I just came to raise a point is all.
I think it’s very important to Monzo, especially now for business accounts but it’s just not as easy as all that or it would have been done already. And the direct connection to faster payments needed doing first as it had too many issues
Ahh, I did do it to check it worked from my KBC account and it worked so I had just assumed it had sorted itself out. I guess its trial and error right now until anything official?
I have also sent money from my German account to my Monzo account via IBAN to see if it worked, and it did. Monzo told me that they take no responsibility if it does not work, since they officially do not support IBAN yet. I will feel much safer as soon as they do.
I also hope that IBAN transfers involving Monzo and other EU banks will be a free service, just like sending money via different banks with IBAN within the euro zone is.
Just astonishing this still hasn’t been resolved. There’s so much to like about Monzo but the several occasions I’ve had to explain that my bank doesn’t properly support receiving payments from abroad being met by disbelief have been extremely embarrassing. Each time I’ve had to give the account details of my brother’s high street bank for him to then forward payments on to me. Genuinely staggering that this feature hasn’t already been added as a matter of great urgency. If Starling have indeed already implemented it then I’m off.
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tbutz
(🏳️🌈 Producer of "low value commentary")
73
The rational approach to your issue would be to open an account with a bank that does have full IBAN support, and simply use that for receiving foreign payments until such time as Monzo implement it to your satisfaction.
That way you can continue to use the other features that Monzo offer, and you’re not forced to have “extremely embarrassing” conversations about your financial woes.
Hey folks, sorry for the radio silence here but I’m afraid we don’t have any more updates on this area at the moment. As soon as we’ve got an idea of timelines/next steps, we will share them.
It’s also worth pointing out that there’s no ‘one thing’ that would address every request we see asking for an IBAN - the problem we’ll need to fix is how international payments are converted into GBP and reliably routed to Monzo accounts so that “it just works”
One thing is pretty clear though - when we do end up working on this, the first thing we’ll look at is the ability to receive inbound SEPA Credit Transfers (as this seems to be the biggest “gap” to plug right now).
The Payments team at Monzo
As some of you have pointed out, the team that owns this area is the same that has just brought our Faster Payments gateway in-house (which we’ll share some more details about soon), and was also the same that had to make the tough decision to pause cheque imaging earlier this year.
As with most teams at Monzo, we have a finite number of engineers to tackle an ever-growing list of work (both "nice to have” and mandated by schemes/regulators etc.) and so, unfortunately, some stuff has to take a backseat for a bit, regardless of how much we want to ship it. II can assure you it’s not due to lack of desire to work on it, it’s very much a case of team capacity and priorities.
From a customer perspective, some of these features might seem to be quite simple or “basic" (e.g. you just take a picture of a cheque or receive a foreign currency transaction and the money ends up in your account) but to get them in a fit state to have people use them in their day-to-day lives is often a huge undertaking, with a number of external factors and testing/“go live" windows to fit into with 3rd parties.
I hope that answers some points raised here, and hopefully we can share some more useful information soon.
Secondly, this is a great update and thanks for the clarification on this, much appreciated and also completely acceptable for the reasons you’ve stated.
The main thing I would maybe say to improve the feedback process is that if as you say this has been known to be pushed back for a while due to team availability it maybe would be better to release this update alot sooner in the process so as to avoid the confusion?
Potentially add a emoji to the titles to show they’re on hold similar to the to show theyre currently being worked on
IBAN is annoyingly a required field when completing a Ryanair refund/compensation claim etc. I’ve generated 1 so hopefully it works. Would be better if monzo supported though as a standard feature of the high street banks and makes me concerned as I’m full monzo