Ideas to make Monzo my perfect bank

I was just accepted into the beta, so I haven’t been able to use Monzo yet. However, I’ve been looking at what Monzo currently offers and would like to suggest what Monzo could offer to have me switch completely. Of course, most of these would probably require Monzo to be an established US bank first (which they are working on).

  • Checks. While I rarely use them, they are necessary to have.
  • Early direct deposit. A great feature that many banks are starting to offer.
  • Mobile check deposit. Pretty much every bank has this, so Monzo probably should too.
  • APY on checking. Even if it’s a small amount, I’d love to see my money making more money.
  • Cashback on purchases. To me, this is not as important as APY on checking, as I rarely use my debit for purchases. However, it’s a nice-to-have.
  • ATM deposits. Similar to the check thing. While I don’t have cash often, it’s nice to be able to deposit it when I do.
  • Low fees. I overdraft on occasion and don’t like being charged for them. Maybe offer an overdraft line of credit that gives you x amount of days to pay it before you get any fees.
  • Premium cards. Also, not super important to me, but I like metal cards. If Monzo supplied a limited amount of metal cards, maybe for a fee, I’d buy one!
  • Fast funds availability. Some credit unions allow you to access funds from a mobile check deposit almost instantly. Other banks usually take 1-2 business days. I’d like to see Monzo be able to process these same business day.
  • In-app card locking. Not sure if this is already a thing, but if not, I’d like to see it!
  • Virtual card numbers. I use a third-party service right now to protect my card numbers. It’d be cool if Monzo did this for shopping online!


  • Yodlee/Plaid support. I use budgeting software that uses Yodlee to connect to bank information and pulls in transaction data automatically. This is a must-have for me!
  • 2FA support. Specifically, mobile authentication apps. I’m not a fan of text-based authentication because your phone number could be hijacked, but your app certainly can’t (without malware)!

If I have any more, I’ll add to this list… but so far, this list describes my dream bank that I have not found yet! So, maybe Monzo can take the crown?