If you haven't moved over, what's stopping you from making Monzo your main bank?

Summary and left to spend should be just as good as a spending pot if you are paid monthly and can set a budget. If the issue is that you still spend money over and above left to spend then a spending pot isn’t the solution.

Much easier to simply use another account at another bank for bills, I think.


Especially when NatWest give you good cashback to do so, makes it a no-brainer for me.

Limited overdraft limit (£100) compared to Starling. Also, they don’t charge you for overdrafts when your pots exceed the amount you are in overdraft by. So that’s cool. Ultimately it’s the buffer of overdraft stopping me. My big annoyance!

Simply that my Monzo overdraft limit is £0 and they won*t budge on that.

Have a good quality credit report, no loans, a couple of credit cards that are always repaid in full. Homeowner with no mortgage. Current bank (first direct) has given a £1k limit since day 1 (over 30; years ago now).

Having a decent overdraft limit available is more of a comfort thing than an often used necessity, BUT I’m sorry to say that it’s the one thing that stops me from going full Monzo.

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Some good advice on that here:

Coupled with this so you’re not wasting money by paying fees to the bank :slight_smile:

I think the idea is that you aren’t actually in your overdraft if you have money in pots. Starling don’t have third party pots like Monzo so all the money is effectively still with Starling.

If you are -£500 in your CA but have £500 in pots Starling net you out at £0 so you wouldn’t incur fees.

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&Just to add to my earlier comment in this thread. I think that, when I joined Monzo “back then in July 2016”, I naively thought that Monzo would eventually be a better version of “my bank” (in my case first direct) and would at least match it in EVERY respect.

Today, it mostly is, for me. Don’t get me wrong, I think Monzo is fab, a breath of fresh air. In terms of functionality and operationally, it’s still ahead of the mainstream banks, in my opinion. And I totally get their cautious lending strategy, now that I’m aware of it. Maybe one day that will change and they will want to be that better version of “my bank” (and I’m guessing many other legacy banks) in the one remaining area (overdrafts) that they simply just aren’t right now.

And I now see my own main bank (and others) actively becoming “more Monzo”. It’s taking them some time, no doubt struggling to bend old legacy systems to satisfy new requirements for snazzy features, but slowly they are getting there. Probably too slowly but in the meantime, the need for me to go full Monzo is slipping away because of this one key issue that is the stumbling block for me.

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So is the issue that you want an overdraft but Monzo wont currently give you one?

To be clear. If an overdraft facility was available to me from Monzo, I would go full Monzo. It’s the one thing I would lose by switching. Rarely use it, but it’s like a security blanket, knowing it’s there gives me comfort. Like for the time I accidentally went £850 overdrawn because I set up the wrong date on a transfer of some money from an external savings a/c to cover a big bill. Been a customer for almost 3 years now. Love them so much I even invested via crowdfunding rounds. But they cannot offer me an overdraft (says the app), which I understand and accept in view of their cautious lending approach, perhaps that will change sometime in the future when their policy becomes more relaxed with age. So I suppose it’s become a sort of “mexican stand off” situation between us! That’s it really. That’s the story of why I haven’t gone/what’s stopped me from going full Monzo…


One of the things I was told to check when I wasn’t eligible for an overdraft was my Noddle report, if the information on your Monzo and Noddle account doesn’t match up perfectly it can appear as if you don’t have any credit history, when I checked it mine was indeed slightly incorrect.

Might be worth a check!?

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Monzo gives notifications a few days before direct debits etc. leave

They also give you a chance to redo the direct debit etc. once you have moved money later in the same day

Which to my knowledge legacy banks generally dont

Most of the big banks will try a direct debit twice before rejecting it.

Yes but (at least with Santander)

I dont get a notification that the first one failed

Do you have (free)text alerts set up with them? This happened to me recently with Santander and I got the following:

But trust me “they” are probably working on it, just as they seem to be slowly but surely playing catch up and replicating many Monzo/challenger bank features! I’ve seen some of first direct’s w.i.p. and it’s definitely “be more Monzo”.

To conclude my input on this, I just read a comment on another thread with the idea/suggestion that maybe the “going full Monzo” process ought to include an option for the customer to request a specific overdraft limit before going on to CASS and allow the customer duck out if the requested limit could nor be offered and a lower limit (which would include £0) was offered instead. I kind of like that! I could just re-try a couple of times a year until successful or until I die/give upon the idea…

I get some texts from them - like a weekly one about my balance but I dont believe I have had the option to set this up/havent had it happen.

Good to know they do send something though

The only thing holding me back now, is that the card still doesn’t work everywhere. I’ve had issues using it on buses that allow contactless payment before. The most recent one, was when I was on holiday in Cape Verde. I could withdrawn money from cash points, but it wouldn’t allow me to pay with the card. So I had to rely on my HSBC card.

The fact that I always have to have a backup card with me, just incase is a real issue. I would have thought that by now it would be accepted everywhere.

Another minor issue for me (which isn’t really Monzo’s fault) is that Chip still don’t support Monzo accounts.

I was full Monzo… but not anymore. I have just opened a new bank account - due to the lack of committed spending pot. Two bank accounts makes budgeting committed spending so much easier.


Does that mean you still have your Monzo account as one of your two, or have you given up on it all together?