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

You’re probably right. I only set mine up yesterday and noticed that the account name was my name and so thought it might help you.

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It’s funny, I outlined a few reasons earlier in the thread but now there is a bigger reason - with its increasingly vague roadmap, seemingly non-ending gap between iOS/android features - Monzo more and more feels to me like a legacy bank (but without any interest or other account benefits)!

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In no particular order:

  • Multiple accounts / lack of features with pots
  • No on-line banking (web)
  • Lack of payment management features/payment management screens
  • Statements
  • Apple Pay
  • Lack of 3DS
  • Full on-line banking within the app. Legacy bank app offers pretty much end to end services which with multiple accounts and lots of payments is needed
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I currently use it as my main account already but i do find that the lack of 3DS is becoming an issue as most places deem it necessary to reduce fraud. The quicker that is in place the better and I would like to have a pot where my bills are paid from so I don’t gave to remember to keep the money :yum:

Quite simply - joint accounts. I don’t really care that much how, whether by pots or some other method. I can’t make it my main account until :monzo: release joint accounts.

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Mine is free within agreed OD.

Statements, ApplePay, Number of machines (and fuel pumps) that don’t accept it, glitches with Pins not working, Automatic Switching, Overdrafts, Overdraft Fees, CSV compatible transaction viewing and probably a few other things that Monzo doesn’t do or do well.

Can I ask how?

All of the accounts on Santander info page incur costs. Within agreed, too.

For me, just one thing: the overdraft.

I can’t get one yet.

I’ve pretty much paid off my student overdraft, but I do drop in to debt still occasionally. My NatWest “Graduate” account free overdraft facility has just ended, meaning it’s a £6/month charge for being overdrawn, plus some silly rate of interest. If I’m over, it’s usually only by a few pounds for a few days, so this obviously doesn’t work for me. So I am leaving.

I would have been leaving for Monzo, if an overdraft was available.

Instead, I’m off to First Direct. They’re paying me £150 to switch to them and giving me a £250 overdraft, interest free. In a few months time when I’m comfortably in the black, I’ll probably leave them and move everything to Monzo. They’ll pay me £100 for leaving too, apparently…

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Sorry if I wrote confusingly, I bank with Cooperative.

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No worries :hugs::smile:

Lack of being able to pay in cash is my main concern. This year already I’ve sold £510 worth of stuff on gumtree. I know post office paying in is in the works but the queues there are insane. I can pop into my high street bank and use the self service machine and be done in 2 mins. Also the withdrawal limits now and again can get in the way. I’ve needed almost 2k cash recently for moving into a new rented apartment.

My other issue is my credit file or lack of it until a year ago. I’ve never borrowed, never had a credit card, been on PAYG all my life, bills not in my name. I was only able to get a normal credit card from my bank who could see first hand how I handle my money during the 7 years or so I’ve been with them without them running a credit check. As a result I’d be wary to move banks fully until I’ve built up more credit history so I’m in the position to get almost any card I wanted.

I do love Monzo though.

From my uses of it so far I’ve found monzo to be the fastest on receiving winnings when doing a spot of online gambling compared to my main bank so it does some things better for my personal needs.

Current accounts shouldn’t make much difference to how a lender assesses you. There also should be no need for you to close your previous current account if you moved to Monzo

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3D secure payments is the main thing stopping me.

The ability to make SEPA payments would be nice too as well as depositing with cash, but I could live without those.

I agree with you, but with one minor caveat:

You may experience a small, temporary dip in your “credit score” for a few months after applying for a new account, depending on what type of credit check your bank performs (especially if there is an overdraft associated with the application).

On the other hand, having an overdraft that you are not using will be good for your “credit score” as it’s essentially unused credit.

I believe Monzo only does a “soft” search (unless you apply for an overdraft as well, which you can’t do yet anyway) which indeed shouldn’t lead to this temporary dip at all.

Having an old account can improve your “credit score” as well, so @David555 shouldn’t close his account.

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I’m getting charged for some reason when I take out money from my M account? That’s the main reason really…

The coral card is revolutionary and different, I’m not embarrassed at all to use it, I’m all about unique-ness :blush::balloon:

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Could you clarify which ATMs these are at? Overseas, or within in the UK? I think only ATMs that say “free cash withdrawals” within the UK are free to use. Otherwise, you may be charged a fee. Overseas, some ATMs charge a fee even if you reject DCC (happens a lot in the US etc.) and it’s not a charge imposed by Monzo

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Hey, it’s at free cash withdrawal machines I’ve had the problem coming up…

That shouldn’t happen, I think you should drop a message in app chat to ask why you’re getting charged for no reason

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