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

The biggest thing for me is lack of an overdraft. I can’t remember the last time I used mine, but I would like one in place for the rare occasion I need one. Prior planning and all that!


There is no compelling feature of my Monzo account which would pull me into making it my main account. My main account pays interest and gives cash back on some direct debits. My spending is done on a cash back credit card and Monzo don’t offer any of these.

My use of Monzo is currently limited to spending on nights out, occasional ATM withdrawals, and spending abroad. These are the things Monzo is good for in my experience. Monzo will add features in the coming year and my usage will evolve appropriately, I expect.


It is my main account and will remain that way however we might swap back to our old provider as the lack of joint bank account is actually really hurting us and adds a lot of admin over the top of our normal life


First Direct give me a 0% overdraft on the first £250, easily beats Monzo on small overdrafts.

Monzo have been very clear, if you have a large overdraft the new fees will be very very good for you. If you use a small overdraft, they may not be that great for you - as in an equivalent APR of up to 869%. Monzo are still working on overdrafts so I am happy to see how they develop.

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Lack of joint accounts is a game stopper
7 day switching service probably needs to be in place as well
Apple pay would be nice and definitely needs to be on the roadmap but not at the expense of getting joint accounts in place.

Just think of the number of couples who will not switch until this is available !


Whilst I’ve switched my main personal account over, most of our direct debits/payments come out of our joint account. For me to switch the majority of our household transactions over, we’ll need:

  • Overdraft facility
  • Joint accounts
  • International Payments/receiving

in that order (overdraft means I can switch some DDs without worry/concern, joint account so I can switch the main household ones and international payments as probably during 2018 I’ll be paid by an EU company).

You’re a easy person to please it seems. :slightly_smiling_face:

  1. Second Account
  2. Payments & Payment Screen
  3. Apple Pay
  4. Statements
  1. Apple Pay
  2. Current account switching service
  3. Joint accounts
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In order of importance for me personally:

  1. Monetisation plans
  2. Lack of web interface
  3. Joint accounts
  4. Direct debit timing (only trying once)
  5. Lack of interest

I am not convinced the offering has really moved on from the prepay Beta days. There are so many fundamental banking features missing:

Joint accounts
Interest/switching bribe
Cheques in

The above has been discussed before. I have been in email contact with Eliot yet still the answers given by Monzo staff seem vague. This is not something unique other banks have policy for this, please consult your legal department and publish the procedure.


Poor in-app security (they mostly only need your birth date), stiff heart-vs-head competition from starling bank (interest, no limit overseas withdrawals, faster in app support, feels more secure, more developed on android) and the thought that I still can’t get over the fact that if my phone is stolen, “there goes all my cash” that I generally have with all app-based finance - even if I know monzo cs will instantly block and reverse any charges a thief may take

edit: it’s still damn good though, and even though I do have a current account, I basically only use it to top up my monzo and do debits and stuff

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this is not missing, you post them to their office (though they don’t have preprinted envelopes like National Girobank did, nor BACS Credit slips to include with the cheque)


Did I seriously just read switching bribe?


Mine would definitely be:

  • Apple Pay :mage:
  • 3D Secure implementation :closed_lock_with_key: ( :cry: I wan’t to buy coins off Coinbase, too )
  • International payments & IBAN provision :eu: :us: :jp: :united_arab_emirates:
  • Web interface :desktop_computer:
  • Statements :page_facing_up:

Having good interest / cashback is also good, but not a necessity that would necessarily miss.
Photo check deposit too.

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the only reason I haven’t is I’m living in Australia, have my current account set up and have my card here in Aus though :smiley:

  • Apple Pay
  • Receiving money from overseas
  • Overdraft
  • Sticky payment references
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Web interface and joint accounts.

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The main things that put me off are inertia - the thought of having to switch all my DD’s - I have 20-30 - and more importantly the fact that I would get a message every time a DD was paid out which would dilute the impact of just having a set weekly top-up to use for my day-to-day non-DD expenditure. By running this weekly way I find it easy to control this sort of expense. Mixed in with DD’s I feel I’d never be able to keep track.

No joint accounts. Being a married couple both 71 years old the difficulties in accessing funds before probate is given is a big negative.