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

Very little reason if you live in a city or large town. I live in a small town and there a lots of places e.g barbers, sweet shops, small independent shops etc which do not take card, local wednesday/sunday trading markets are a big one too. So you physically still need some cash around. I imagine place like London etc you would have no need for cash at all.

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Really? Cards are not universally accepted but I wonder what is…? Hmmmm ah never mind I’m sure it will come to me shortly. :stuck_out_tongue_winking_eye:

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I agree, I rarely use it but we need some way to pay in cash. I would like the post office to be the main source of it, dont trust paypoint myself

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Cards can be accepted with a reader that costs peanuts, and if someone doesn’t accept cards simply head to the competitor across the street that does accept them :slight_smile:

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Still not true, as a Londoner there are still lots of independent shops that simply don’t accept cards. True the number is slowly decreasing but like I said a cashless society is way off.

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if someone doesn’t accept cards simply head to the competitor across the street that does accept them :slight_smile:

If only it was that simple! E.g. no barbers where I live accept cards, so unless I never want a hair cut I have to pay cash. I wish they did accept card but they don’t see any reason too

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I’m curious what places in London don’t accept cards, so far I haven’t had any issues (as in flat-out refusals). Oddly enough the places that gave me some trouble were big nightclubs who try to insist on cash for entry fees, but as soon as I decline and turn around they suddenly take out a card machine out of nowhere and let us in. :joy:

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That’s a fair point IF you have a competitor nearby that accepts card. Even then since it’s a independent they will more then likely have a minimum spend. What if you don’t want to spend that much? Ah forget it I’ll just get…Cash!

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I have a local kebab shop which is totally not taking cards. Told me some crap about drunk people trying to remember their pin number. When I pointed out contactless to them. They was still adamant about cash. (Tax dodge.)

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I’m not sure why the regular person needs it? Unless you are a small business that only takes cash payments, when would you even get given cash?

Paying via cash is not problem, you just withdraw from an ATM.

Does anyone actually get paid by cash rather than bank transfer? If not, then the only cash you would ever receive is birthday gifts (etc) which is pretty rare, and not a large enough amount it matters if you keep it in cash.

For business accounts I can see why it is necessary, but why is it for personal accounts?

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Yep, super important, if you are looking to take out nearly any other financial product: Mortgage, Loan, or Credit card, they will have to go to a CRA to check what your credit worthiness is like. I know callcredit are the smallest and reasonably cheap to use. Their coverage is smaller and havent been plagued with breaches like Equifax, but they have started, so i fully expect lending products to follow from Monzo.

Thank you guys for letting me know about the reporting, just the other major point to sort: paying frigging real life money in!! :slight_smile:

The title of the thread is asking what is stopping you from using Monzo as your main bank. The majority of postings have listed functions that are just not available in Monzo now.

Then there are the early adopters and diehards who always suggest ways to circumvent the problem.:

No cheque pay in - Post it (don’t ask if it gets lost)
No joint accounts - get divorced
No CASS - do it yourself "my 3 DDs only took a wet afternoon"
No statements - contact CS and the one person will produce it manually for you

My point being all the deal breakers are important to the posters and they need fixing for them (and myself) to fully come on board. Some priority needs to be given in overcoming these basic lack of banking facilities before producing advanced features.

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Because oddly enough humans are given change from cash transactions and maybe sometimes they might want to deposit that cash back into a current account.

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Square is even cheaper :slight_smile: and has a nicer app, though the iZettle reader is better, so meh.

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The only time I have dealt with relatively large amounts was to speed up the transfer between BS and bank and avoid a £25 fee for an online transfer.

But that still sounds like <£10 at a time, surely you just keep it and use it to buy the next thing?

I’m not arguing that of course Monzo should work out a system to accept cash, but it seems pretty insignificant how much trouble it causes, which is why I’m surprised that so many people are bothered about it.

I can’t remember the last time I paid cash in, I just keep it for next time to avoid the hassle of having to withdraw then.

@anon81274823 that is mental! I had no idea you could be charged between a BS and a bank. That makes sense to get around a ridiculous fee.

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why? I used it weekly for over 2 years and never had any problems with it

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Some people don’t like walking with coins/notes in their pocket if they don’t have too.

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It is the first item called telegraphic transfers (UK) and I was wrong - it is £30:open_mouth:

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The few shops i’ve been in to use it, the owners seemed to not understand how to use it, completely dismissed they had it, or always tried to overcharge etc. Therefore I wouldn’t be happy using it personally. I’ve never had a problem with the post office and would be happier about pursuing a problem with them than paypoint