FCA - im sure its part of the requirements for the banking licenses.
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No Apple Pay/Apple Wallet support, no overdraft option. Without both of these, it’s not worth leaving my current bank (Nationwide).
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I don’t fully understand what “main account” means. Other banks offer some interest on current accounts, HBOS has a monthly “incentive” payment. Challenger banks like Atom offer higher rates on savings. Credit cards like M&S, John Lewis and Amex/BA give incentives to use them. Some of these bank and credit cards allow ApplePay. Some have joint accounts.
I see Monzo as good for overseas use, instant notification of payment and payment between friends.
I don’t just pick one bank or card and couldn’t easily say which the “main” one is.
I suspect the idea that you have to switch bank accounts rather than just try another one in addition deters people from trying challenger banks.
Hope that’s useful.
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Where are you paid basically
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Not any longer! Now you may as well take Starling for your overseas POS use and still have a card you can use in a local ATM if needed. With Monzo you’ll be stung 3% so would end up needing to take a second card.
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I think there might be an RPC call for this but @RichardR will know more. I’ll do some digging 
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I don’t fully understand what “main account” means.
The account you receive your pay into.
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The only thing stopping me is that I can’t use the CASS to switch. The time and energy it would take to manually switch over everything from my existing account is prohibitive 
really disappointed that this has been moved back to a medium term goal for Monzo
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Ahh well if another bank offers an incentive for you to pay in a certain amount each month, you pay your salary into that, even if you move it straight on to other account(s).
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Fair points! I guess it comes down to what’s important for you as a customer (and we hope there’s a fair amount to distinguish us from the established banks!).
One thing that’s been really interesting for me during my time at Monzo and learning about banking is appreciating the number of different ways people use the same product (this thread is fascinating!). Catering to such a diverse range of customers in a product that still feels simple and elegant is a real challenge, as is prioritising the million+1 things we’d love to implement but just don’t have the manpower/time/limbs to action at once.
For some people a current account without joint accounts is indeed unthinkable, while one friend told me earlier this week that the only thing stopping them from switching everything to Monzo is not being able to choose custom categories.
Regarding switching bribes, I think we’d rather put our energy into improving the app and adding features. While growth remains healthy, to me it makes the most sense to continue growing organically for as long as possible 
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My wife & I can’t move over to Monzo as our main bank until they can offer a legally binding joint account. Knowing that my family will literally starve, if I die whilst relying 100% on Monzo - because they will be locked out of all funds that we live off, is the deal-breaker. If you’ve ever had to deal with HMRC following the death of a loved one, & waited & waited & waited for Probate, whilst everything financial is locked away from you, you’ll know why I can’t risk placing my family in that position.
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Getting Divorced seems a little over the top just to change bank accounts…
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People seem to get divorced for less…
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50p a day aint to much other banks charge more then this
Export your transactions as a CSV file and it is then trivial to add a running balance column in a spreadsheet app. Sort on the running balance column (or use the MAX function), and you have your high water mark.
It takes only a couple of minutes and is no harder than with a legacy bank where you have to also export a CSV, etc., unless you want to spend a long time manually looking through a year’s worth of transactions.
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They committed to this a while ago, but there’s not been any recent update as to when it will be implemented. But it is definitely coming.
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That’s my plan, but it’s still a lot slower than just glancing quickly through a year of transactions. I usually only have a couple transactions a month on my legacy current accounts.
You do make a good point, I actually use Monzo debit card. Making running balance a lot less convenient of a way to see high water mark.
It’s such a common reporting requirement it would be nice to have it just shown in app.
Fair enough if you’ve only got a few transactions. Even then I generally find the CSV export option quicker and more certain (I don’t worry I’ve missed something). But understand this might not be the same for others. Wouldn’t scrolling through the pulse graph work in this case?
You don’t need a stamp, it’s freepost.
Lack of CASS was annoying.
Lack of Apple Pay and paying in via atm’s (which I can do via Santander and it’s occasionally been a life saver)