Sure but that doesn’t mean we should be aiming and pushing for monzo to be the best at everything they offer.
Cost is only one variable considered when setting limits. There are a number of other financial crime reasons that have a far larger impact on limits.
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Hopefully you might consider increasing the current limit?. £100 really isn’t much especially in 2019, and not a financial crime limit. Even doubling it would make the feature far more flexible.
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Fair enough that Monzo don’t want to raise the monzo.me limit too high due to the cost and financial crime reasons, but I do think that £100 is too low.
A limit of £250, in line with Starling, would be useful.
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What about dozens, monese, revolut?
They all have payment request/topup features with much higher limits. Revolut even lets you top up with credit cards.
No idea how they all sustain the costs!
100%. It took me a while on this forum back when to find out there’s also a rolling monthly per card limit of £500. That info still doesn’t seem to have made it into the app or help.
To be fair, all the above providers are also terrible at the info on limits and so on.
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All prepaid cards
I’ve never understood the importance of Monzo.me. For me it’s more hassle than it’s worth.
Whenever I send someone who isn’t on Monzo a Monzo.me link it always gets questioned. This is then followed by “can’t I just send it via bank transfer”.
If someone is on Monzo they just use the nearby friends feature. Or I bill split.
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Agreed.
Having said that, I have found a use for it more recently as a means of collecting remote sponsorship money for my son. Debit card payments are apparently more attractive than bank transfers.
Off topic, I do find it quite sweet that some people think their opinion on what Monzo can and can’t “claim” carries any weight whatsoever. At what point did people get so engaged as to think that any of us are qualified start offering advertising advice???
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Obviously it can be increased, they are just refusing to do so.
Starling does £250. Pingit does £500. Dozens does £1000.
Last I checked it was £500/jar/week on Pingit?
I sence Monzo is aimed at people that don’t have that much money. I couldn’t pay my tax bill recently because of the daily transfer limit. This is why I keep my old bank account open and only use Monzo for bills.
Why didn’t you ask them to raise the limit temporarily to pay your tax bill?
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According to Monzo’s website this takes several hours, moreover, I shoudn’t have to. I made multiple £10K transfers from my Nationwide account instead. Monzo want cash reserves so they can lend and make money, but these are the type of restrictions + £100 monzo.me limit that prevent people from using it as their main bank account.
I think you’re way off track there, especially if you’re using Monzo.me as a basis for your speculation. It was originally a new thing from Monzo to help you get payments from friends/family etc easier. The nature of the way it works costs money as I believe it is the equivalent of buying something online, just in this case Monzo are the merchant, which in turn means every transaction through monzo.me costs them money which i also believe is a % of the amount sent, someone more qualified then me may elaborate a bit further.
Maybe the fee for a £100 is the max Monzo are willing to absorb themselves.
That’s my understanding of it anyway.
Revolut has some dynamic limit.
They all have or have gradually introduced restrictions over time though.
Starling now only allows “UK debit cards issued by a UK bank”. Pingit is the same.
Dozens doesn’t allow Curve or prepaid any more, whereas it did to begin with.
This was the reason they cancelled direct debit card topups. At the time, Monzo said a small number of users were also accounting for a disproportionate share of the costs. That was probably because some people were using Revolut or Curve or some other method to top up with an underlying credit card for cash recycling…
Can’t say I’ve ever used Monzo.me
Whenever I’ve mentioned it to someone, it gets debated for ages and ultimately they’d rather just pay by bank transfer as that’s what they know and trust.
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That doesn’t sound like a good thing.
I hope your account doesn’t get compromised as that’s some serious lack of security if they allow that without any questions 
That’s ironic, to be polite, since they pay more if a person makes 5 transactions of £100 compared to a single transaction of £500. The reason for the limit has to do with something else (probably AML) but in this day and age, £100 really is too little.
Can we have a higher limit, please?
Think they set the limit at £100 is because they do not expect many people to use it, it only takes a little longer to do a bank transfer the first time as you have to enter all the details, but once a transfer has been done, it is saved, then for future transfers, click on name, enter amount then transfer.
Plus there is a £1k monthly limit for Monzo.me
From what I gather, it costs Monzo money for every transaction, if it costs Monzo money, it costs us money, and if what people are saying is true with only the minority of users using it, they should just scrap it and tell people to just use bank transfer like people with other banks
Most banks do not have a url for transfers and rely on bank to bank transfers, and I suspect the majority do bank to bank transfers rather than the Monzo.me link, more than likely because of the monthly limit
For example, I have regular monthly saving accounts with several banks, if I relied on Monzo.me to transfer them when each one matures, I’d be maximising the 1k limit and still have to do bank transfers, or use Monzo.me every month maximising the 1k limit that month which would mean that link would be useless for other people to transfer money to me