Thought we could have a place to share ideas on how to integrate Monzo with American Express cards. I’m sure a lot of people have a Monzo current account but still put most of their day-to-day spending on an Amex credit card, so this might be quite useful.
One thing I’d love to see is an ‘Amex pending’ section in Summary - some way for Monzo to know what’s pending on your Amex, and take it into account on the Summary tab. That way I can see more accurately how skint I am that month.
Another would be a way to pay off my balance automatically every day/week/fortnight etc (of your choosing). I don’t know whether this would be Monzo side or Amex, but I’m not keen on waiting til the end of the month to pay off my card, I’d rather do it as often as possible - that way the Spending ring still gives me an accurate picture of how much money I have.
What would you like to see from an Amex/Monzo integration?
I think having a pot that is integrated with my Amex account which shows a negative balance as I owe them money would be good. The ability to categorise those translations when clicking onto the Amex pot would also be nice but not sure if that’s doable.
I guess this kinda fits into the marketplace idea Monzo have.
I keep all day to day spending on Amex and use Monzo as my main current account. If this could be implemented as one of the marketplace integrations it’d be excellent.
I have the Tandem card and their app integrates with Amex, however thats a credit card but useful as you get a running total of how utterly skint you are!!
True! Although you’d lose all the legal protections that come with credit card purchases. Plus credit score improvement. And cash back is good, but Amex Rewards are much more flexible (hotels, flights, Amazon vouchers, etc).
I can totally see the appeal to cashback but it means Monzo will have to take a hit on an income stream. I’d rather Monzo spent this on creating a killer core current account banking product in the short term, with a focus on groundbreaking frictionless marketplace integrations @anon91821566, and further down the line working to create a big, profitable, beautiful transparent bank of the future.
Yes ! @robboadam, and you have the ability to use points to pay for goods and services, or knock some cash off outstanding balances.
Amex operate in the reward/cashback space very well; they provide really damn fine customer service, excellent account management tools and pretty excellent perks so the Monzo value add would have to be substantial for me to ditch Amex.
I do see scope for Amex to offer Monzo customers targeted cards through Marketplace though, which could then be integrated into the core banking platform. Hot Coral Centurion anyone?
Definitely - I can’t see myself dropping Amex for Monzo-only any time soon. It’d be like dropping a high-interest rate savings account for a Monzo Pot. It just doesn’t make sense.
But I love the new Spending tab as well, so the major benefit for me (of an integration) would be a way to take my Amex transactions into account in that tab.
Not nessaseraly, depends how the cash back works. Could agree that certain retailers pass discounts onto Monzo, which show up in the app and are passed onto customers therefore not be at monzo’s Expense.
I agree with @robboadam and @Jackcrwhitney, however Monzo decides to do it, it would bring the bank to a whole other level compared to others. It would be a definite game changer for Amex card holders.
I wish Amex had support for IFTTT- set up an automation that an Amex transaction results in the same value being moved from my Monzo balance to a pot. At the end of the month, move the pot back and pay the bill!
Feels like this is so close to being possible right now. Emma can integrate both, so maybe Emma could act as the trigger, rather than IFTTT?
what about integrating with truelayer? OB api/credential sharing would give monzo read access to transaction data which could be factored more accurately into budgeting and spend categorisation.
my Monzo card and account
