I mean I think someone said it was sad and someone said it would mean a better option elsewhere so I wouldn’t say it’s a large overreaction. Just a reaction.
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That’s a shame but not really a deal breaker. Still a great product overall.
Me too what a shame
I was using it a lot but won’t now which surely will reduce income for Monzo as they make more on credit card transactions vs debit cards?
I’m not sure setting small purchases to 3 installments is good financial management, whether you are struggling or not, so I don’t see this as a negative. People can forget themselves and end up with £500/month payments which may be unsustainable for them.
Why split every small payment into 3? It makes it so much harder to keep track of your finances.
I won’t use Flex any less. In fact, I have tried to use it as my main spending credit card on occasions, and it works very well.
I’d say the only slightly negative point about Flex is that it doesn’t quite ‘behave’ like a real credit card. For all my adult life, I am very much used to the credit card model where you always have a minimum of 4 weeks until you need to pay for any transaction, as even if you pay near the statement date, the payment date is still about 4 weeks away. With Flex, if I pay just before the ‘payment cycle’ ends, it’s 2 weeks.
I had to set my cycle to end on the 31st, so that purchases from the current month can always fall on the following month, after I’ve been paid, to simulate a real credit card as much as possible.
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This.
Monzo will make more because it’s no longer interest free but I imagine many will still use it to get by.
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For my tuppence worth:
- Only a small subset of Flex customers were splitting small purchases - that was the rationale for change 1 year ago.
- It’s an even smaller subset of customers now because it’s been over a year of growth for Flex for Monzo. Nobody new has had this offer, and some people will also have left Monzo.
- Not being able to split payments doesn’t mean there will necessarily be fewer card transactions. And even if there were, it may not be statistically significant from such a small group.
- Flex is likey to continue to grow i.e. even small losses will be offset by more transactions from other customers.
- They’re already trialling/exploring bringing splits for up to 12 months interest free - which will cost Monzo far more.
I don’t disagree, but it’s become so ingrained for me that I flexed a £4 payment over 2 months this morning. There’s no necessity for it and I’ll probably pay off my Flex, as per normal, a few days before the next payment is due anyway.
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I had a last minute holiday last month, so similar to the above, I used my Flex card for all my spending money and split it over 3 payments.
I’ll likely clear it the following month… depending on how giddy I get over Christmas 
But nice that I have options 
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Exactly this - I’ve flexed anything-and-all from 50p up to £500. Continuously. It’s ingrained. It let’s me flatten credit for the next 90 days without interest on any spending. I have hundreds of transactions each monthly cycle, all without interest and each monthly repayment easily planned and repaid.
This is actually a big blocker for me and one that will kill off ongoing Flex use. Which is probably what Monzo wants given the necessary infrastructure to support it without ROI (for users that use it within the currently offered limits)
Bye Flex 
Plan B: Revolut, as a day-to-day fintech bank becoming more and more attractive btw
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The 12 month option will be interest free, but comes with a monthly fee instead.
Can’t say I’m too bothered as I only tend to Flex more expensive things anyway.
You can still use it like a credit card and get effectively one month free if you choose to.
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Never thought I’d see the day where you say this. 
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Same
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Give me phone insurance and breakdown cover on Metal for a similar price they can have my money.
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Ah yes but I won’t use it at all now for the next year I suspect as Amex rewards give me 5% cash back for first five months and Lloyds Ultra is only 12% Apr should I need to borrow vs 29% on flex
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I think removing the 0% free flex for transactions under £100 is sensible. It is so easy to build debt and flexing over any time period whether interest free or not is building debt. It shows responsible lending.
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This is a massive shame use flex as a daily driver imagine I will switch to other similar alternatives after this..
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Not the case for everyone. I personal do the following:
- All spending on Amex, cleared at next DD
- All spend that cannot use Amex - Flex - split by 3 to maximise 0% - pay full monthy payment.
- Use cash when the above two are not options.
This keeps cash in my bank generating interest and paying zero financing costs.
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Do you not pay in full every month?