Just that the FCA don’t seem to like providers doing things to customers accounts without their specific consent - i.e. automatically renewing insurance or fixed rate bonds etc.
As such, moving customers to a 12 month term automatically on which they would start to pay interest rather than say the 3 month term which is interest free struck me as potentially being at variance to this and the FCA principles on treating customers fairly.
If you’ve considered this, fair enough. I was just curious.
Isn’t Section 75 a credit card thing anyway?
Theo can hopefully explain, but my interpretation is:
Feels fairly straightforward to communicate if this is the case.
(I’m cutting Monzo a bit of slack here as I think it’s only third parties who have mentioned s75 so far).
Yep, but not all BNPL have section 75 protections. PayPal does, but they’re the only ones I’m sure that do. It’s a very onerous process though. All done in writing via snail mail and legal documents to sign.
Just to clear things up on here, are you able to say where section 75 will and won’t be applicable, if at all? Really loses a lot of the appeal to me if it doesn’t get any.
Absolutely love this announcement!
I use a variety of different BNPL which becomes complicated as they all have different stores they work with… soo this is solution that I have been waiting for and would definitely use for sure as is means all in one product, banking and BNPL Thanks Monzo Team and of course @TheoGibson 
Plus the Virtual Card is a nice touch too 
To be honest - I don’t know the exact details and I’m not sure may people do - we got quite a lot of legal advice around this 
If you’re really interested the rules are set out somewhere in the Consumer Credit Act 1974… Yes, 1974
My understanding is that it’s any time you make a purchase directly from an account that is purely a credit account.
For Flex - pretty much this though.
Forcing customers to pay more by splitting it over 3 months could be seen as a worse position.
I imagine it’s in the T&Cs that you default to a 12 month plan if you don’t accept it etc. So, that’s what you’d be signing up to at the point in time.
Thank you! 
Somewhat reassuring and better than no section 75 at all. Will heavily inform how I’ll be using it.
Section 75 for me is to credit what a banking license is to a current account. Very important.
If ever in the future, there’s some way to add these protections when moving a transaction to flex from your debit card spend, please shout about it from the rooftops!
It can do! Klarna let’s you make virtual cards but can only be used one time hence it a name one time pay.
Can they be added to Apple Pay? If so- pretty nice.
Yes, it could. That’s why I would have expected customers to have to explicitly choose the term rather than have a default imposed after 24 hours.
Sadly not. It’s called one time pay so just one time usage
The plot thickens…
I think we need a help article in the Monzo Flex FAQs that clearly outline how section 75 works with flex.
Use Flex = S75
Use normal card and move to Flex = No S75
Exactly this.
Currently discussing this
S75 has an £100 minimum doesn’t it? So a £35 one will never have it. Hence the eligible purchases?
This looks great 
One question - can an unexpectedly large direct debit be moved to Flex, or just debit card transactions?
Just card purchases. We may look into this in the future - but there are loads of additional risks around this that need to be thought through.
