I like this idea.
I like this idea: reduce the overall balance with a lump sum and Monzo can figure out where to put it. You can do this with loans (pay early is capped) and reduce monthly payments.
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Ive been posting a bit much today so this will be my last paragraph! (I promise)
I was thinking of some of the ways Monzo Flex could be enhanced/improved. A lot of discussion in this thread has focused on the value of paying the first flex instalment up front as it provides opportunity to consider the affordability of adding further transactions. I feel that reflection on affordability requires a holistic view of the total costs of Flex and there’s some information that is not easily accessed/visible. Key information that can be found within each individual plan but is omitted from the overview is total cost of credit against outstanding balance (interest). I feel a visible label showing the total interest owed would be a much better metric for weighing the pros/cons of flexing further transactions in my view (I appreciate this data is dynamic and influenced by user choice such as adding a plan/clearing plan early etc).
The simple solution might be to add a statement quarterly/monthly/bimonthly/annually for Monzo Flex (if this feature already exists great, where can we find it?) that explicitly details outstanding balance for the statement period, number of plans, interest accrued/applied to total balance etc… I am currently building this macro-level information manually in excel - my existing account export is helpful for tracking/categorising every transaction but it lacks the top level detail I have described.
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Does anyone know, or is someone able to tell me, if a friend books a holiday, but I pay my share via flex while not being the lead name on the booking, is it still protected under section 75?
Or would I need to be lead on the booking?
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That’s a very interesting question. I’m interested in the answer too.
I would assume, yes. In principle it’s met the pre-requisites for section 75 protection before you delve into those complications. So Monzo would be liable for all of it. I don’t know what if any difference being the lead passenger makes. Hopefully someone can answer!
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It would make sense to be covered, but because I’ve not essentially purchased it and don’t remain liable for the holiday balance, the lead name is, I think that’s where I struggle to understand.
Then again, I am benefiting from it too 
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You should add your name to the booking as one of the attendees, even when not lead booker.
As long as overall booking worth is more than £100, and you paid any amount of it with credit card it should be covered.
Note that the whole booking is covered. I managed in the past to get the full amount back via section 75 for direct booking. Which was for myself and my friends.
Please beware with 3rd parties. For example my friends cross Atlantic flights were not covered by section 75 because they bought them via travel agent, rather than direct with airline (as in there were 4 parties in this case, you / credit card / agency / airline). In this case do ensure you use UK based ATOL protected travel agent.
(Or in general travel agent based in your country of residence, or at least the country your trip starts from)
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Apologies, I will on the booking, other halfs dad is booking it, I just wanted to generalise. But I’ll be paying my share, and may just pay £100 on flex to cover the full booking.
His dad doesn’t have any form of credit other than mobile and mortgage.
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As long as you have paid the money directly to the merchant or agent then I would imagine you are covered under section 75 - its an instalment and is protected. My friends and I used to use a local travel agent to book group holidays and short weekend trips and would always pay our instalments over 6 months -our local agent went bust I got my money back.
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I did ask the flex team today for a solid answer if they knew, but I’m sure it’s as most accumulated to, it’s fine for cover.
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Today I received this message from Monzo via the app.
*Hi *
We had a problem while processing your Monzo Flex payment
Your monthly Flex payment on 1 August was £25 less than it should have been. This was due to an error when you made an extra payment.
We’re really sorry about this. We’ve fixed the issue so it shouldn’t happen again.
Don’t worry, this error won’t negatively impact your credit score
Your monthly Flex payment is below the contractual minimum because of the error. Under the terms of the agreement this is considered a missed payment, even though it wasn’t your fault.
Rest assured, this will have no impact on your credit score. We’ve also sent £20 to your current account as a gesture of goodwill.
If you miss your next payment, we’re required to send you a letter about it
We’re legally required to send you a Notice of Sums in Arrears (NOSIA) letter if you miss two monthly payments in a row. So if you miss your next payment, we’ll need to send one.
If you receive a notice, we’re sorry if it doesn’t sound like us. Some of the wording is legally prescribed, so we can’t change it.
If you have any questions, please get in touch and we’ll do whatever we can to help.
The Monzo Team
Although I was initially worried and confused, the team has been very helpful. They acknowledged the issue, communicated it clearly and in a transparent manner and corrected it.
Happy with the whole process. Well done 
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did they report it as a missed payment then?
This was their followup:
Good afternoon 
I’m sorry for the delay. We’re experiencing a high demand for support at the moment.
Sorry for the confusion but this wasn’t to do with any one transaction for Flex but was your full monthly payment that was collected as less than it should have been and your monthly payment is made up of all your transactions on flex.
As mentioned above in terms of reflecting as a missed payment it is only in the background of being contractually behind but wont appear on the system or on any credit file reports to stop any impacts to yourself.
Let me know if you have any questions, otherwise I hope you have a great day 
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Good to know they have resolved without detriment to you.
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I want free money 
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No… while it was a missed payment based on the legal definition - in our system it wasn’t a missed payment - legal wording is dumb sometimes.
And even if it was we would have made sure to suppress the reporting of the missed payment to the credit bureau since it was our error and not the customers.
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It does seem a tad unfair then that the next payment missed starts the letter process, effectively one “strike” has been removed from the customer through no fault of their own.
I know it’s the legality of it all, but it doesn’t seem very fair.
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The interesting question is what happens if @the_chez misses two payments in a row now.
As in, if they miss the next one, get the letter, and miss the next. Will Monzo’s error be taken into account on the ‘third’ strike or will it result in account sanctions/debt recovery. Whatever that step is for Monzo.
It doesn’t seem very fair in my opinion. If its Monzo’s fault then they should cover the shortfall as good will so that the account isn’t ‘officially in arrears’ as their software made the mistake. Even asking for the outstanding shortfall to be paid would be preferential in my opinion.
I personally would push the complaint further as @the_chez isn’t technically in the same position as they were in before Monzo made the mistake.
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What you say is correct however given the circumstances, where it’s not really a missed payment but it will be registered as one if it happens again (fault of my own or not), I’m personally happy how my issue was handled.
Now if this happens again, Monzo being at fault, and we have to trigger the strike letter etc. then it would be a different story.
A good question would be how long will this First Strike be valid against my account. If it’s for an unlimited time then it would be considered a handicap due to Monzo’s fault.
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It’s just for your next payment, so you in all likelihood will be fine.
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