Introducing Monzo Flex – a better way to pay later 🚀

I’d love for the paid off flex transactions to dissappear as soon as paid off, currently I am having to wait around 24hrs…

Nice! I just checked after seeing your post and was able to do mine from £1,750 to £2,500. I’m aiming for £5k for both me and the wife (she currently can’t get Flex, though she’s only had Monzo for about a month) as I like to stay under 50% utilisation and our monthly spend is usually around £2,500.

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Ok so I decided to ask the wife to check if she can get Flex now, since my limit was finally increased. She was approved, and amusingly given a credit limit of £3,000 (£500 more than me, while having 1/5th the income and a one-month-old Monzo account! :laughing:)

I’m pretty happy though, we can finally both move all our daily spending to Flex, moving is one step farther from NatWest and one step closer to being full-Monzo.

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I just got an increase from £3k to £8k :grinning:

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Did you all accept automatically offered increases? Or were these all applied for increases? I see that automatic increases are a thing now with Flex.

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I had accepted the automatically offered increases, but I manually asked for an increase this morning (which tells me they won’t auto-up anyone’s limit willy-nilly)

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It was an automatic increase offer

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Is there a button to turn auto increase offers on?

Thanks :pray:

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If you untick this option, you get any credit limits automatically?

Imho that is poor UI - there is no indication that it does that.

Shouldn’t it be tick this option? If I untick it, Monzo won’t notify me any eligible increases? :face_with_monocle:

Can you not schedule a transfer from a pot to your current account? I was hoping to put my monthly flex payment in a savings pot and schedule a transfer for that amount from the pot to my current account on the day before the payment is due…

This would be a nice feature. Only option currently is a standing order from a savings account at a different bank into monzo

Ah, for some reason I thought it was allowed. Oh well, I’ll just set a calendar reminder to move the amount the night before I guess…

Are those few p worth your efforts?

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Is the intention to earn interest on the balance or just to set aside the balance to budget until it’s time to pay?

I mean it would be a few quid, not pennies… So not huge, I agree, but it would cover a sausage roll!

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Interest is the goal, I just don’t like huge balances sitting in my current account when they could be earning interest. I put the payment in a pot and just made myself a calendar reminder to move it the night before.

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Keep the savings elsewhere at a higher rate and set that transfer to Monzo.

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Now that would only be pennies, and not worth the hassle of inter-bank transfers (in my opinion).