Introducing Monzo Flex – a better way to pay later 🚀

In the Which? article

I don’t match the “lending criteria” for getting a loan from :mondo: so looking forward to finding out that I might not get Flex either

Looks a great product though

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£500 - £1k is responsible for a credit product. So at least your not going to end up in so miuch debt it couldnt be cleared quickly if anything happened

I’m not eligible for a loan but I was able to jump onto the Flex train :train: (albeit for a small amount :innocent:)

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Not built just yet but yes you’ll be able to. We wouldn’t do another hard search if you did.

Yes - just once when you first open Flex.

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Theo! This looks amazing - how are you feeling now you’ve shown it to the world?

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I don’t think so - it’s pretty far below the limits I get offered elsewhere, and I think there was some indication in the copy of it being low because it’s a beta product.

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I believe it’s capped at 1k currently?

I think that’s standard for fintech! Aversion to risk and all. I wouldn’t expect fintech to offer me the same absurd limits I have on my credit cards.

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This is cool. Going to set a low limit and give it a try when I can.

Darkmode when

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Thanks for the comforting words

If it manages to at least be high hundreds for me then it would totally replace PayPal Pay In 3 for me, so here is hoping!

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It’s an early release. Obviously because there’s a day of 4.0 madness coming.

(There will be no more releases today).

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While I have always adopted a “if you can’t afford it, don’t buy it until you can approach”, this product looks intriguing to me.

Launched just before Xmas too, may help some spread the cost over three months instead of one.

Personally, I divide my Xmas budget by 12 and put it in a pot each month ready for Nov+ spends.

Let’s see where the reviews lead, once people use the product :thinking:

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BNPL Pot. Add £x

Flex Card - Set to come from BNPL Pot.

Then I add/remove from the pot if I need to, as long as there’s enough to cover the payment. I like it!

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Absolutely buzzing - the team are all in the office in the same room together all of today - got in early this morning to set everything up.

Been listening to this.

Also i was quite happy when i secretly name dropped Flex in my AMA:

Along with this I think borrowing needs to be more flexible - Once you’ve set up a loan (say for 5 years) you have the same monthly payment every month for 5 years. But this isn’t how peoples finances work - some months you may want to pay a little more if you get a bonus, some you may need to pay a little less. It would be awesome if you could flexibly pay a little extra seamlessly or adjust your monthly payment (within reason) to adjust for these fluctuations.

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Enjoy! This is the super fun bit. :man_bowing:

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When will it be available please? So exciting!

Depends when you joined the waitlist :wink:

We’re aiming to start from today!

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That is not what I expected it to be. Where’s @jackcully!

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Will the flex virtual card have the same design as the flex logo? Coz that would be cool

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