Exactly this by the looks of it:
Edit to add that this suggests it won’t go through if you don’t have enough in your current account for the first 12 month instalment.
I guess that gives you about a day to then move that money out if you really are desperate to default on the agreement.
No wonder they get away with so much 
. Glad I’ve never used em
This was more what I was interested in. Good to know monzo have precautions in place for all the people out there trying to game the system
It’s ultimately not too much of a bad thing, however, peoples reckless behaviour and ease of access to credit is what has caused the uproar tbh.
Then of course if something went wrong you can’t complain, but this opens a big can of worms of who you should actually complain to: the place who provided the finance or the place who delivered the goods - this is where regulatory standards need to apply to simplify.
It’s a common issue or the laws and regulations being too outdated I suppose. Monzo doing it the way they have done it protects them because flex is regulated right?
I imagine by the FCA?
100% regulated, and this makes them the first to do so 
Covered by the same rules as a credit card, though not to get the two mixed up as Flex isn’t a form of credit card - though I hope this comes next 
Out of interest - why would you need a credit card alongside Flex? or put another way - when would you use one vs the other?
Do you reckon the virtual flex card is Mastercard debit or Mastercard credit
Flex is good for fixed period products let’s say PS5 due to fix cost over time, the credit card for protection and to have everything in the same place - purchase and pay back in full.
I know they both come with protection but flex comes a little more complexity such as requiring x amount available in the first instance which may not be practical if unexpected expense occurred - couldn’t simply cover that directly with flex.
Cash back - that would be my main driver
I can also see that a CC might be preferable for anything that puts a hold on money with little intention of taking it (some pay at pump apps, car rentals, hotels, etc)
And perhaps any purchase where you’re expecting to get the money back from another source (company expenses, booking flights/hotels for me and my friends)
And anything where I might want s75 protection - perhaps you could offer a pay in 1 option?
The only time I’d want a credit card was if I was buying something bigger that I couldn’t afford to Flex in 3 payments and didn’t want to pay interest on.
I could get a new card, 0% for 18/24 months or something and pay it off like that.
But getting a new card because I want a new xbox, office chair or Sonos isn’t practical but I can afford to pay those off in 3.
I will definitely use Flex more than a credit card, but I’ll still want the use of both.
Note - I mostly wrote this before the above replies…
But why if it gives you zero benefit over making the purchase using your debit card? Potential reasons I can think of are:
Note: I’m assuming you don’t actually want to borrow money and will pay off in full with £0 interest - I also haven’t put S75 as a reason because I’m assuming that purchases over £100 can go on Flex…
Flex probably won’t be able to compete with 0% for 18/ 24 months but we’ve thought about if/ how it can cover some of the other points. 
I think there’s a convenience point too, @TheoGibson. With a credit card you can just use it for any value transaction, knowing you’ve got more protection for the more expensive transactions, and knowing that you get an interest free period.
I’m using Flex, but very selectively because I can’t just set it as my default card and on the 0% option and forget about it. (I recognise there’s little commercial benefit for you in allowing me to do that. Unless it was perhaps a Plus perk?)
Very true! This is a good point!
If I had the option I’d probably always use a monzo credit card over Flex.
One reason is so that I wouldn’t have to pay anything at the time of purchase.
99% of the times that I buy something on credit it’s because I don’t want to be paying anything there and then with my money.
I’m fortunate enough to have savings so if I wanted to pay with my own money now I’d have just done that with my debit card.
Flex requires me to be more “involved”. With a credit card I’ve usually got a month or more before I have to start taking action on the admin to avoid fees or interest.
Finally, what I use a credit card for most, pre auths and holds e.g. when hiring a car.
Flex is good, but a credit card is “easier” and less hassle.
I totally understand that I may not be the target market for this type of product, monzo Flex is my first ever BNPL product (excluding credit cards and loans), I just think it adds complexity to something that is a lot more fluid with a credit card. Some people probably see this more rigid approach in Flex as a plus though that can help stop snowballing debt.
Different strokes for different folks, so with that in mind a credit card will be superior for some users and Flex isn’t a magic bullet that does away with that want or need.
PS. I don’t hate Flex, and everyone who worked on it should be incredibly proud with what they’ve produced. I just don’t think it’s for me.
I forgot this. This is really important!
Tymit works like normal credit card by default.
One can split any payment across the next 3 billing cycles for free. But by default it is pay in full in the next billing cycle.
One can also split into more than 3 billing cycles with interest charges.
But it doesn’t take any amount/payment instantly.
So I can’t see it explicitly stated in the exclusions, would I be able to pay a HMRC tax return bill via flex ? I have a small self employed tax bill to pay which is somewhat unexpected so splitting would be most helpful ha!
the HMRC website says you can’t use a personal credit card, but flex isn’t a credit card per se is it ? and you can use a personal debit card…
I’d be surprised if it worked tbf, only one way to find out though… Give it a go 
It’s got a credit card assignment with MasterCard so it would probably be rejected if you used the card
