bit sharper
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I was about to jump in the shower so didn’t have time 
Thanks though, easy to differentiate.
All I can see is the River Thames.
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I have the same question…
The feed icon after I’ve expressed interest keeps flipping between the Thames icon and the Monzo logo for me…
Buys @TheoGibson a hard hat.
(On my credit card because no Flex yet).
Another question for @TheoGibson if I may?
What do you do about authorisation holds? Say a car hire company takes £1000 as deposit, does Flex know that and decline it? Or can I set up credit and then it falls away when the transaction isn’t presented?
Edit: it must have been super fun thinking through all this stuff and working through the edge cases!
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Just for some clarity.
If you pay for something with your Monzo debit card that’s over £100 and then retroactively move it to flex a few days later, does the purchase then benefit from section 75 protections or is it treated like a money transfer?
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RE: The waitlist…
Is it first come first serve, random or your “mixed criteria” formula thingy?
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Can you confirm if automatically moving customers to the 12 month term (on which interest is payable) after the end of the next working day, is in line with FCA rules?
Also, can you confirm in what circumstances Section 75 protection will apply and when it won’t with Monzo Flex?
Looks like it’s dependant on when you joined the list
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Presumably Theo isn’t going to say that Monzo is in breach of FCA rules here.
Your question seems to suggest that it might not be, though. Could you expand on why you think that?
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“Nah mate, we thought we’d ignore those for lolz”
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I’m sure it’s against FCA rules and they were going to do it anyway, thankfully someone on the forum is here to save the day!!!
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The Which? article states Section 75 protection when using Monzo Flex but on Twitter a Monzo reply says no Section 75 protection. Can you clarify please?
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Do we do joint accounts?
Seriously though - we have thought about this and there are 2 levels:
- Get Flex with your joint account holder, apply together and have one Flex owned by two people.
- Each individual can have their own Flex account and you can Flex purchases that have been made using your joint account.
We don’t support either of these things yet but i’d expect we get to number 2 in the next few months - number 1 will take a bit longer as there’s a lot more complexity involved.
Not going to go into this - TLDR; it’s a wormhole of complexity and would take me way too long to answer well. You’ll be able to make the car hire purchase though and we’ll take the first payment on auth (or technically once you select a 3/ 6/ 12 month term). We’ll then start charging interest once the payment has settled. If it’s refunded at a later date then we’ll “glamorously” solve this.
No - but you’ll still get the same protection you get on a normal debit card transaction.
A bit of both - based on: when you joined, how engaged you are with Monzo in general and whether we think you’ll be eligible or not.
I’m not sure which rules you’re referring to exactly but as a regulated bank we’ve been meeting with the FCA & PRA about Flex a couple of times a month for the last 4/ 5 months so rest assured that every little detail has been run past them 
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Thanks, Theo. This feature plus the active responses such as yours from the team have made me genuinely excited about Monzo once again. Top work.
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Whooo I think I tick all those boxes and I was on that list pronto 
Hopefully this afternoon I’ll be taking the feature for a test spin 
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Well that’s thrown a spanner in the works! They need to be communicating this stuff better and with more clarity, less contradictory information.
Edit: quoted the wrong person initially.
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We’re in communication with the press to get articles changed where they could be miss-leading - sorry we don’t have ultimate control over this
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