I’m on PIP and want to have an account for everyday spending, I won’t be leaving Monzo as their a loyal brand to me and its not let me down once.
However, I’m planning to open another current account for everyday banking, like Starling or from a high street bank like Natwest.
Trouble is, such high payments being taken out a month (Over £400) would this look suspicious to Monzo. £100 standing order for family rent, £250 standing order for the other bank and some Direct Debits from West Midlands Combined Authority.
Would Monzo ask me questions or will this be fine?
Yeah, it’s just the anti fraud checks to be sure the account being used correctly by the rightful owner.
If I was to deposit, idk £500 for example in one shot to another account, this could raise flags.
I normally have spending usage almost every day, so hopefully as the account will only really be used for direct debits and linked to a Curve card, in case Starling or something is declined it can take money out Monzo.
Normally speaking, what fraud checks look for is abnormal usage. If someone is using their account fairly normally, they generally have nothing to worry about. Depositing £500 in another account wouldn’t usually be an issue for example.
If it was an account you never used for anything, and it got £501.42p into it and then £501.42 was transferred out straight away, though, that might raise flags because that’s just not a normal way to use a bank account.
The amounts are less important really, than just using the account like a normal person which you are
Tbh if you’re not comfortable with Monzo deep down you should have your income paid somewhere else - I’ve been the same recently. I’m paid into Revolut and have had no material issues. But them missing tax returns & my last salary payment coming in slightly later than usual lighted the tiniest bit of doubt - so I just switched the salary elsewhere. Ultimately - peace of mind is the priority with money.