I think it’s needed to correct someone pointlessly bashing and being wrong.
How dare you bring reason into the discussion when there’s a chance to be negative regardless of the facts!
I thought the same as you but then saw a post from a Monzo employee that stated that they were.
Or at least I think I saw it as can’t find the blummin post now
I’d highly recommend giving the team at Key Solutions a call. They’re totally independent, and full market brokers. This means they look for the best offer across all banks, rather than just a small minority they work alongside.
Their services are free - as they should be, given mortgage brokers get a hefty kickback from introducing you to a bank.
They’ll answer any questions you have, make you feel at ease, and do most of the heavy lifting for you.
There’s no obligation to use them after getting a feel for what they’re like. I wouldn’t use anyone else and have made numerous referrals to friends and family who’ve all agreed on their service
You can ask Monzo in app, might take some persistent but they reveal it. I’ve done it myself.
The monthly income and outgoing figures are used to create an estimated salary. It done by all banks not just Monzo.
If you ask Monzo nicely they’ll give you a nice PDF of what TransUnion estimates your salary to be.
It’s used in the loans/overdrafts sections so when they ask how much your salary is they compare and depending on the delta it may count against you.
The monthly income/outgoing and salary aren’t included in any credit report, but should be imo.
Edit: somewhere in these Monzo forums I’ve posted screenshots before
Fair enough, I had the wrong impression/timeline.
Barclays (& other banks) should accept your verified Monzo bank statements for your spending. They maybe reluctant as it’s pieces of paper but ask for a more senior person if they do a “computer says no”. You will first of course need to ask Monzo to send stamped paper bank statements to your address.