Is Monzo your only account

Monzo is my main account for salary, spending, direct debits and savings pots (would have used Marcus but can’t for tax reasons).

Also keeping some money and have a CC with Nationwide earning a decent interest rate while also being instant access.

It is my main account but have a credit card and a legacy visa card as well

I don’t think this will have been down to Monzo as they don’t provide a payment gateway.

As you mentioned it will likely be due to high traffic on the website, through the payment processor or a blip with your internet. They just say “contact your bank” as a default as neither the processor or the website you’re buying from can do anything to help if there’s an issue such as payment being taken twice etc.

If you’ve made up your mind prior to this then that’s fair enough. Just thought I’d mention it :slight_smile:


Thanks for that. I hadn’t made up my mind, as such, but was on my way to doing so. I doubt it was high traffic, as there must be fewer people completing transactions once there are only a few slots available, but I take your other points. The ins and outs of payment processing are a bit beyond me, though I’ve learned a lot on this forum.

I’ve ben approaching the conclusion that the only thing I really like about using Monzo is the instant notifications (and, prior to the rules changing so that all banks now offer it, fee free cash withdrawals in the EU). All of the upgrades Monzo has done since becoming a bank have meant nothing to me and I don’t think I’ve personally benefited from any of them.

I’ve seen Starling introduce new features every now and then and thought, “Hmm. I hope Monzo do something like this.” But they’ve shown no inclination to do so. I sometimes feel that someone at Starling monitors this forum for ideas and tries to introduce them (Euro accounts, cards tied to pots, increased contactless until chip and PIN limits etc), whereas Monzo appear not to have the capacity to change quickly.

One thing that’s keeping me from leaving Monzo, is that I like Monzo. It’s like having one of those friends who is always letting you down, but you stay friends anyway.

If I don’t do it soon, inertia will stop anything from happening. That’s probably why I still use Monzo now.

Thanks again for your informative reply :+1:


when I last looked the other week it wasn’t obvious that other banks were doing fee free ATM withdrawals in the EU, nationwide and bank of scotland both charge 2.99%

A wonderful analogy!

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I’m experimenting too. I have alot of different fintech cards and I’m still trying to find the one that is everything I want in a fintech bank.

I don’t think this is going to be their new strapline anytime soon :flushed:


Having been with Monzo Bank for several months.
I would like to share just how good this bank is
Compared to other high street banks.
I was a customer at Barclays for years and typical high street banks embraced local closures in the small towns a villages across the UK.
And this being the reason I opened my account in the first place due to a local branch in my village.
Everything changes and I get that, but when your village had 5 bank branches close down within months and a post office that I can’t get to due to my job (shifts).
Then I embraced the idea of online banking only.
I was doing it anyway with the main Street banks.
I had tried a few other online banks, before opening my Monzo Account.
No fees if you miss a payment or make a late payment.
Gives great advise on savings and paying bills.
Great app on (Android) although before last update could be a bit temperamental.
But other than that no problems.
Used Monzo chat a couple of time to get things resolved and that experience was positive.
Being delt with efficiency.
Ok this bank does not have branches bit do we really need them? I don’t think so.
You round up your change on purchases and this mounts up pretty quickly.
No fees on missed payments ect.
Could not lose the basic bank card if you tried
Strange colour, but it works.
Overall I feel this bank suites my needs and does everything I need it to do.
And now I see ads for main Street banks playing catchup with the same ideas Monzo are currently using.
Overall experience is 10/10
Keep up the good work Monzo

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With all the “experimenting” going on, maybe a thread about how folk are getting on with their various accounts is in order :thinking: :thinking: :thinking:

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No worries :smiley: It could have been Monzo but you generally find it has gone wrong somewhere else in the chain before it gets to them as they’re the last point.

I had a look for a flow chart that explains it and this is the best I could find.

Each one of the third parties in the chain likely have their own processes then it has to go back up through the chain again. So if anything goes wrong or takes longer than normal it will just decline to be on the safe side :slight_smile:

Now I just need to check out Starling based on what you said… :thinking:


A great question and I really hope the answer for most people is no.

Not because Monzo is great or poor, but for any individual, putting all your money in one bank is putting all your eggs in one basket. I love Monzo, wish they would do custom categories and channel some transactions to pots, nonetheless I am a fan. But it’s not my only account. As much as I love it, Monzo could change, or they could get hacked, or I might lose my Monzo card.

For all sorts of reasons and in case of emergencies, Monzo is not my only account. It is certainly my main account for everyday disposable cash spending.


I’ve had a letter from 2 legacy banks to inform me?

maybe they just havent updated the fee documents on thier websites yet

Nationwide have, and I can confirm that it is definitely 2.99%
(from June)

yeah i saw @Anarchist seemed to be suggesting that all banks had to offer fee free cash withdrawals.

Nationwide are free.

I also have the Flex Plus account (for other reasons) so transactions would be fee free as well.

ok so theres no cash fee, but in the example shown theres still a £2.44 charge for withdrawing 100EUR yes with FlexPlus theres no fee, but that account is £13 a month

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Also taken from the Nationwide website:

We’ve recently made changes to our charges. From 3 June 2020 we will increase our Non Sterling Transaction Fee from 2.75% to 2.99% for FlexAccount, FlexDirect and FlexBasic debit card purchases and cash withdrawals in a foreign currency.

So unfortunately, only the FlexPlus paid account is fee free.

Back on track though, credit to Monzo for removing their fees :grin:


I’ve just updated the order, and had to check out again. I mistakenly selected my Monzo card to check out (on a computer this time - last time it was on an iPad) and exactly the same thing happened.

I’ve decided to move all my daily spending (such as it is, these days) back to my credit card where I get a tiny bit of cash back, and reserve Monzo for cash withdrawals and foreign spending and withdrawals. I doubt I’ll miss the instant notifications too much as I usually use Apple Pay.

I still feel quite sad about it, though.

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