Joint Account - charges?

Hi

Me and My Fiancé have set up a a joint account for a wedding funds. I just wanted to check there are no charges on the account for making large transactions/Payments (in the UK).

I don’t believe this is the case but I just wanted to check.

No fees. But you will need to get anything larger than £10k approved.

Hi @ChrisDoyle & welcome :wave:

You can transfer up to £10K per day in up to 3 different ways - Bank Transfer, Card payment and Monzo-to-Monzo account and also up to £400 ATM withdrawals. So if the recipient had a Monzo account and could also accept card payments and part-payment by cash, you could, in theory*, pay a total of £30,400K in one day, split across 3 payments of £10K (bank transfer, card and :monzo:-to-:monzo:) and an ATM withdrawal of £400 cash to hand over.

*I’ve never tried it to the max, so can’t confirm 100% that it is doable. I have done a payment of £20K in one day though, using bank transfer and card payment - that worked OK

Joint Account limits:

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Hey folks, decided to resurrect this old topic as my question is kinda similar.
I wanted my wife to have a duplicate card from my personal account but apparently it is not possible so we decided to give joint account a try. Now we have a joint account but I’m wondering if there are any hidden fees for her as she doesn’t have any income for her personal account. Maybe it makes sense to freeze her personal card if it is not used?

There aren’t any fees for joint accounts. Best thing to do is check your limits in app (search for it in the help section) as this will outline everything and how much you have remaining.

It makes sense to freeze the personal account if you’re not going to use it too :slight_smile:

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Thanks mate! I’ll give it a try and will hope for the best, I was concerned about the monzo service fee, I think if you don’t have a month-to-month income and at least one direct debit they can charge you for keeping your account but I hope that having a joint account in active use will do the trick.

Because of the varying account levels available, Help isn’t much help anymore.

The actual Limits and allowances for each account type/tier are shown by selecting the Carousel view of an account → ‘Manage’ tab → scroll down to, and tap on ‘Limits and allowances’

You can also see your ‘ATM allowance’ there too, along with other account management features.

They don’t charge you for any account for just having it open.

Spending/using it more gives you bigger allowances.

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