Joint Account Migration Strategy


(stuart brown) #1

Hi,

I’m trying to go full monzo but have the issue that my main current account is a joint account so I can’t yet do the full or partial switch. Hoping to get some advice no the best way to proceed based on what Monzo can offer at the moment.

At the moment both my partner and I have individual Monzo accounts and we are participating in the joint account beta (cards in the post…). Issues / options:

  1. Looking at joint account thread it says that joint account switch is not in scope at the moment so should I apply to my current bank to get the joint account switched to a single account?
  2. If I do get my other bank’s current account switched to a single can I / should I then switch that account to the Monzo beta joint account or can it only be switched to an individual account?
  3. If we move our other bank’s joint account to a single Monzo account how easy is it to move direct debits etc from a single monzo account to a joint account (or even from one individual account to another individual account)?

many thanks for any help!


(Eve) #2

I think @glasgow has actually done a CASS to switch from a joint to a joint account! See this post here.


(Andy) #3

I didn’t want to say anything for fear of getting in to trouble! Yes joint to joint CASS has worked flawlessly for me and others - all payments transferred and balance transferred and old account has been fully closed however I don’t know if there are any technical reasons around why Monzo are saying it isn’t yet and I just got lucky. I guess the main issues are around the screens not having the correct information and potential issues around transferring an account which is in overdraft.


Labs Feedback: Joint Accounts 🤝
#4

This is not possible. The CASS will only work individual to individual or joint to joint.


(stuart brown) #5

Thanks all :slight_smile: How easy once transferred is it to change a direct debit to come from an individual Monzo account rather than a joint Monzo account?


(Andy) #6

You’d need to get in touch with the company you have the direct debit with and ask them to change the account details and sign a new DD agreement - it’s usually straight forward but some companies restrict the dates you can change a DD if you’re changing around the collection date.


#7

Joint - Joint CASS (partial) worked for me too. From HSBC, if that makes any difference.
Oddly I couldn’t use the same process to transfer a DD from my individual Monzo acc to my new joint acc.


(Andy) #8

No that’s correct you can’t use CASS to switch same bank to same bank


#9

Makes sense when you put it like that!


(Kelvin Papp) #10

This is great news… the inability to use the CASS is a pain point for me at the moment in being able to go full Monzo. I’ve been testing for a while with an individual account and was excited at the launch of the Joint Account option - no switching service meant I had to put the brakes on though…

So you just tried the option, and it worked OK?

Kelvin


#11

Yup. I’ve tried HSBC joint - Monzo joint, and my wife has tried HSBC individual - Monzo joint partial CASS, and both worked for us.

Just try it - what’s the worst that could happen? :thinking:

Really hope I’m not getting anyone in trouble by saying this!


(Kelvin Papp) #12

Haha… what’s the worst that could happen? Aside from my money disappearing and all of my regular payments bouncing you mean?! :joy:

I’ll give it a go once we’ve gotten the joint account sorted. We are FIrst Direct, which is a division of HSBC so hopefully no issues :+1:


(Andy) #13

You’re covered by the switch guarantee!


(Kelvin Papp) #14

True, although given they’ve stated it’s not available (and therefore presumably not supported) I’m not sure I’d be able to rely on that :slight_smile:


(Farmer Dave) #15

Anyone tried this recently? Really keen to move over, only want to do a partial as I want to keep the benefits of my old account. Would be Nationwide joint to Monzo joint.

Only current issue is my old account is in my old (unmarried) name, so I need to get Nationwide to change that as well…

Are there any special instructions to follow when using the current screens?


#16

Hey @conradj how did you do the joint CASS? I’m a beta user, have a joint account, but have no option to initiate CASS from the settings page of my joint account, where there is the CASS option in the settings page of my personal account. Thanks!


(Kelvin Papp) #17

There’s been some discussion around this in the Joint Account feedback thread. It remains unsupported for Joint Accounts at the moment, but some have had success. My experience is detailed here;

You can initiate CASS via the Add Money > Add Salary screen from the Account tab if you want to have a go yourself :grinning:


#18

Just given this a go myself. Will keep you all posted!


(stuart brown) #19

Just taken the plunge for a joint account switch from HSBC. Will keep you posted :slight_smile:


(Matt) #20

How did you manage to initiate the joint account switch - I can’t find the option for it?