Joint account overdrafts

(Steve Chandler) #80

:joy: Worth it

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Can’t believe the official process is taking so long when the unofficial one has generally worked fine!

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Once CASS is up and running, will we still need to both have a personal account with Monzo before setting up a joint one?

((╯°□°)╯︵ ┻━┻) #83

Yes :slight_smile:

(#fullmonzo joint account since Aug18) #84

There must be some issues with this. Unlikely Monzo would have put this out knowing the launch was 21+ days away. That isn’t ‘soon’ in Monzo terms.

(Jack) #85

Joint CASS is here:

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(MikeF) #88

Which, I guess, makes this an ‘Overdrafts’ thread now?

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(Rich) #89

Hi All,

Any news on when this might happen? Asked on the chat feature who mentioned it wasn’t available yet.

I’ve moved completely over from Barclays and its just nice to have a buffer on our joint account.

(Emma (still not the app)) #90

Saw on twitter earlier that this isn’t something they’re working on


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(Splodf) #91

That double currently hurts me.

(Andrew) #92

The target should be parity of features with a single account. Appreciate Monzo is taking a different approach, but for those of us who have gone #fullmonzo and come from a classic joint account this is important. It would be good to see a complete list of missing joint account features and get a status from Monzo on if/when these may come our way.

(Steve Chandler) #93

I got something similar too. Absolute gutted really. It’s the one thing keeping us from switching our joint. Having that just in case is lovely.


(Colin) #94

New to the forum (we’ll posting anyway), but have been with Monzo for a while and now have gone #fullmonzo using CASS (today) on a joint account with my wife. Putting my hand up for JA overdrafts - this was the one area which made me nervous of the switch as I occasionally went overdrawn on my old NatWest ACC - but switched anyway :wink:

(Andrew) #95

I understood that transparency was key to Monzo’s ethos, so it would be good to hear something from Monzo here other than deathly silence on plans for parity between individual and joint accounts. I really hope that the silence doesn’t not mean that JA are now thought of as ‘done’ and partly is not a priority.

(Chris) #96

+1 for me for a joint account overdraft. Mortgage, council tax, electricity and gas, broadband and car lease all still paid from out legacy joint account which has an overdraft facility “just in case”. We were once paid our salaries late while away on holiday… Only once, but I won’t risk a missed mortgage payment due to an unpaid DD.


A nice approach would be to have an overdraft across accounts!

(Colin) #98

So if both JA holders have an overdraft on personal accounts any overdraw can be applied? Might need a prompt to opt in, Monzo should be able to predict a few days ahead if it’s likely to happen.


I was thinking more that one or both could opt for the overdraft to cover any negative balance on multiple accounts. So, if your joint account was in the red, your available personal overdraft would be reduced by that amount, or half if you both had available overdraft.


Card/credit sharing is something being looked at by eg Curve and Jaja. I think it could eventually become quite common, and probably render JA overdrafts redundant - you’d each just apply for whatever overdraft you can get from the bank as an individual, then use it as you see fit.

(Colin) #101

Couple of things going on here - priority will be probably be dictated by volume and value of JA to Monzo (they are still a business not a charity!) Also there is likely to be a difference between 2 flat mates setting up a joint account to share bills and a couple who have both of their full salaries going direct into their JA. I suspect the volume of chat demand and the number of salaries going in will dictate priority. But yes, if that is the case, happy to be in the know.