Joint account overdrafts

well, surely there must be many, many other people like me who need the backup of an overdraft facility for the joint account that’s used for mortgage payments.


We discussed this earlier in the topic :point_up:

I have a joint account and I don’t need an overdraft, so straight away theres one person to counter your claim. Sure I wouldn’t mind one but I’d rather Monzo focused on other things first.

I use Monzos other tools to help me manage my money and I’ve also made my own overdraft too which is far superior. Have a read further up if you’d like to learn more about it as well as other peoples thoughts on the matter.

I have a pot for my bills that has a few hundred quid extra in, which effectively does the overdraft for me.

Sure, there are plenty of workarounds, like pots, which I use a lot too. However, with large sums of money like a monthly mortgage you can get caught on the hop easily and be overdrawn by mistake for a couple of days before shuffling your money around and I can’t risk using an account without an overdraft facility for something as critical as a mortgage, which I’m sure must be the case for many others too. This much needed feature would be the final nail in the coffin for my Barclays account.

Not so much a workaround but in addition to pots etc, Monzo will notify you in advance if you don’t have enough funds to make an upcoming direct debit.

This gives you time to shuffle money around as you mentioned, right up until 2pm (if I remember correctly) on the day it should have been taken. This is because you can retry the payment up until this point to avoid any late fees.

I still understand how it could be important for some so be sure to vote for it at the top of this topic if you haven’t already :slight_smile:

Thanks Ordog, that’s a really useful reply.

I do of course keep an eye on the slightly greyed out ‘upcoming payments’ so I can be ready for them, as most of my direct debits and standing orders are on my Monzo account. However, at the risk of repeating myself, with the mortgage, which is by far the biggest regular payment, I just can’t risk not having an overdraft facility to cover it for a couple of days if necessary. Also being a joint payment between me and my wife, this needs to come from from one of our joint accounts, not my own personal Monzo account. This must be a really common problem and I’ll certainly vote for it as you suggested.


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I think the ultimate answer here is to prioritise your money and important bills, and work with the rest.

Your mortgage is more than likely similar every month and being so concerned about it, wouldnt it be wise to be sure that money was set aside before anything else?

I understand your point, but really, prioritisation to cover your mortgage before anything else is key.


Thanks for the input Carl, but I already do prioritise my mortgage, doing all that stuff is basic money management and I always do it. However, if the half of the money from my wife (for example) comes in two days after the mortgage goes out, there’s a gap that needs the security of an overdraft. It’s really simple, it’s a basic bank account requirement. My money management is as good as it can be. I’m completely on top of it with prioritisation, pots, watching for upcoming payments etc. Regardless of all that, having an account with large amounts of money going in and out regularly without the safety net of an overdraft just isn’t an option. It’s just a necessary feature, at least for me and I’m sure many others too.


Absolutely agree with you Hugo. Our account for mortgage, utilities, car finance etc. is still with our old bank, which offers a j/a overdraft. We are fortunate enough to be able to have savings, we budget carefully, etc.

But about 13 or so years ago we worked for the same employer. While away on holiday my wife received a text from a colleague saying there had been a problem with the payroll and everyone would be paid late.

I will not take the risk, however small, of my mortgage payment bouncing because of a delay, for whatever reason and however unlikely, in receiving funds.

I don’t necessarily want to be watching my phone screen every day especially while I’m away relaxing, or to be having to be scurrying to move funds around. For me an overdraft, although I haven’t actually used one in years, is a basic requirement.


There are. And they have to bank elsewhere if they require a JA with an overdraft.

Most High Street banks don’t even insist on their JA customers having a Personal Account so I can’t believe that Monzo don’t want to offer overdrafts to JA customers as a blanket rule.

Which leads me to the conclusion that it is either too difficult, or they just can’t. If I’m right, all the voting on the forum isn’t going to change anything, unfortunately.

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There’s also the issue that people with good credit, good salary, good history with Monzo etc etc still can’t get an overdraft. Add the complication of a second person and even if they offer it, I don’t hold out much hope that the people that want it, would get it anyway.

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Hopefully with the work on loans, JA overdrafts might be next

My solution to the lack of overdraft is my emergency fund. The pot for my mortgage contains 3 months worth of mortgage payments, same for my other bills pots. This approach means I should still be ok even if there’s an issue with our pay not arriving in time.

I do wish there was an option to create a specific overdraft pot though, for added peace of mind.

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This is what I do too even though I actually have an overdraft (personal account).

I built up my emergency fund from roundups, a savings challenge and throwing a bit of money in here and there. Now it’s at a healthy amount and I’ve already conditioned myself to spending this money when I was building up the balance of the pot, I’ve directed the money towards my savings pot and that’s building nicely now too.

I like the idea of an overdraft pot though! I’d love that even on my joint account.

Adding another vote for overdrafts on joint Monzo accounts! Like others here it’s the one thing that is preventing us going full Monzo.

As someone else has said another option would be having an ‘overdraft pot’ where a buffer can be built up & is automatically dipped into if a payment unexpectedly is going to take us below £0 from the joint account.