Joint Accounts 6

Allow a Mondo current account to be split into multiple virtual accounts.
Useful for joint accounts, charging expenses, or going on holiday.
Similar to Virtual Savings Accounts,

The rest of the banking world sees your Mondo account as one account number.
When a charge / payment arrives, you decide which virtual account it is assigned to, your mondo card defaults to any virtual account you specify and can be changed at any time.

Since it’s only one banking account you can retroactively change which account any payment or charge was supposed to go to. The history about how a payment was “moved” would be available.

For joint accounts you could request the default visibility of your personal virtual account to be hidden, so that you can save for that big surprise.

This would mean I could arrange with mondo just one Joint account, with two virtual single accounts each linked to a personal mondo card. We each get our own personal spending budget for them month but if a big charge hits the joint account that our personal accounts can cover there won’t be any problems.

Also if I give myself a budget for a trip away I can create a temporary virtual account linked to my mondo card, to track how much money I have left on that budget. And collapse the temporary virtual account when the trip is done.


Check out this thread for some other thoughts on the idea. I think there’s a couple of others but that’s the one that came to mind for me.

Thanks for the thread, it’s definitely similar in a savings focused way.

I think the ability the change which account a charge ends up on is great, and being able to hot-swap which account your card charges to by default elevates this idea to being savings focused to being banking focused.

Having my joint account operate in this way, and therefore every other account I own, would simplify so many things.

For example I’m constantly charging things to the wrong account, and just moving the transaction from one account to another rather than having to send the money between accounts (and then wondering why we did, a month later)

Also I’ve gone overdrawn on one account when my other accounts had plenty of money, removing that aspect of banking would be a great help for me.

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