Joint Accounts 8

(Robert Dalton) #1

I would think it amazing if you could link two accounts to one so that a couple could manage finances together under one account while providing spending transparency.

We have to talk about Joint Accounts
Does Monzo offer a joint account?
Does Monzo offer a joint account?
(Naji Esiri) #2

Hey Robert,

This is a really popular feature idea. Although they may not fit the mould of a conventional ‘joint account’ we will be working on features which will make it a lot easier to send, share and save money together. Bill Splitting between users for example, is one feature on our radar which we hope to introduce in coming months.

The idea of linking two accounts has been discussed at length here, it might make for some interesting reading! Joint Accounts 5

Joint Accounts 9
Does Monzo offer a joint account?
FSCS Protection -- Ethics
(Oliver Ford) #3

Does that mean there won’t be an option to simply have two (or more) simultaneously active cards on an account?

That’s going to be a deal-breaker for a lot of people. If Monzo doesn’t support joint accounts, it’ll be “the bank for singles” - but worse (smaller market) than that, those with no plans to cease to be single. Who wants the hassle of changing their bank just because they get married (or otherwise equivalently financially committed)?

NB - ‘duel cards’ sound dangerous!

(Naji Esiri) #4

[quote=“OJFord, post:3, topic:7125”]
it’ll be “the bank for singles” - but worse (smaller market) than that, those with no plans to cease to be single.
[/quote] Haha wouldn’t work as the most upbeat tagline would it??

@OJFord In summary, no, that doesn’t mean that two cards linked to one account won’t be an option, we’re still considering how this could work. It’s just the features I mentioned are likely to precede this, and at this time we can explain with more certainty how we see these working in the context of managing money with others.

Synthetic Accounts
Does Monzo offer a joint account?

I’d like to see a joint account of some sort in the future too.
I’d really like a joint savings pot between two monzo accounts though. Not a separate savings account, a single pot of money attributed to both accounts, with a ledger on what account paid in what etc.

(Alex Sherwood) #6

That’s what I’m imagining too. In fact, it’s possible that Target’s are the foundation for joint accounts…


Excellent. That’s what I see as moving banking forward.


My only query is my missus finding out how much money I have left as she’ll see I’m a good budgeter, then she’ll spend mine as well?! The only managing of finances will be when she spends my money!

Joint accounts or similar work for some, but for me we have a joint bills accounts, and 2 separate personal accounts for our own spending.


That is exactly the setup I have with my other half. We pay in a set amount each month and the bills come from it. It seems to work for us!

As for your first comment, I don’t want the missus finding out how much I spend on vinyl (though I don’t want to know either :joy:)


I once started to total up the amount I’d spent on vinyl. I had to stop. I was close to tears.

(Andy Little) #11

I have the same setup with my other half.

(Rob Stanley) #12

I agree … why manage two (or three) accounts when you can manage just one. All ‘family’ income into the same place and all 'family’
expenses going out from the same place. Really important to find a solution to this one in my view.

(Alex Sherwood) #13

Definitely, there was some discussion about this idea earlier today here too -

(Oliver Ford) #14

Confused by the numbering then, if that’s not just earlier in this thread @alexs - does Discourse break into a new thread with the same name + increment after a certain number of replies, but still allow posts to the old one as if a separate topic? Sort of load balancing more than archiving?

Or is someone renaming duplicates without merging anything?

(Alex Sherwood) #15

That’s me renaming duplicates - is the sequence making sense?

The numbers are assigned based on when the post was created so that when posts appear in the search results, users can see the order.

Only the Monzo team can merge threads currently.

(Oliver Ford) #16

Ah righto. It makes sense, just a little odd to have them concurrently active. Still, better than different names I suppose.

You might see if you could get permissions/the role/whatever to be able to close them at least? Then duplicates could be renamed, a pointer added to the active one, and locked from further contribution.

(Umair Evans) #17

I think this would be perfect in flatshares for pooling money to deal with various household expenses

(Naji Esiri) #18

@OJFord going forward old posts will be closed after 6 months of inactivity. Merging can get confusing as the timestamps muddle the flow of conversation. The inactivate duplicates will be extinct in time!

(Peter Williams) #19

It’s a bit of a work-around, but this system works well for us.
Use case : we have a joint monthly budget for all of our discretionary spend (eating out, groceries, etc), plus our own budgets for a couple of categories (clothes, cash).
We both have monzo cards and wanted to be able to track all spending to the appropriate category.
Our solution: Jane’s card account has all the joint category budgets and we both have our own for the personal ones.
Whenever I spend on something which should come off a joint category, I quickly (takes 15 seconds) send her a monzo-me via WhatsApp for that amount, putting the category as the description.
She confirms payment back to me in seconds and her category is ‘charged’ that amount.
Result : very low effort, great real time budgeting.
Works for us.
Could never do that with our Nat west account.
However, looking forward to full joint account in monzo.

Joint Accounts 9
(Alex Sherwood) #20

It might be worth considering sending your partner a message with the amount & category and then her sending the payment using the in-app transfer feature. I guess that would be the ideal process for Monzo because costs Monzo money :money_with_wings:

But at the end of the day, you’re the user & you’re just doing what’s most convenient for you. That sounds like an ingenious solution! :eyes: