Labs Feedback: Joint Accounts 🤝

(Richard Cook) #1

We’ve just launched joint accounts in Monzo Labs! That means you can now open a joint account, test it out, and give us your feedback :tada:

To get started:

  1. Head to your Account tab.
  2. Tap the settings icon at the top next to your name.
  3. Scroll down and tap Monzo Labs.
  4. Switch on the toggle next to Joint Accounts.
  5. Head back to your main feed and tap on the item about joint accounts.
  6. Follow the steps to get started with a joint account.

Note: the person you invite to create a joint account will need a Monzo account. But they don’t need to turn it on in Labs (we’ll do that automatically). And after you’ve both set up your accounts, the toggle in Labs won’t do anything.

What to expect

As with anything in Monzo Labs, remember that it’s a work in progress and we’re not guaranteeing a 100% smooth experience. But your feedback will help make it great when we finally bring it to everyone!

You can do most things with joint accounts that you can do with your main account. But we’re still working on these features:

  • The Current Account Switch Service
  • Shared Pots

Topping up a joint account by debit card isn’t supported, and we’re not adding it. Please use a bank transfer instead.

A note on cards: our new-look cards for joint accounts are still in production. So the card you get will still look like your old one.

Known issues:

  • You need to have P2P payments enabled to sign up
    • Fix coming soon
  • iOS Widget not currently working correctly
    • TBD
  • You can’t add money to your account before the card arrives.
    • TBD. For now, just wait until you receive your card!
  • The letter that comes with the card is not customised
    • We’ll fix later.
  • Touch/Fingerprint ID may misbehave (iOS and Android)
    • TBD. To fix: disable and re-enable Touch ID in your settings


Will opening a joint account affect my credit score?


Short answer: it might.

Long answer: we don’t yet report joint accounts to our Credit Reference Agency (CallCredit). However, once we do, the two owners’ credit files will be linked together, and this would have an effect on their respective credit scores.

When two people sign up to a joint account together, and this is reported to a CRA, it informs the CRA that two people are liable for the same account, and it creates a financial link between them. When carrying out credit searches, some lenders will also credit search an applicant’s financial link. Lenders may or may not take the credit situation of an applicant’s financial links into their decision

This often depends on the lenders risk appetite, the type of credit product the borrower is applying for, and so on.

If you have a joint account with someone with a very low credit score, you might be denied credit. Conversely, if you have a joint account with someone with a very high credit score, you might be offered credit.

As with most credit-related situations, this will be dependent on a multitude of factors, and we can’t definitively say that having a joint account will affect a customer’s credit score or will affect a specific lender’s decision.

Will any other joint accounts I own affect the likelihood that I’ll be offered an overdraft with Monzo?


No - we’re not currently taking financial links into account for our overdraft decisioning.

I’m getting stuck on the Who do you want to open a joint account with? screen


You need to enable peer-to-peer payments. To do this, head to the Payments tab, and turn it on by allowing us access to your Contacts.

Watch the Joint Accounts Labs event back here.

Give us your feedback below! And thanks for helping us test joint accounts!

Pots for joint accounts
Feedback: Joint Account testing
Personal account to joint account pots and transaction round ups
Are joint accounts still dropping for users today?
Joint account idea
Joint account idea
Joint account card feedback
[Joint account feedback] Moving money between accounts
Are joint accounts still dropping for users today?
:white_check_mark: [Android] Unable to send money
Repeating payments on JA
Multiple accounts, single summary
Joint Account Q&A
Filter transactions by an indidual joint account option
Does Monzo offer a joint account?
Joint account card registration

I find it very annoying that the big blue “add to Apple Pay” button is there but doesn’t work and sits there teasing me! That was one of the things I liked on starling, it added and was usable instantly

Feedback: Joint Account testing

Just seen it confirmed on the live stream.


What about closing a joint account, when is that functionality available?

What happens to transaction history?

If I open a new JA with someone else, will I then get three accounts listed or will the old JA be archived?

(Tom ) #5

The “Make Monzo my main account” message has disappeared :raised_hands:

However this is still there. Can these messages be made dismissable?

(Ricky Nos) #6

Just waiting for my better half to sign up to Monzo then JA all the way, can’t wait.

One functionality I’ve not seen talked about yet is the ability to pay for something from my current account and later move that transaction to the joint account.

Im thinking of paying for some drinks, which I normally do contactless on my phone, this comes out of my personal account. Then back at the table I selected the transaction and ‘move’ it over to the joint account. In other words the joint account reimburses my account for the drinks.

What do we think?


That’s pretty much what Curve does.

I do see some value in it.


Why not add the joint account to Apple Pay and pay for drinks via that?

(#savetheseabass) #9

Can’t you just use your joint account card on your phone?

(Ben ) #10

I’d quite like this to be honest. My current joint account, we barely use for day to day purchases - as a result I tend not to carry my card. (Wallet space priorities).

There’s occaisons every now and again where this is useful (and I guess in reverse too - transaction in the joint account that should be out of the solo one).

I guess it would be just a fast way of going through the process of select payee, amount, date, press pay - but useful.

(Ricky Nos) #11

Yes all valid points but this is the future of banking right? I look forward to the day where we don’t have cards.
Also I would have to unlock my phone, open Google pay, select JA card, then tap…

The point of contactless is that’s it’s quick and easy, I really don’t want to be that guy holding the bar up because I forgot to do all the above points beforehand.

(Hayk Khachatryan) #12

Are there any plans to allow more than 2 people to share a joint account?


Great to see JA live in labs now! Noticed there’s not a forum post in #labs to get feedback but assume that’s inbound!

Are joint accounts still dropping for users today?

Yep - Signed up 10 mins ago.

Look forward to giving it a whirl!


Not sure I’d trust my “better” half to have a joint account with me …

(#savetheseabass) #16

No much to feedback on yet, basically a toggle.

Let them finish the event and do the dishes first :grin:


Great to see personally I prefer to have my own account and not joint.


Oh I just assumed it was all working :flushed: my bad!


You should get a feed item to then go through and complete the joint account sign up.

I was slightly confused at first after clicking the toggle and searching all through the account area for the rest of it :stuck_out_tongue:

(Michael) #20

I’m assuming that it links peoples Credit History together? :eyes:

If so, I’m out.