‘Lend to Friend’ Feature

I am often lending out small amounts of money to friends, family or my girlfriend. Keeping track of their repayments and any debts I usually do through notes on my phone. It would be really helpful if I could handle this within Monzo.

When you send money to a contact you can mark it as a loan. There is a field to enter any terms. There is a repayment field in which you specify amounts to be repaid and dates to be repaid.
Once they make a repayment it is deducted automatically from the loan amount and you can see a history of their repayments. You can also get a reminder and notification if they have failed to make a payment which was agreed prior.

Other features could include added interest options and automatic repayment options working in a similar way to direct debits where the person receiving the money can agree to pay back a certain amount automatically each month.


Will it also include an option to send threatening letters and ruin their credit report if they don’t pay? If so I’m in. :joy:


Haha yes, there can also be a button to hire a local Bailiff. You can then track the progress of the Bailiff on a map like Uber :rofl:


Can we charge usurious interest rates?

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50p per day should be enough. :grinning:


This thread cracked me up. My sister is always asking me to Monzo her a loan; so far the payments have all be one sided.

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we could have our own peer to peer lending within Monzo…


Furiously starts typing code for the API


This would be good for when you see monthly summaries, any transactions marked under lending and have been repaid could be negated. For example if you lend £100 to 2 friends, you now have 200 additional monthly outgoings, once they pay you back you have 200 additional incoming. This gives a bad view on your monthly summary especially if you lend lots.

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I look for 60 pound for one week. I pay back 80 pound.

This sounds like a good idea. Not sure if its at all possible though? I feel for Monzo as there are so many suggestions but they can only realistically do so much.

Although the idea is cool. I can see situations arising where the end user can’t pay back (could cause tension within the family or within friends).
Where they are paying you interest wouldn’t it be better for them to go through a proper channel such as their overdraft for any quick money they need?

Saying that I’m sure these issues could be ironed out, if the procedures were outlined within the app.

Maybe something could be achieved through the marketplace?

But couldn’t those situations also arise if you lent a friend money and kept track of the amount on your phone?

As far as I can tell, this idea is NOT about lending for interest, just easily keeping track of money you’ve lent to friends, and perhaps showing them how much they’ve borrowed, somewhere in the app (@Sudoapt94 please correct me if I’ve got the wrong end of the stick).

A toggle option when sending another Monzo user a payment, then a section in the payments tab (called “P2P Loans”?) would work. The amount owed would also appear in the “P2P Loans” section of the recipient’s Payments tab.

Personally, I think it’s a brilliant idea. I always forget how much I’ve lent/borrowed from friends then we both have to look through bank statements (maybe months later) and figure it out. This would be another step to turning Monzo into a financial hub and potentially boost growth through its Monzo P2P nature.


In the meantime, you might find Acasa useful:


I don’t use any of the household bill features, or payments through it, but find it a good tool to log when I lend to a friend/partner/housemate or split payments between others.

You can set up multiple ‘households’ eg. I have one for me and my girlfriend, and another for my housemates and I.

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This is a really good idea and is something that I would find extremely useful - lots of comments but not many votes!?

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It’s a regulatory nightmare. Never going to happen.

Using split the bill will deal with this for most people who aren’t trying to profit from being a friend.

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There are only 14 comments, so sadly not a lot of those either.

I too can’t see this happening I’m afraid. It would have to be so overengineered to account for all sorts of situations where they don’t pay or do partial payments etc.

It’s one of those where just making a note of what you’re owed is probably the best. Or, buy whatever they’re wanting the money for on their behalf and use the bill split functionality.

I wanted to suggest just a tracking feature, rather than the additional suggestions around profitting with interest and late payments etc. The liability would obviously stay with the person lending, I wouldn’t expect Monzo to go beyond that.

Keeping a note works fine too of course, but I am lazy and often forget :money_mouth_face:

Just create a shared tab then :slight_smile:

You are a diamond! :diamond_shape_with_a_dot_inside: Thanks

Although can this be done with people outside of Monzo? :thinking: