Lenders we partner with

Is this new :eyes: I don’t ever recall seeing a discussion about it


I wish Monzo started to offer better savings pots :slight_smile:


@Revels might be able to find something but I had a good search and couldn’t.

Not too sure how I feel about a bank farming out business to other lenders. Is that common?

EDIT: a quick Google appears it isn’t

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Not seen it mentioned. I don’t think it’s bad really.

“Sorry we can’t help, you could try…”

Instead of

“Computer says no”

Maybe they’ll start doing the same for joint accounts.


Sadly these are high cost lenders for those with financial issues and monzo would make a referral fee for a successful loan to them.

I disagree with this route, shoot for profitability in a sustainable way, not direct people down an even deeper path.

If they’re not eligible it should just be a no, or refer to something like a comparison site, not those above.



There are lots of comparison sites and brokers that can get one the best deal (i.e. for personal loans, car loans, credit cards). Maybe people use that.

Separately some big names do do that. For example John Lewis Financing is FCA authorized yet many of its products are underwritten or delegated to various other firms.

Nationwide and Santander offer home insurance, yet it is actually like Direct Line & Aviva.

The above sounds like it will be a lot more transparent as to what is happening, and one will leave the app to apply.


Yes, this is what gave me bad vibes. I have no issue with Monzo saying no, and even suggesting options but this does two things.

It pushes people who might be desperate down a path, and Monzo makes money out of it. Both of those companies offer loans with high APRs from looking at them.

Sorry to sound dramatic, but that’s how I see it.


They are high cost bad credit lenders.

Making money off the detriment of others goes widely against their values making money work for everyone, not just themselves.

The bigger players wouldn’t even dream of it.

Edit: monzo were proud of being able to offer third party services in this way, as it is seen as helping customers…

“We can’t offer you a reasonable priced loan because we know you can’t afford it/don’t meet our criteria, so here go take one which costs you 3x our interest rates and we get a cut too :blush::rocket:


Yeah I know a lot of companies are umbrella I.e xx insurance trading as AA insurance etc.

Just hadn’t heard of a bank giving other options than themselves before.

I don’t know enough about loans to know if what Monzo are doing is good or not. But, to me this doesn’t feel like the right thing to do


I swear you don’t read before you type :skull::joy::rofl: literally says they get a referral fee (commission) within the help article.

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I’ll remove the word likely :joy:

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But these people will likely find these services anyway?

It’s not like without Monzo recommending they don’t think to Google or try elsewhere.

Monzo get a cut but it doesn’t cost the customer and they are free to ignore it or go elsewhere of their own accord.


They are free to ignore it but it clearly puts pressure on the customer.

No it doesn’t.


It costs the customer thousands extra in interest.

Sorry, but it evidently does. That is how any sort of advert works.

It might not be “hey you, click here or else” but it is still pressuring the customer to go to these other lenders.

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I know you have to be anti Monzo with everything you post, but you clearly don’t understand what pressure means.

It isn’t, because the low interest option doesn’t exist to them.

If you have bad credit, you won’t get a great rate. That isn’t Monzos fault.


Or maybe they just disagree with you. You aren’t right about this not being pressuring just because you think it.

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Well, probably.

But if you are looking at loans, and you get told no, but these other lenders can help, it might encourage desperate actions.

Equally if monzo just said no it might stop it, or force them to go elsewhere.

So would Google out a price comparison website in fairness. But to me the moral thing for a bank is to say no and that’s that. Or at least direct them to support options or debt charity links

Just to note it is great to see other opinions and that’s what makes this great. But on this point I think we will have differing thoughts


Through monzo no, but referring to a comparison site to give them a breakdown of who potentially can offer a loan, opposed to saying nope, not through us, but here’s two we can make money off and they’ll cost you 47-49% APR.

Doesnt seem responsible or fair at all, when potentially there’s other reasonable lenders available before hitting those high APR lenders.