Limit on cash deposits

Hi All,

Is it possible to get the £1000 cash deposit limit raised at all?
When travelling for business etc I can quite often go to places that aren’t likely to accept cards and so will regularly withdraw a bit of cash so I can buy lunch or whatever.

Also going to a funeral Yesterday I withdrew a bit of a more substantial amount as I knew the bar wouldn’t take card’s, as it turns out I spent a lot less than I expected and have come home with £200 cash.

I’ve got a lot of friends weddings planned in the diary for this year and the situation could easily be the same (It’s always nice to imagine spending less than one might :wink: )

Given I already chuck about £150 back in cash per month it seems like just a few extra bits of cash over a 6 month period is going to take me over the limit and suddenly the deposit limit seems quite restrictive.

In the past I’ve also done collections for a local charity I’m a trustee of and just banked the cash then sent the money forward to the charity but putting an extra £500 in cash (and obviously soaking up the fee myself) is really going to put a dent in my limit.

I guess I’m going to have to keep a legacy high street account to pay cash into if there’s no way to raise the limit in Monzo?

I understand we’re mainly a cashless society and I’d love to be entirely cashless but it just doesn’t work like that sometimes and I’m worried this is the one limit I’m going to find is a struggle with my Monzo account.

Alex

Unfortunately there isn’t a way to raise the limit. I believe it’s something monzo are hoping to do in the future, but no timescales as of yet.

I have also used the majority of my deposit limit, therefore I’ve kept one legacy account purely as a backup + depositing cash if required.

The other option is to use that cash and pay for your supermarket shop, that way any left over cash will get used up quickly.

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I’m also someone who tends to take too much cash out from ATMs and be left with excess that I end up putting back in. I thought I was weird but glad i’m not the only one haha

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