Newbie here, found out about Monzo last weekend, signed up yesterday afternoon, received card this morning
I got this card to help fund my nephew’s 6-month backpacking trip around Asia. The idea being that family can top-up occasionally. I’m impressed with the security features, particularly being able to freeze and defrost at will. We will each have the app installed on our iPhones, so I’m trying to understand how the location-based security works.
As I understand it, the phone needs to be within 500 metres of the card’s use. Is that correct? Does that mean if I open the app here in UK, my nephew thousands of miles away cannot use the card (since he’ll be logged out when my device logs in)? I’m guessing that all he needs to do is log in, so that my device is automatically logged out, and his phone is now geolocated near the card? Or have I completely misunderstood how it works?
I’ll have my card back when he returns in July… the more I read about Monzo the more I’m liking it