The occasional surprise always makes things better
Great list of updates!
Savings pot! happy dance
Withdrawing large amounts of cash and sending large bank transfers
Done! If you need to withdraw large amounts of cash or send a large bank transfer, just drop us a message through in-app chat. Please do this in advance of your transaction to give us time to review your account!
Did I miss and announcement here? Does anybody know how this works? Is it a temporary increase of ATM limits or an interbank arrangement?
I imagine it’s ATM at the moment. This type of limit increase for large purchases can be done with all banks. It’s often worth speaking to them to make sure it won’t get declined. I had to do this with Lloyd’s when I purchased a car. The big banks don’t always make their limits clear. From my understanding the limits are mostly there to combat fraud etc.
The limits are there mainly for fraud prevention and not a workaround for a technical limitation; so assuming Monzo reviews your account and says it’s OK, they’ll temporarily adjust the limit. No interbank arrangement necessary!
Great list Monzo
That does tick a lot of boxes for me. Joint Accounts are still my primary ‘want’ but many of these other things are somewhere on the list too.
Agree. I only hold small amounts of money in monzo as I get anywhere from 1-4% interest paid by storing my money in rate setter or a high interest savings account.
By competitive savings rate, I hope it is atleast 2%
Really excited about everything on this list! Especially excited for Joint Accounts, my partner and I have been waiting for it since we got our own Monzo accounts
I’m kind of inclined to suggest that, if it’s at all possible, Joint Account cards have something aside from their card number to differentiate them — whether that’s a “JOINT” under the Monzo logo (like with Investor cards) or a different colour or something, it’d be good for the more forgetful among us (and would differentiate cards nicely in places like Apple or Google Pay)
Such a detailed list of updates- love how it’s set out so clearly with dates to work towards. Good work guys looking forward to international payments (which I’ll probably need at the end of the year). Joint accounts and interest are probably big draws for other people too.
Now theres the transparency we know and love. Good to see everything laid out, with some very surprising release dates!
Keep it up!
For bank transfer payees, definitely.
I’m not sure about P2P payees. We were planning on just pulling people’s names from their profiles.
Will have a think!
4 key items…
International payments and remittances - can’t wait for it to land, it will allow monzo to rapidly expand to European countries.
Joint accounts and interest paid on savings
Web interface for emergencies is great but I’d like to see its utility expand to support simple day to day banking needs like payments/transfers and statements.
One step at a time will do for me. Big bank approaches have the habit of going bang in completely unexpected ways!
I’m looking forward to the coming months with Monzo! You guys are amazing and the speed things are happening now are lightning fast since the prepaid has been closed!
I can see now why everyone was pretty excited for the features coming in May
Love the openness and can’t wait for joint accounts. #fullmonzo customer coming soon. Great work and glad I’m in the Monzo boat.
Amazing update. Looking forward to seeing how it all progresses