Making Monzo Better: The Big List

(Mark) #143

There’s currently chat on a different thread about a vertical joint account card! How sweet would that be.

(lee) #144

You’re not looking very far then. It’s obviously not something that interests you thats fine nobody would force you to use one. But around 25% of the UK use one and thats not because they dont have rules for pots or any reason about tidiness.

I’ve answered plenty including reasons above and never once mentioned tidiness as a reason. You don’t understand why - thats fine, nobody would force you to have one.

I can expect a bank to act like a bank, rather then tell me they think they can do it better but don’t in three years.

The recent April presentation talked about how only a small % were paying salary in. With CASS and apple pay given as reasons. And whilst i think that will account for a chunk of people i suspect the main reason is because its still too similar to a prepaid card and that its generally still a bit much of a compromise on some fronts.

(Ray Singh) #145

International Transfers

I’m aware that :monzo: is looking into providing IBAN in the near future. Why not using open banking space and integrate this with TransferWise(rather than providing own service) to save some costs? I’ve been using TW for over 6 years without any issues.

Adding New Payee

Why can we not add a new payee when it’s convenient for us? It may not be possible to have bank details handy at the time of transfer so it’ll be nice to have this feature. Apologies, if it has already been raised elsewhere!

(Dan) #146

Monzo’s market penetration is meant to be something like less than 1%, so I guess that explains why I haven’t seen anybody else yet. You’re still the only person I’ve seen request a second personal Monzo account.

You haven’t given plenty of reasons. You have only mentioned what you cannot do with pots, like automatically move money if you go into an OD. You cannot do that with any other bank account, either.

Regardless, I’m asking you why a second personal Monzo account would be useful to you, and what benefit it would bring you rather than having just one, other than having two separate feeds, à la tidiness.

You’re right, I don’t understand, and I’m asking you to educate me. Again you’ve just dodged the question. If you can link me to one of your previous comments that says your reason for the advantage, I’d be happy.

Unfortunately you took a quote way out of context, I was trying to give you some advice. The full snippet looked like:

I made my first post because I’ve seen you bring this subject up countless times, but I’ve never seen you explain the benefit or what it’d mean to you, therefore I cannot understand because I do not see the benefit myself.

I’m not disagreeing with whatever the benefit to you might be, I just want be to educated on what it might be, because I’m not seeing it.

(Tim Banting) #147

If there is a lot of effort going into joint accounts I wonder if that could be leveraged for children’s pocket money accounts? I would love my little daughter to get used to spending and saving from an early age. Perhaps limits could be set by parents or pots could be used so that maximum amounts per day/week/month cant be exceeded?

There are a lot of pocket money/children’s account out there- some even charge a fee. I would be happy to put that in Monzo’s pockets rather than some other company.

(Richard Bairwell) #148

I’d like the following on the ‘Editable Standing Orders’:

  • Upload logo/improve description (so a ‘user specific’ version of the merchant data as I suspect most standing orders will be ‘person to person’ or a ‘person specific account number’ making it difficult to be a ‘community’ configuration)
  • Editable amounts
  • Easy to view list of previous payments/dates/amounts
  • Maximum date setting
  • “Process Now”: because of bank holidays etc, sometimes money hits my Monzo account earlier than expected - I want to be able say ‘Okay, I know I’ve got a standing order to pay my mortgage on the 1st, but send the money now to reduce interest’. Obviously an option to ‘Skip schedule payment on XX/Month would be good’.

(Dan) #149

@TimBanting Have you had a look at GoHenry?

(Tim Banting) #150

That’s exactly the sort of functionality I would love to see in Monzo! Although I would like to start saving for my little toddler (with some interest on it) until she is of an age where I can can give her a personal card.

(Terry) #151

Pleased to see joint accounts on the list. This may persuade me to use the Monzo account.

(Tom) #152

looks good but its a shame cash deposits are so far away :(.

this is the one thing stopping me from going ‘full monzo’.

(Andy Little) #153

I can see the logic in a 2nd account, because I manage mine between 3 current accounts. My wage goes into Monzo at the end of the month. Then at the beginning of the month a transfer goes into our joint account to cover all the household bills.
Another goes to an account with a different bank, covering monthly and yearly expenses which are my responsibility. For example, my phone bill and 1/12 of the cost of servicing my car that year.

Pots are not sufficient for this because I can’t set up direct debits from them.

I just think it’s better organised that way, as all my big annual / monthly expenses are just taken care of automatically (obviously I had to work it all out in the first place).

All that said, how you manage finances is a very personal thing. No doubt my system seems crazy to some people.



(Ben Shewchuk) #155

Loving the summary, wifey’s well impressed too. Something that would greatly benefit us, as well as the many thousands who work in the railway and transport Police et al, is that we get paid every 4 weeks, 13 equal Payments a year, being able to set this up as an option would be very helpful. :+1:

(Kim L.) #156

Really, really impressed by this! :raised_hands:t2: Super excited for what’s to come!


Just keep an account open somewhere else for that purpose, and then transfer in…


When pots have rules, you can just move the money from them automatically just before they are due to go out from the main account.

(Andy Little) #159

You don’t always know what date a payment will go. For example when I set up my car tax I was told the money would be taken “soon”. With a 2nd current account I can just move the money and forget about it.
It’s the same if you pay for insurance annually “we’ll take the money within 2 weeks for the start of the policy” has been a fairly common one for me.

While a 2nd account would be nice, for me it’s not a problem. I just use a different bank for that.


OMG OMG OMG!!! You guys have finally listened and are doing joint accounts within months!! You’ve made me so happy :scream::star_struck:, and you’re bringing Android up-to-par with the iOS app!!


(Matthew Farrington ) #161

I think its a bit wrong that you wont pay interest on my account balances. All those few pennies add up to £s. Starling do it so why wouldnt you. Just sounds like you dont want the extra expense for those “few pennies”

(Stephen) #162

You do realise that savings accounts / pots are in the pipeline, yeah?