Hi James.
Glad you’ve joined up and with a few friends that’s great!
Be aware that Monzo have a 30-day £200 fee free foreign ATM withdrawal at which point when you go over you are charged a fee for ATM withdrawals abroad (Monzo ATM Fees). Places like Starling don’t have any limit as far as I am aware.
Unfortunately, it looks like Cheque Imaging has been taken off the roadmap for the foreseeable future, you can see the discussion here: Making Monzo: Cheque Imaging
Yeah I’m happy at the £200 30 day limit abroad. An online cheque cashing option would have been useful but the postal method seems simple enough.
Are you able to offer a cheque book?
I doubt they’d ever have a cheque book facility.
Genuinely curious as to why you want one though.
It’s a work thing I am forces and when away we often cash cheques to get money especially in countries that are dangerous or have no or dodgy atm facilities.
Ahhh. Well I don’t think Monzo would be a cheque based bank any time soon if ever, given they are app focussed?
Maybe a separate one needed for that? I know a couple that have cheque scanning feature (I have one) but not sure about any that issue cheques.
Yeah I have an account elsewhere that does cheques. Was just seeing if I could stream line to just the 1 account.
Many thanks.
Not actually from Monzo just a forum member - sorry for any confusion. But as @gmclean has suggested it is unlikely Monzo will be offering cheque books unfortunately.
Welcome to Monzo @Jimmyb878, great to have you on board. I have moved your post here see see the previous decision and keep thing tidy
No worries thankyou all
I receive cheques probably once every couple of months.
They can vary in value from £20 up to £500.
Being in the armed forces I cash personal cheques when away on deployments as it is often the only way to safe money.
Monzo isn’t the bank for this case - unless whoever you’re getting the cheques from can send them directly to Monzo by post with your account number on, perhaps? Instead of to you…
Monzo isn’t the bank for someone who needs to deposit cheques electronically from abroad - they don’t offer this service whilst plenty of other banks do which would fit this use case much better.
Monzo can’t be the exclusive bank of someone who needs to use cheques but frankly no one should have just one bank account.
I’ve seen this stated a lot on this forum. I’m 36 and have never in my life had or needed more than one bank account.
Why do you say noone should have just one bank account?
I would immediately say that the TSB IT debacle proves the point. I have two current accounts, one of which was a TSB account which I used as a fully functioning daily account. Then the IT problems started. Thankfully I also have a fully functioning Nationwide account which stopped me from falling into the odd problem associated with TSB’s IT problems. As soon as I could, I started looking for a replacement 2nd account and CASS’ed to Starling.
In my opinion it’s sensible to protect yourself from issues with a single bank or single payment network.
I would love to have one provider and one account but any company can have an unexpected system issue. I keep a Visa and a Mastercard just in case and it’s saved me a few times (admittedly this could be done with a CA and a Credit Card also but not everyone has access to or wants credit).
It’s also unlikely that one bank will give you all of the features that you want but chances are you can achieve this with two.
I have an issue with being tied to one company for anything as a consumer too but maybe that’s just me.
A backup bank in case there are issues with your main bank. It’s a good idea but I disagree with what people are suggesting.
Sure it’s a good idea to have a backup account but that’s not what people are suggesting here, people are suggesting to have another bank to fill in the missing parts of monzo that’s a completely different thing. You shouldn’t need to open another bank account because your main one doesn’t do the job, and if you are doing that then you should reconsider the need for the bank account that can’t do it’s job.
At this stage people might need multiple accounts to have access to all the features and services they want
Yes I would agree, if they planned to bring cheque imaging. But it’s wishy washy if they will and doesn’t seem like an area they really want to touch. Cash was another example of this, they did it but it seemed like they did it because of customer pressure and didn’t want to (I believe monzos ceo ultimately doesn’t want to touch cash). But they also chose the cheapest worst option available and then charged us for it, as a result people have done the mental gymnastics to convince themselves that it’s ok because they will just have a second bank for cash.
That’s not how a bank should operate. We should be able to use monzo for our banking without resorting to other banks. It’s just worrying that monzo seem to be struggling in that area.
You could say this about any bank. I could say I should be able to use my HSBC account without having to resort to using FinTech banks to get my budgeting tools and instant account notifications