This, under the larger banner of “make it as difficult as possible for customers to claim their cashback.”
Many years ago I once got a contract with a cashback offer. They sent me an A4 envelope with ‘redemption sheets’ I had to send in, with copies of the accompanying bills. And I couldn’t send them in each month, they had specific windows when I had to send in appropriate sets of sheets and bills.
Did I ever claim any of that cashback? Did I buggery. It was such a pain in the arse getting everything together, and the redemption sheets kept going missing when I needed them so I missed the window, and eventually I think someone else threw them out as junk mail because after a point I was never able to find them again.
That experience was enough to put me off being tempted by contracts with cashback ever again.
I felt compelled to open a starling account for cheque processing, after months being frustrated with posting cheques to monzo, and various problems. just to say… so impressed with their cheque processing - it works brilliantly. if anyone is still thinking about doing the same - just do it
I deposited cheque using imaging via Barclays Bank! Yes, Even the old Legacy banks that the forum regs used to laugh at have this feature!! I paid a cheque in on Monday & I was allowed to draw on it within two hours, yes two hours! That’s better than Starling’s clearance time!
Sorry. This seems untrue… can you show us one of these letters? I have cheques for smallish amounts saved for humour. Never in 38 years of banking have i received a letter asking me to cash any… please show us your letter?
Why on earth would I keep such a thing? The last time I left a cash unchequed it was from a solicitor and for about £8 and they probably sent me about five letters before I finally relented and went down to cash it.
I had a refund from barclaycard, for less than £1, in the form of a cheque when I closed my account. Not only did they post the cheque to me, but they sent a follow-up letter close to it expiring to warn me that I need to cash it.
Most of these systems are automated and I imagine whilst £1/£8 here or there isn’t a problem, if it happens to 1000 customers a year, the regulator might soon start asking why money is being retained instead of returned. So I guess this is their “best attempt” at returning it.
Cheque imaging is so 2017. I’ve got it on almost all of my other banking apps. What Monzo need to do now is Cash Imaging, otherwise I’m moving to Starling and I’ll start a thread about it.
9 Likes
Anarchist
(Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)
976
You just know that if Monzo did cash imaging, it would only work on 10p coins and be limited to 25 per 30 day period.
I initially opened an account with HSBC for cash imaging and apart from it sometimes telling me the cheque wasn’t flat enough or it wasn’t within the confines of the window and getting arm ache from moving up, down, left a bit, right a bit… it worked ok and cheques cleared within 24 hours.
However, I changed my phone in October and could not get back into my account so decided to close it which in itself was a hell of a faff so got Monzo to close it for me.
I now use Starling and the process is so much simpler and then transfer the funds to my Monzo account
So, today for the first time i have posted a cheque to Monzo. I have seen alot of topics about everyone wanting Cheque Imaging built in the app but i was just wondering if everyone knew about what the cost is for the Freepost Service and does it work out cheaper to keep using Freepost rather than fund the development of imaging, is the risk worth it?
I also wonder if they are working on it but are making it a “Monzo Experience”. A little bit like how Apple launch features later than android in a really smart way