Making Monzo: Cheque Imaging


Yes, it is weird isn’t it? HMRC, happy to do a BACS transfer, DVLA, apparently not? Some things just don’t make sense. But then HMRC have an advantage paying money directly into a bank account as it helps them build a financial profile of a taxpayer, not that they really need to because they will know just from the name and date of birth of anyone exactly what bank accounts they hold anyway…I suspect…:see_no_evil::hear_no_evil::speak_no_evil:

(Jamie 🏳️‍🌈) #142

This :smiley:

(Sarcasm is the finest form of wit.) #143


I had to send a cheque a few years ago when I was setting up my business bank account. A cheque for £1. I had to order a chequebook just for that!

(Nick) #144

So this is disappointing. I think focusing on the low number of cheques is a mistake since many of us currently have much better ways of depositing cheques than posting them to monzo.

(yatin) #145

Disappointed by the delay - its a basic hygiene factor - and even legacy banks support the scanning of cheques as a feature (e.g. Lloyds).

While I agree it is an infrequent activity, I believe that just by looking at how often cheques are posted to Monzo is the wrong way to look at it - I don’t send my cheques to Monzo because the process is a pain. I just use the Lloyds app, take a photo, and shred. So on that basis, I’ve only ever sent a cheque to Monzo once.

Also, Monzo is experiencing rapid growth - so I’d expect the shorter the amount of time you’ve had a Monzo account, the less likely you are to have to submit a cheque. Has this been validated? Does the data look different when you only consider active current account holders of more than 12 months?

(Richard Cook) #146

Hey all, as you’ve already seen, we’re pausing our plans to join the Image Clearing Service for now, as we’re prioritising other areas where we have a bigger impact.

We know this is disappointing news. But there are other improvements coming soon that should speed up cheque processing time. More details in the blog post.

(Daz Fisher) #147

I’m very disappointed in this notification!
I reluctantly accepted the fact there was a delay and that August was the next ‘slot’ available to get cheque imaging finalised. We are still 5 months away and Monzo have already ditched their promise to deliver this. I don’t think this is a good move at all!


Whilst I can see where Monzo are coming from with this, I do wonder if it’s a bit short sighted.

Granted, the number of people who have used the facility to deposit a cheque may be low, but that doesn’t necessarily directly relate to the number of people who would use the Imaging Scheme if it were available.

First, people may have another bank account who are part of the Imaging Scheme. So depositing the cheque there is simpler than sending it in the post.

Second, I’ve spoken to multiple people who state having to post a cheque as one of the reasons why they are sticking with a traditional account over Monzo - they can take it to a local branch which they perceive as easier than posting. The Imaging Scheme could have been a mitigation for those people and could have resulted in more people joining.

Neither are guaranteed, but I just don’t think it’s a simple as “no-one uses the postal scheme”

(Emma (still not the app)) #149

Disappointing but if only 0.1% pay cheques in currently I can see why it’s not a priority

(Morgan Perry) #150

I have to admit that I rarely receive cheques, but it does happen. My legacy bank account doesn’t currently offer cheque imaging, so this is disappointing.

The article states that “less than 0.1% of our customers have ever deposited a cheque” and no one seems to acknowledge that it’s much easier for me to walk into the branch of my legacy bank than worry about it getting lost in the post, or paying for a tracked delivery service, and this is likely why the number is so low.

(Daz Fisher) #151

And perhaps I should just add as a Full Monzo account holder, with NO other bank account I have put all my eggs in the Monzo basket, as I believe in what they are doing. However, already having 1 cheque torn in the post on its way to Monzo, the image clearance is important to me. So this announcement is certainly unwelcome I’m afraid.

(Jordan) #152

You can believe in what Monzo are doing and still have a standard Legacy Current Account that will do Cheque imaging for you? Bank the cheque at the Legacy and move it to Monzo, job done.

(Daz Fisher) #153

whilst a work around, not what I want to do.
I also notice that the feature has been removed from the Making Monzo road map, which is also a little sly to be honest as I believe it had several thousand likes and (correct me if I’m wrong) but was the most liked/anticipated feature on the road map?

(Jordan) #155

If I can ask, why is that? I appreciate that this causes friction, but is the only way around paying-in cheques currently.

(NM) #156

The technology is there(Github), the regulations are easily to follow and could be done by someone(The regs are on the internet) . This is ill advised, everything is laid out nice and easy to follow someone just needs to pull their socks up and get on with it.
Also businesses will use Cheques, 0.1% of the minority use it but that shouldn’t matter, the biggest issue I see here is a regulatory one.

(Daz Fisher) #157

I think Monzo are a little short-sighted on this one, the new business banking will I’m sure increase the use of cheques! Whilst I would still be disappointed with another push back, the fact they have ‘taken it off the table’ is what I’m angry about. I will not open another bank account to simply pay cheques in so will continue to post.

(Adam) #158

Thinking about the first question, for example, less than 0.1% of our customers have ever deposited a cheque!

I have had several cheques but have decided to use a bank branch to deposit them to ensure they don’t get lost in the post. If cheque imaging was available with Monzo, then I would have used this feature.

edit: 0.1% is ~16,000 users at 67p = £10,720

  • approx cost of receiving the cheques assuming 1 cheque per person.

(Daz Fisher) #159

I agree it’s not a particularly accurate percentage of a features worth.

(Jordan) #160

IMO I find cheques extremely archaic and with a “Digital Only” bank this will naturally be one of the areas Monzo are unlikely to cater for (at least in terms of priority).

I’d much rather leave an account dormant so that if I ever get a cheque I can just pay it in on the day rather than send it off.

(Daz Fisher) #161

I fully subscribe to a digital only bank, but people still need to pay money in and what with the Paypoint fiasco around cash and now what appears to be the scrapping of cheque imaging, this is poor.