Hi, is there any restriction to how much money I can have in my Monzo account? Or to how much I can move in an out my account?
Thank you
No upper limit, though monzo may ask questions.
The daily limit I believe is 10k, any higher you’d submit a limit increase request. You’ll need supporting documents/evidence of the purchase.
Isn’t FSCS covered up to £85k. So more than that would be a risk?
This
Anything over £85K in a single bank which is a FSCS member (such as ) could be lost if things go badly wrong.
Splitting the wealth into £85K chunks and depositing them into different FSCS bank accounts would be the way to go, although investment / pension plans for the larger wealth amount would likely outperform this way of using money to your advantage*
*Not financial advice
Wasn’t there once a topic where (maybe @simonb) said that there isn’t a limit but try not to have like £9,999,999 or something
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