Monzo Flex payment

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1

Can i use Monzo flex to pay tution fee?

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Hi :wave:

Provided it doesn’t fall under financial institutions it should be fine.

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You can’t use it for any of the above.

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3

Depends how Monzo identify the payments. Assuming merchant code, tread carefully. Some universities will fall under personal finance companies when paying tuition fees.

Using the Open University as an example, as I believe their process is done through OUSBA, a separate financing company, which is a subsidiary of the OU handles all tuition fee processing (even if you pay up front and not via a loan). You pay them, they pay the OU. Because the nature of OUSBA is providing tuition fee loans to students, their merchant category code will identify them as such, and so you wouldn’t be able to flex it.

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4

It’ll 100% be the MCC provided by the company to MasterCard, we have no control over it.

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5

So does tuition fall under the financial institution category?

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It’s not up to Monzo. It’s what the company states it MCC as.

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From citibank pdf

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8

It’s not possible for us to tell until the payment has been made. It’s worth checking with your tutor/institution to see how they process the funds.

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9

While talking to them I’d suggest seeing what options/rates they can provide for spreading payments too

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10

No, they aren’t you should be fine.

11

Okay thanks, what are the chances that i would get approved?

12

Nobody can answer that

13

Only the app will tell you if you’re approved.

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