Monzo Flex - Question

UK Help
1

Sorry if this is in the wrong place - please feel free to move it. I could’ve sworn I saw a specific area about Monzo Flex but it’s quite challenging to navigate this forum sometimes!

I have a Monzo Flex account (not a card) but haven’t used it yet. I know you can ‘Flex’ something up to two weeks later (not sure how that works in practice) but I was wondering if you can change your mind later.

For example, if I spent £1,000 in an online transaction and said I’ll pay it in full or over 3 payments for 0%, can I change my mind and add it to longer instalment plan at 24%? If so, at what point is this allowed/not allowed. Is this what the 2 weeks is for?

I’ve tried finding this in the Flex agreement but it’s silent in this regard.

Thank you for your help!

2

You can move it up to the 24 months, and back down to 3 months, however, the minute you remove it from the 0%, you can’t go back to 0% over 3 months.

If you have a Flex account in app, you should also have a card.

The two week limit applies when you spend on your debit card, and wish to go back up to two weeks to Flex a transaction.

4 Likes
3

That was quick! Thank you!!

That makes sense! So, I’d be better off selecting 3x 0% on all transactions to start with and then putting it to interest bearing in month 3 if required?

Ah, I elected to not have a card. It’s for online transactions only really. Well, that’s what I envisage anyway.

Thanks for your help!

[EDIT]: I can’t quote posts by the looks of it so hopefully the above makes sense. Also, I can’t seem to mark your answer as ‘Solved’ to my query. I know other Discourse forums have this option!

4

You’d only be covered by using flex for section 75 if you use the Flex card details. You’re not covered if you pay using your debit card, and then flex a transaction.

The individual item also needs to be £100-£30,000. It’s based on individual items, not total receipt value.

1 Like
5

Yes, with the consideration mentioned above :backhand_index_pointing_up:

There is a nifty slider in the app that allows you to see how much interest you’ll pay and the monthly repayments as you increase/decrease the timeframe

1 Like
6

If you try and quote a full post it will remove it, because that’s just simply a reply.

I’m not too sure about the ‘solved’ aspect, but I certainly can do this. It’s therefore likely that it’s based on trust level. So as you hang around more, and get involved in discussions, your score will increase and you’ll get this feature.

1 Like
7

I think you can now I’ve changed the title.

1 Like
8

Oh I hadn’t thought about that! That’s useful to know thanks! Have a card number, just not a physical card. But I’ll definitely remember that for larger purchases!

Great stuff :grin: