# Monzo in the Media 📰 **URL:** \ **Category:** Monzo Chat\ **Created:** [5 November 2018 11:47 UTC](https://community.monzo.com/t/monzo-in-the-media/51194 "2018-11-05T11:47:37Z")\ **Posts on this page:** 20\ **Page:** 40
**Author:** ![Justin](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justin/32/47892_2.png) [@Justin](https://community.monzo.com/u/Justin)\ **Post date:** [1 November 2019 13:14 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/857 "2019-11-01T13:14:28Z")
> [@SouthseaOne](#): > > Pretty impressive, or pretty odd, given that there cannot be more than a few hundred cards handed out I suspect the figure of 6,400 may include people who’ve recently moved to the UK from the US, and still had their US App Store (or Google Play) account when they first downloaded the Monzo app. I can’t confirm the exact number for Monzo, but I know that at least one UK-only bank sees around 2% of its downloads from US app store accounts. ---
**Author:** ![Rat\_au\_van](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/rat_au_van/32/49103_2.png) [@Rat\_au\_van](https://community.monzo.com/u/Rat_au_van)\ **Post date:** [1 November 2019 13:28 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/858 "2019-11-01T13:28:34Z")
That’s a terrible idea ---
**Author:** ![Justin](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justin/32/47892_2.png) [@Justin](https://community.monzo.com/u/Justin)\ **Post date:** [1 November 2019 13:59 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/859 "2019-11-01T13:59:49Z")
Actually, I think for vulnerable customers, it could be a great idea. I’d also like a feature in future that would allow a vulnerable customer to have their payment reviewed by someone they trusted, before it actually went through. I know the elderly aren’t Monzo’s core demographic, but some are more easily confused, and they’re also far more often the target of scams, and this kind of feature could reduce the likelihood of being scammed. One reason many people give for not banking online is that they’re worried about making costly mistakes, and such a feature would reduce the fear factor, and thus possibly open up Monzo to more customers. ---
**Author:** ![Rat\_au\_van](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/rat_au_van/32/49103_2.png) [@Rat\_au\_van](https://community.monzo.com/u/Rat_au_van)\ **Post date:** [1 November 2019 14:23 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/860 "2019-11-01T14:23:09Z")
But this is to target scams. How many people know they’ve been scammed within 24 hours? Even when asked they think it’s legit in a lot of cases Seems like it’s a tick box exercise with no real thought of a better solution ---
**Author:** ![gmclean](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/gmclean/32/47932_2.png) [@gmclean](https://community.monzo.com/u/gmclean)\ **Post date:** [1 November 2019 14:31 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/861 "2019-11-01T14:31:23Z")
Yeah I agree. Add a 24hr delay. I get person X to check the payment, they say it’s OK as well (2 people have now been party to the scam) and the payment goes out 24hrs later. Fast forward a week and ‘hey it was a scam’? How does the delay help? ---
**Author:** ![HoldenCarver](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/holdencarver/32/32425_2.png) [@HoldenCarver](https://community.monzo.com/u/HoldenCarver)\ **Post date:** [1 November 2019 14:33 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/862 "2019-11-01T14:33:30Z")
It’s actually a pretty sensible idea, if you consider it as being a form of escrow. It stops the account having everything withdrawn or moved out mere hours if not minutes after the fraud has been perpetuated, which gives the bank a greater chance of recovering money. There are a lot of people who realise they have been scammed within 24 hours, but at the moment they could realise within two hours say, and not get the money back because the scammer has already withdrawn it. Granted, it adds friction and goes counter to the previous trend of making access to money quicker - Faster Payments, cash deposits registering more or less instantly, cheque clearance times being reduced right down. But that’s the nature of the problem. You can’t improve access to money _and_ reduce fraud. Either access is easier and fraud risk goes up, or fraud risk is mimised but access is reduced. There is no single right answer that will fit everyone. But I think this idea, while not making everyone happy, will increase the amount of fraudlent transfers that banks will be able to recover. ---
**Author:** ![gmclean](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/gmclean/32/47932_2.png) [@gmclean](https://community.monzo.com/u/gmclean)\ **Post date:** [1 November 2019 14:44 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/863 "2019-11-01T14:44:35Z")
If possible then, if ALL payment/banking systems bought into this, they could implement a 24hr holding phase. To the user, it looks like everything is immediate (same for the vendor I’d guess) but the money only moves 24hrs later… more troublesome to think through the ramifications but … well I’m not sure if it’s better or worse from a ‘how on earth do we manage this’ viewpoint! ---
**Author:** ![kolok](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/kolok/32/46634_2.png) [@kolok](https://community.monzo.com/u/kolok)\ **Post date:** [1 November 2019 14:55 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/864 "2019-11-01T14:55:18Z")
When people get scammed they don’t realise it obviously, so when they send money to a scammer for a purchase , technical support etc they will factor this delay in, so the scammers will say that they’ll fix the computer in 24hrs when they receive the money, and people will wait an extra day before chasing up their ‘purchase’ ---
**Author:** ![stephenjames](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@stephenjames](https://community.monzo.com/u/stephenjames)\ **Post date:** [1 November 2019 15:00 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/865 "2019-11-01T15:00:54Z")
Easy fix “3 million customers refuse to use Tesco because they won’t accept Monzo” 0.001 seconds later suddenly Tesco accepts Monzo Power of the people! ---
**Author:** ![Anarchist](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/anarchist/32/27895_2.png) [@Anarchist](https://community.monzo.com/u/Anarchist)\ **Post date:** [1 November 2019 15:03 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/866 "2019-11-01T15:03:07Z")
> [@stephenjames](#): > > Easy fix > > “3 million customers refuse to use Tesco because they won’t accept Monzo” Or 3 million Tesco customers refuse to use Monzo? 🤣 ---
**Author:** ![Justin](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justin/32/47892_2.png) [@Justin](https://community.monzo.com/u/Justin)\ **Post date:** [1 November 2019 15:27 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/867 "2019-11-01T15:27:26Z")
And this delay could apply just for new payees, so most day-to-day payments wouldn’t be affected. ---
**Author:** ![Peter\_G](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/peter_g/32/89632_2.png) [@Peter\_G](https://community.monzo.com/u/Peter_G)\ **Post date:** [1 November 2019 17:25 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/868 "2019-11-01T17:25:38Z")
You are Anne and I claim my ÂŁ5. > > > Treasury Committee @CommonsTreasury ---
**Author:** ![Peter\_G](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/peter_g/32/89632_2.png) [@Peter\_G](https://community.monzo.com/u/Peter_G)\ **Post date:** [2 November 2019 11:08 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/869 "2019-11-02T11:08:07Z")
Different perspective on the Tesco issues: > **[Tesco investigates technical issues affecting Monzo card payments - CityAM](https://www.cityam.com/tesco-stops-accepting-monzo-cards-in-some-stores-after-complaints/)** > > Supermarket giant Tesco is investigating a technical issue affecting customers with Monzo debit cards after cardholders complained they were being \[...\] ---
**Author:** ![mholland](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/mholland/32/39805_2.png) [@mholland](https://community.monzo.com/u/mholland)\ **Post date:** [2 November 2019 11:36 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/870 "2019-11-02T11:36:54Z")
According to Metro, among others Monzo are just repackaging debt > **[The damaging repackaging of debt, from challenger banks to buy-now-pay-later](https://metro.co.uk/2019/11/02/damaging-repackaging-debt-challenger-banks-buy-now-pay-later-10978215/)** > > Just because it looks fresh and fun, doesn't mean it can't still hurt your credit rating. ---
**Author:** ![Peter\_G](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/peter_g/32/89632_2.png) [@Peter\_G](https://community.monzo.com/u/Peter_G)\ **Post date:** [2 November 2019 11:44 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/871 "2019-11-02T11:44:14Z")
They don’t say that, do they? They take issue with the 50p/day overdraft charge, but I think that’s different from repackaging debt, which (to me at least) implies reselling debt or other opaque financial instruments. ---
**Author:** ![Rat\_au\_van](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/rat_au_van/32/49103_2.png) [@Rat\_au\_van](https://community.monzo.com/u/Rat_au_van)\ **Post date:** [2 November 2019 11:45 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/872 "2019-11-02T11:45:02Z")
I agree 100% with klarna, that product has always worried me. Tried to buy some shoes and it tried to link to klarna with no info what it was But the monzo overdraft sign up flow and t&c’s is pretty clear ---
**Author:** ![Peter\_G](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/peter_g/32/89632_2.png) [@Peter\_G](https://community.monzo.com/u/Peter_G)\ **Post date:** [11 November 2019 19:58 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/873 "2019-11-11T19:58:49Z")
10 posts were merged into an existing topic: [Klarna discussion](https://community.monzo.com/t/klarna-discussion/85189/4) ---
**Author:** ![alexs](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/alexs/32/2443_2.png) [@alexs](https://community.monzo.com/u/alexs)\ **Post date:** [3 November 2019 12:30 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/879 "2019-11-03T12:30:44Z")
Here’s Tom’s comments on the [Watchdog accusations](https://community.monzo.com/t/our-response-to-the-bbc-watchdog-report/83298). > The BBC came to use with a large number of cases and, without crossing the line and tipping off, I’m very confident with the decisions we’re making here. [https://twitter.com/fintechinsiders/status/1190281356292567043?s=21](https://twitter.com/fintechinsiders/status/1190281356292567043?s=21) ---
**Author:** ![rarther](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/rarther/32/11565_2.png) [@rarther](https://community.monzo.com/u/rarther)\ **Post date:** [4 November 2019 13:59 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/883 "2019-11-04T13:59:17Z")
> **[Monzo now accounts for half the UK digital challenger bank market](https://www.thisismoney.co.uk/money/saving/article-7647253/Monzo-accounts-half-UK-digital-challenger-bank-market-data-finds.html)** > > Monzo now accounts for more than half the UK digital challenger bank market, according to new figures suggesting it has left N26, Revolut and Starling behind., ---
**Author:** ![alexs](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/alexs/32/2443_2.png) [@alexs](https://community.monzo.com/u/alexs)\ **Post date:** [4 November 2019 18:35 UTC](https://community.monzo.com/t/monzo-in-the-media/51194/884 "2019-11-04T18:35:27Z")
Another snippet from the same episode, which you can now listen to [in full](https://twitter.com/FinTechInsiders/status/1191396244972867584?s=20). > Honestly in 95% of cases it is an absolute slam dunk that this is a criminal. And they come up with heartbreaking stories, “I can’t feed my children, I’m going to be made homeless, you’ve done this to me” and I’m sitting there looking at the police reports explaining exactly where the money’s come from, going this is totally incongruous." [https://twitter.com/FinTechInsiders/status/1191370393317236736](https://twitter.com/FinTechInsiders/status/1191370393317236736) [Previous page](https://community.monzo.com/t/monzo-in-the-media/51194.md?page=39) [Next page](https://community.monzo.com/t/monzo-in-the-media/51194.md?page=41)