Monzo Labs: Easy Bank Transfer

Honestly on this boat also, if im transferring money from another account ill usually like to check my balance also before sending.

In terms of a first building block though to proper integration between accounts ill take it (when my other account is supported but you get what i mean :laughing:)

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Make sure your app is up to date, needs to be 3.40.0

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I hope this is going to be used as building blocks for other features in the future (actually, I’m sure it will), otherwise it is kind of saying not enough people switch accounts to Monzo so we built this to get a bigger balance sheet?

But like I said, excellent building blocks for something further.

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It looks like it.

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I tried it with the Lloyd’s app. It definitely took longer than opening the Lloyd’s app and transfering to my saved account in there, but most of the slowness is on the Lloyd’s side of things. You get at least 4 different loading spinners in a row from Lloyd’s when going through this!! :roll_eyes:

Seemed to work well though and even gave the option to transfer from my savings account. Once I can see my Lloyd’s account inside Monzo this will much more useful!

I think the most fair comparison is using Easy Transfer vs. setting up a new payee for the first time. This is the use case it’s intended to speed up. If you already have the payee set up, it might be quicker to use your other bank’s app :slight_smile:

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As it happens Lloyds were one of the first apps we successfully got this working with and all the spinners made us very nervous that the general user experience was going to be rubbish. Fortunately that’s not the case, as a whole we’ve been quite pleased with how other banks have built Open Banking access!

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Very snazzy!

Moved £10 from one of my Natwest accounts to my Monzo with very little effort and 0 issues.

Excellent work!

Yeah, it’s definitely better than that! Lloyd’s ring me up with a code if I add a new payee!

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Tested with NatWest, worked brilliantly. Good work.

Seems to be a different notification being shown when using this method, as it references where the money came from. Noice.

Wow - worked seamlessly for me. I regularly transfer money in and I have so many badly named accounts in my NatWest, I have to do some cross checking. This took seconds.

Working with RBS - but seems to be an extra step (rather than going directly to the RBS App):

You need to select “Online Banking” and then it opens up in the RBS App quite smoothly.

Maybe it only happens if they Open Banking single sign on option has expired (or not setup).

What’s the experience like for anyone who doesn’t have the external bank’s app?

It feels like all of the open banking stuff in the Lloyds app uses Web views and every query has a slight different spinner. I’m sure they could improve this in the future :slight_smile:

I’m glad someone noticed, I spent ages on that :joy:

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Seems to take you to the online banking website for the bank involved.

@kieranmch is it possible to put some indication if the banking app has been installed or not?

Is 2 notifications deliberate? I did get 2 but didn’t know if that was intentional for labs release

I think this is technically possible but there are restrictions imposed by the OS to stop apps from scanning your whole phone. Would need to look into it further.

No this shouldn’t happen, do you have a screenshot?

I know you can’t talk about future releases but hypothetically from an open banking /technical perspective in the future could this be used in this scenario. Say you want to pay your AMEX bill you could send money the other way ?