I’m not totally sure, I have personally never seen anyone asked to use a card reader to verify these payments - but it might vary from bank to bank.
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You can do this on Trading212, its probably a different implementation as its done via a card charge though not faster payments.
Its pretty neat though to top up your trading212 account instantly though
As a card charge can be disputed but a bank transfer cannot, I guess the higher levels of security probably stem from that.
Thanks Kieran, really interesting.
At the risk of repeating myself, I wonder if there’s a germ of an idea about integrating with more niche providers as part of a commercial arrangement.
To expand, lots of smaller financial services providers don’t have the money, inclination, skill or interest to provide an app. And certainly nothing to rival Monzo. So, I wonder if Monzo could perform that role for them? It might need a tighter integration, but maybe there might be a partnership / commercial arrangement in there somewhere?
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I can see my main use case of this being times when I’ve bought “Joint Account” things with my Monzo account.
If I’m reconcilling things, start in the Monzo app to see the amount, then do the transfer without having too much app swapping faff.
What would make this better for me personally is the ability to tap a transaction and say “transfer this amount from…” (and that from leading Pot, Other Account, etc).
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What do they do differently?
They have their own API format which is different from the standard format, so it would require a bespoke implementation.
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Is this feature designed more with new customers in mind? So they make a new monzo account and can then get money into it straight away without leaving the app?
It’s worth remembering that most people on the forums are full Monzo, so this feature would be less useful. However, most of our customers are not full Monzo (especially people signing up for the first time) and therefore this feature could be game changing for them.
The idea is eventually to make this part of our signup flow, and we are doing work to that effect at the moment. This will be a crucial change, because it means that signing up to Monzo no longer requires you having to set up a payee with your old bank.
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That would be super slick and a really nice experience.
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That’s a shame. I was hoping they’d be standards compliant. And that in a hypothetical future we’d be able to see Starling accounts in the Monzo app - Starling pots equivalent and all.
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It makes me kinda sad that I won’t get to experience the new user sign up flow.
Err, new Labs feature request. Simulated sign up flow?!
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That’s interesting. Especially the insight into why integrating Amex into the app was tricky. And why, I’m presuming, it won’t be in the first round of any future open banking integration.
On the Starling API, @kieranmch, do correct me if I’m wrong, but I thought that Monzo was in a similar position with the Developers’ API which was later supplemented by the open banking API?
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Not got this in my labs 
A nice feature for definite! Not one I think I’ll be using just purely because I don’t have an account with a legacy bank etc. but nevertheless it’s still a handy thing to have.
On a separate note, I’d like to say thanks to @kieranmch for the updates and constant replies today - really nice to see some mingling between Monzo and the community again seeing as it’s been a bit lacking recently 
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Well this is brilliant.
This 
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Hmm. It looks like it’s going to let me get money from my Tesco Savings account.
Nice.
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I’m ‘full Monzo’ if that’s even a thing these days. I find this really useful especially as it’s likely to be part of a wider open Banking integration. I’ll be happy when I can log into Monzo and see my finances plus move my money all from the one app.
Very good progress
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