Monzo + legacy basic account -OR- Monzo + prepaid card


Hi! I’ve got accounts with

  • Monzo (current account),
  • Monese (prepaid),
  • a legacy current account and
  • a legacy basic account.

I am very impressed with my Monzo app so far (only wish is for at least a pin to unlock the Android app). I don’t like my standard legacy account’s sneaky fees and not having a record of transactions until hours (chip and pin) or days (contactless) later, so Monzo feels like an upgrade.

I’m thinking of closing the standard legacy account and doing all my banking with Monzo as my main account and for my backup account to use either the Monese prepaid card or the legacy basic account.

What would you do? ¯_(ツ)_/¯


Monzo and prepaid for backup - that’s what I do. Never needed to use the backup yet though, besides occasional Apple Pay use on the tube.


Currently Monzo is my main account. It has the majority of my money in, it’s where I get paid and it’s where all of my sole direct debits come out from.

I have a legacy joint account that is used as a backup, though I’be never needed to.


I agree. Monzo for main day to day UK spending and Monese for SCT (SEPA transfers)


You sure? :wink:


Monzo all the way for me. Love it.


Thanks for the responses. :raised_hands:

To clarify further: I have no need for SEPA transfers (all transactions are UK-based) and want to

  • (A) simplify my accounts and
  • (B) reduce the possibility of incurring any fees or charges.

For a backup account I really like the Monese/Revolut model but not Monese’s fees (5 GBP/month or £1 per ATM withdrawal) or Revolut’s lack of customer service.


To specify my query to my situation:

When being assessed for a prospective mortgage is there a difference if you use:

  • a basic bank account (indicates no overdraft or no eligbility for an overdraft at some point in the past, or indeed an unwillingness to pay banking fees)?
  • a prepaid card (Monese/Revolut/etc) in lieu of a bank account (may indicate similar to a basic account, no FSCS protection)?


I use Monzo for 99% of things.

I keep Santander for cash which I seem to get lately and try to avoid.


Good idea!

Monese would cost £2 at the Post Office or £3 at Paypoints (per deposit), available during my local convenience store’s long opening hours.

The legacy basic account would be free to deposit, available during bank opening hours.

Customer service is great from both, but fee-free cash deposits are quite a factor.


If you are going to quote fees at least get them right!
£1 at Post Office, 2.5% at PayPoint


That is one option they have. The other is a FREE account.


Sorry, should have been clearer.

Currently on Monese Starter plan as testing it out and wanted a “free” comparison with other accounts. Therefore the 2% Post Office and 3% PayPoint apply. Cash deposits are usually once a month and under £100 so it would not be efficient to get the Plus plan.

Starter plan = £0/month + per deposit: 2%/£2 Post Office and 3%/£3 PayPoint

Plus plan = £5/month + per deposit: 1%/£1 Post Office and 2.5%/£2.50 PayPoint




I assume that is how much and how often you deposit? However, to clarify to others you can pay in more and pay in more frequently.

With the Post Office you can deposit £500 per transaction. In PayPoint you can pay in up to £500 a day, in transactions not exceeding £249 each, with a £5000 a month limit.


I’m probably one of the few people who’d vote for keeping their legacy (or, as I like to call it: proper :stuck_out_tongue:) account open.

As I have detailed elsewhere Monzo is just not offering enough to cover my banking needs. Additionally I’m actually getting paid for my current accounts (about £20 per month, after deducting fees), so there is no way I’m giving this up.


I’ve free Monese, this is a screenshot from app it shows no fees at all at Post office


A bit off topic but their font reminds me of Starling :wink:


When I deposited a test £10 at the Post Office with Monese, it credited me with £10 in the app. Then a while later that changed to £8 with the £2 fee being detailed when you tap the Post Office entry in the statement screen.