Monzo.me

Dibs on monzo.me/Chris please @Naji or @hugo

Maybe this could be tied in as a perk for the next round of crowd funding :sunglasses:

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Or all customers be able to pick two Monzo.me addresses such as real name and nickname or maiden name and married nane

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Hi!

I’m not sure it’s the right place to ask the question but I had to issues using monzo.me lately.

I’ve not been able to receive payments from people using Visa cards. I tried with 2 different persons with the same result.

Is it a know issue? Am I the only one having this issue? I see another topic about issues with Visa (but not related to monzo me): Verified by Visa - failed to top up

They have a “this card is not supported” error message.

Any explanation? Any work on that?

Thanks :slight_smile:

Hi Simon - maybe worth asking customer support with the in app chat - they will have a better clue :slight_smile:

Was the person who was trying to send you money using a credit card, by any chance? They’re not supported with Monzo.me.

Are they trying to send you money using a visa credit card?

Maybe… how can I know?

If it’s the explanation, it would mean that the majority of Visa cards out their are credit cards and since Visa is pretty popular, that would mean that monzo.me is not eligible for Visa users :frowning:

You’d need to ask them I’m afraid.

The only way for someone to send you money from their credit card at the moment is to withdraw it from an ATM & typically (please don’t point out exceptions, I’m talking about the majority of Visa cards), take a large hit in fees as a result, which puts most people off doing that.

So this isn’t really any different than what most people are used to, when it comes to accessing their money.

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Visa debit cards work for me. I rather suspect that Visa credit cards won’t work because that could be a way of getting cash credit without fees, which many credit card issuing providers are reluctant to support.

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I finally asked the person to do a wire transfer on my Revolut account. Not real time and the need to add my iban/bic on their bank website :frowning: Being able to use monzo.me with these cards would be SO useful!

Because I believe it’s a “choice” from Monzo since you can use Visa credit cards to buy product online and since monzo.me is basically an online payment form…

Do remember that Monzo.me payments and top ups are money transfers, not just online purchases. Credit cards are significantly more risky for this, especially as you would not be paying the cash advance fees that normally cover the risk for cash transfers. :slightly_smiling_face:

I would point out that Visa cards make up nearly all UK debit cards from traditional banks so this isn’t an issue of networks, just of card type and their agreements. As for how you would know, by network rules, the card must state credit or debit somewhere on it (on most cards, this is above/blow the network logo or on the back, maybe in the hologram).

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If they have a bank account, they could have just used the debit card associated with that account to pay you through Monzo.me. Did they try that and have it fail?

They only have a Visa Premier Credit Card associated to their account :worried:

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But that “choice” may well be that to comply with regulation (no, I can’t cite it) or to appease vendors - as @alexs has pointed out, it would be a pretty trivial way to extract cash on credit; if I’m Visa and Monzo start allowing people to circumvent my fees I’m going to consider blocking those payments.

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It could also be used to circumvent credit card interest. I owe £500 on a credit card, so I pay £500 into my Monzo account using that credit card and then pay £500 back to my credit card before the payment due date. Voila! I have another month’s £500 interest free credit on my card.

TL;DR: Ain’t gonna happen.

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How about an option to allow people to do recurring payments via monzo.me?

because it costs Monzo money to allow Monzo.me payments , and it will be a free facility in the current account once the Current account lands ?

This is true. Looking forward to the CA

So, when will Monzo allow you to change your username on Monzo.me