Monzo Overdrafts survey re: r/UKPersonalFinance

Yes but Monzo use all that info to come up with their own score based on their internal criteria

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And that’s fine, there is a law that the client can ask for a human to intervene to look at a request on a case by case basis.

The law of “Tell me. Tell me. I need to know. I want to know. It’s my right to know.”

So we have one part of the internet that know that score and the rate you get isn’t related making fun of the other part of the internet who don’t know that’s the case and think it’s above this credit score you must be getting x percentage and that Monzo are not applying that consistently.

If you’re on a banking forum I’d say you’ve got time to burn.

I lot of people easily amazed these days…

/Unpopular opinion



Beautifully put.

And why not? The CRAs have been actively marketing exactly that to people for the last few years.

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Not sure I follow the agression against people who took part in this poll (I didn’t). They were clearly under the impression they were being misled. Whether they are in fact right or not, it doesn’t seem unreasonable to be upset if this seems to be the case. Why is that a bad thing?

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Glad to see Monzo staff feel Reddit is more than graffiti on a toilet wall. That opinion is apparently just for the die hards.

In fact, it considered so important that Reddit gets an infitintely more detailed reply about overdraft rates than the community has ever had.


A post was merged into an existing topic: Removed Posts - February

I was actually shocked to read the post from a Monzo employee on Reddit. - especially this part:

We won’t take away or change an overdraft you’re using if your score changes.
If you already have an overdraft with us and your credit score changes, we won’t take the overdraft away, and we won’t reduce your limit.

If true, I can’t see how that matches Monzo’s obligations to be a responsible lender - all banks should reduce overdraft limits if their view of the creditworthiness of a customer changes.


Bit cheeky that Reddit gets a detailed reply, whereas the thread about Facebook tracking (potential breach of GDPR) takes a whole load of effort just to get a response saying that we’ll get a response some time.


Reminds me of when a twitter poll was done to change the transport icon and the community only found out after a member shared the results on here :slightly_frowning_face:

I thought this place was the heart and sole of Monzo :broken_heart:


Oh I had only just forgotten about that icon and written it off as a bad dream.

As much as I like Monzo its so fucking stupid at times. Making changes to a bank affecting millions of customers by a Twitter poll. I hope someone put a stop to that actually happening.


Did you miss the word ‘again’ off the end as I believe it did get updated based on the result?

The actual reason for the poll was ridiculous too in my opinion :roll_eyes:

Ah so on Android they have half-arsed it.



Annoyingly this rings a little true with me…makes Monzo seem slightly toy like and removes a little faith from them.

That said…I got some good answers from the forum and followed them up with an in app chat 24 hours ago…they said the borrowing team would get back to me in 24 hours. Oops…

One thing I’d love to know is how TransUnion have any idea how much you’re paid?

All banks report monthly income/outgoing totals to the CRAs so it’s fairly easy to work out take home and from that estimated gross salary.

I just don’t find that possible…repayment of expenses from your company (mileage, lunch, hotels etc), payment from your other half for bills (those of us who don’t have joint accounts :eyes:) and the rest. I just don’t see how incomings you your account can anywhere near quantify your salary…

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But not everyone has those types of incoming payments. I’m assuming it’s a minority who do but I have no real basis on which to set that assumption.

It’s only ever going to be an estimation.

If you log into HMRC and check out your salary estimator it’s quite often a little out, despite them having all the information they could ever need!