✅ Monzo Plus: Virtual Card from a Pot

[andrew_fishy (Biggest horse fanatic in Leeds)]

It looks like in the future you’ll be able to select what Pot the funds come from - there is only one option for now (current account) but it seems that may be a drop down in future!

[alawrence (Anthony 🛩️)]

Introducing the new Monzo Plus

We’d love to do this, and we did some tests on it! You could then add it to Apple Pay, and have a “fun money pot” or do envelope style budgeting. The bulk of the work would be ensuring we’re compliant with all the regulations - as soon as you add a card to a pot it could be classed as a “payment account” and trigger a bunch of legal and compliance work .

Looks like there’s some regulatory hurdles to solve to get this working. But I agree.

[andrew_fishy (Biggest horse fanatic in Leeds)]

Ah, I didn’t see that one - too many comments. haha, I am absolutely loving Monzo Plus though. Definitely worth the price.

[BritishLibrary]

@richardcadman did say they may consider it if they get enough feedback.

So cast your votes everyone!

[davidwalton (Award Winning Hot Coral Analyst)]

Voted

[sam_s (Crowdfunding investor)]

Yeahh, I think this alone would justify £5 a month for me haha.

I think whats been launched is an AMAZING base to work from, especially at just £5.

Introducing the new Monzo Plus

We have some designs for this, I agree! But we wanted to start with the “general purpose” version. You can create a card and then delete it immediately after use. If we see people doing this a lot, we’ll consider building the auto-delete version . Similar for the “pay from pot” version too - if that’s the feedback we get. We expected people to put all their core subscriptions on one card, have one for disposable use, and then use the remaining three for free trials and stuff. We can co…

If everyone could just cast a vote on this thread then maybe we may see this feature sooner rather than later???

[RobertGauld]

Absolutely this idea, it’ll change virtual cards from being a gimmick to a useful feature for me.

[jonjoe (Jonjoe Whitfield)]

The new Monzo plus is fantastic.

With that said, the virtual cards are kinda gimmicky without being able to attach them to pots. I 100% echo the sentiment that this is a super strong base to start from and I am looking forward to these cards being more useful in the future!

Good work guys!

[caspararemi (Caspar)]

When you create a card you can pick where the money comes from - your main balance or a pot. I didn’t think about this at the time, and it was only afterwards I decided to create a pot for my Netflix/Amazon/subscriptions money to be ringfenced. Unfortunately at this point you don’t seem to be able to change the source. I can delete it and start again but I’ve already updated Netflix and Amazon Prime with my card details so that’s a hassle.
Is there any chance you can add an Edit button to the virtual card settings page?

[Toblet (Toby Copeland)]

I love the idea of a virtual card where I could link all my continuous card payments without having to give my real credit or debit card but it would be nice to have it links to a pot so I can send my salary into it monthly.

Am I the only one that thinks this is a good idea or am I thinking outside the box for once?

[Juggy69]

Already Discussed

Legal requirements etc

Happy scrolling

[tomhmoses (Tom Moses)]

We could even use the old coral card to go from one pot and the plus card from another

[Revels]

This would then virtual cards from good to great!

[AR2018]

Ok i’ve voted for this also. Does need to happen this.

This is how I would like to see it work, Per Card/Assigned Pot. Let use decide behavior depending on how they would like Virtual Cards/Pots to function. Does kind of cross with Limits assigned to VC

• Only authorise payments “IF” money is available in Pot, DO NOT fall back onto Main account balance i.e. Reject Payment.

• Authorise payment from Pot IF money available, if not then attempt to take from Main Balance (Like DD From Port Behaviour), if not able to take from Main Balance then Reject Payment

Now I would envisage these Pay VC from Pot would have to show up in the Main Account Thread, just like DD’s payed from pots do for accountability since pots are not actual accounts.

[david_cole (David)]

this so much! voted

[Weecoco (Colin Webster)]

this would be perfect for my montly subscriptions, I could simply top up the card at the beginning of each month with £20 and then I could forget about it. I think this would be a great idea and this is the main reason I got so excited about the virtual cards

[Anarchist (Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)]

@Weecoco

I could simply top up the card at the beginning of each month with £20 and then I could forget about it.

I do this with my iTunes subscriptions. I load up my Apple account with the monthly total, and let Apple take care of the payments.

I’m slowly transitioning to using my Starling account for this.

[monz0bj (Matt)]

Echoing what others have mentioned already in this thread, I feel like Monzo Plus is a work in progress rather than a finished product.

• Being able to link my other accounts is a brilliant idea, however, my credit cards are not currently supported.

• Virtual cards are also a brilliant idea, however only any use to me if I can link them to a pot, to use the Salary Sorter to separate my bills and have them come out separately. One of the main reasons I moved to Monzo was for the Salary Sorter to move everything in-house, instead of transferring to a separate ‘bills’ current account and this would finish it off.

• The credit tracker is handy, however most credit agencies don’t use transunion and there’s not tons of detail, especially for a paid service.

• The ‘offers’ are good also, however they do not seem exclusive but more like a leaflet I might get in the post. Similar to what others have mentioned, a cashback with selected retailers scheme would be much more attractive.

Despite this constructive criticism, I have joined Monzo plus both to support the bank which has an exciting future, and because it has promise and will be great. Keep up the good work and I am excited to be a part of what is in many ways the cutting edge of fintech developments.

[don_quixote]

Voted!

[RobertGauld]

@monz0bj

exciting future, and because it has promise and will be great.

Exactly it’s a great base to build on, I happily commited to the minimum 3 months to add to the “this version’s the one” signal and see how it develops. I don’t think I’ve seen any request for plus that can’t fit in to either “how about this tweak” or “add support for this company”.