Main page on the website and overdraft page are still saying Monzo only offer up to £500.
Feel like this changed months and months ago now?
Didn’t know who to tag but hopefully this gets to the right person.
Edit: pointed out this is presumably and surely a new lower limit. Ignore me
Has it ever been £500? I’ve had more than that for a year and a half
I think there’s a chance they’ve cut the amount you can borrow
Yes, it looks like it’s gone down to these limits. (For people who apply for either as of now).
Given that it’s been well reported they cut loan offers not long ago, I suspect this is almost certainly the case (and was possibly done at the same time but hasn’t been noticed until now).
Fair enough. Did leave the ? in in case that was it.
You’re probably all right
Also shows that loans are limited to 3,000 at the moment for everyone.
You say ‘interesting’, I’d say ‘unsurprising’.
The current situation has the potential to make situations finacially very tricky for people. Which means it could also make things financially tricky for banks.
As a neobank with a lower capitalisation than long established banks, and also not yet making a profit, it makes perfect sense that Monzo would want to reduce their exposure should there be a high percentage of customers unable to make their payments.
Oh yea. I’m not surprised at all. I’ve seen and been speaking to people who have had loan offers reduced.
Just good to see it actually listed somewhere as being reduced instead of speculation.