Moving large amounts of money

Hi everyone,

Posting this pseudonymously as I’d rather not draw attention to myself personally.

At some point in the next few months (assuming things open back up), I plan on buying a house in cash. Is that:

a. possible through monzo? Is there an upper limit on how much I can bank transfer in a day?
b. is that wise? Using Monzo for the service vs a legacy bank?

Any thoughts or input would be really appreciated as im trying to plan :slight_smile:

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Hi ,

There is limits on income and withdrawal from Monzo.

You can find your limits in your monzo app under your “account” tab.

You can chat to someone at Monzo and they can sometimes change the limits for a set period of time? I am unsure of what these limits can be changed to as i have never needed to change them myself.

I could recommend popping up to someone on the app chat who could talk you though your option’s.


Thanks Aaron.

I just started started a chat, so will see what they say. Any thoughts on using Monzo vs a legacy bank? Perhaps im paranoid, just the money represents basically everything I’ve worked for lol, so trying to be overly cautious.

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Search the help tab in the app for ‘Understanding your limits’.

At the bottom of the article it will say “If you need to make a payment that would go over your limits, please get in touch - we might be able to temporarily raise them.”

‘Get in touch’ will take you to a chat screen where you can ask the question directly of Monzo support.

ETA: Ah, just seen that as I was writing, you already started the chat. Will leave the response up anyway in case it helps other people in the future.


Monzo (and most banks that I know of e.g. Natwest £50k) have limits on daily bank transfer amounts. I’ve been told that Monzo’s are changeable on a ‘request’ basis for a day or two. However, when I have been in the same position and needed to move a large amount of money for a property transaction I have simply moved the money over several days into my solicitors client account as they are the ones who pay the seller anyway.


oh that my be better actually. I could leave my money in NS&I bonds and just move bits each day so I never have all my money in 1 place

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Just check that your solicitor is happy with the arrangement. And, ensure you move money at the right times to ensure you have everything needed (full cash, stamp duty, and solicitor fees) in their account on the day of completion


yes I think you’ve hit the nail on the head. Thats going to be my plan I’ll propose thank you :slight_smile:

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No problem @MagicRiver

I prefer Monzo, i find it works better for me and it allows me to have total control over my finances.

My local “main street” bank branch closed down and for me i have to travel about 50 mins to the nearest branch.

I have kept my “main street “ account open really only due to having a “help to buy ISA”.

Edit: if i could move this to :monzo: i would.


Good support here, folks :+1:


I did this last year without a hitch, I just informed Monzo via chat how much I wanted to transfer and there was a security check with picture and the transfer happened - hope it reassures you :+1:

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Provided you talk to us via chat before you need to take the money out we can help you move large sums of money (£2 mil or less is pretty easy, larger gets more complicated).

The FPS scheme (the bank transfer scheme you can use via the app) places a cap of £250k per transaction, but there’s no real limit per day, you just need to split the amount over multiple transactions.

I would avoid sending the money over multiple days, tends to make it harder for the receiver to reconcile their accounts.

Also please read up on common scams we see, we also have a bunch more articles in the help section of the app. Unfortunately fraudsters are very clever, and know that people make mistakes when they’re doing something stressful like buying a house.


Monzo is fine, just contact them in advance to up the limit