Multiple cards for family members

Could we have a feature that enables multiple cards for children and family members to be managed from the application. So we could top cards and manage spending with children or elderly family members.

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While that may have made sense with a prepaid card, the prepaid cards were only for beta testing the app. Now Monzo is a bank when it replaces the prepaid card with a debit card it will no longer be appropriate for a full current account where card holders require full KYC and AML compliance.

This is an area that Monzo’s apparently got a lot of ideas about.

Here’s Tom’s comment on Monzo providing accounts for under 18 year olds -

https://community.monzo.com/t/monzo-card-for-under-18s/1689/6?u=alexs

bearing in mind that Monzo’s expecting to be ready to start providing current accounts by the end of Q1.

My guess is that the shared pots functionality that Hugo mentioned here & here which is probably this card on the roadmap, might provide the functionality that you’ve described or could at least be adapted to provide it. You can already do P2P transfers between Monzo users so if the family member had their own card, funding it wouldn’t be a problem.

Just to give you a slightly better sense of what to expect, Monzo’s not planning to offer ‘conventional’ joint accounts. And based on the discussions that I’ve seen, it sounds like Monzo want to come up with a digital solution (for want of a better phrase) in the app, as opposed to creating a dedicated type of bank account for this sort of thing.

My guess is that everyone will have their own cards with their own funds, then join a group which has a shared balance that everyone can deduct payments from. Members of the group might even be able to see the details of each other’s transactions & / or a spend by category summary - or it would be great if they could anyway :slight_smile: in fact, if you imagine the Targets page

but with family members names (or different bills for the pot shared by students) instead of category names, that might be what Hugo was hinting at, when he said that -

& if you look at the design of Targets, from the API it looks like there is some flexibility built in, to enable them to be used with other things, besides categories (although this could just be future proofing of course)

:thinking:

I would also like to see an early adoption of young persons (from 16 years) to be able to get an account, limit the account with no overdraft until they are 18. My son who is just 16 currently banks with a legacy bank but I’d love him to start with Monzo as his iPhone is permanently glued to his hand, and I hate the bank his Mother has chosen for him!! He is also travelling to Russia next year and the USA the year after so if Monzo were to offer no foreign loading on their current account that would be of huge interest. Please get a young persons current account asap (but not before my full blown adult one!). Think of all the people you can sign up for good, catch them young and save them from a lifetime of dreadful service at a high street bank!!

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