I now use Monzo as my main account but find the cash deposit limit to be very low. I feel it should be at least double the 1000 limit to make it better for people who are paid cash as it is a very low limit roughly 38 a week. I want to close my other accounts and just have Monzo so bank transfer is out of the question. It would be good to see the limit reviewed
I was told its set to 1000 to protect people from fraud cases
This is also what I have been told but all other UK banks have a much higher limit. If all other banks have a higher limit why is Monzo so low
If you deal with a lot of Cash, I’d say open a Starling bank too. You can put in £20,000 a day at the Post Office and no silly £1 deposit fees, its free as it should be.
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