Weāve already added some detail in the help article in the journey on what other spending controls we can offer
This includes blocks and limits on things like bank transfers, ATM withdrawals, card spend
If you go through to the help article - you should be able to see it in a few places in the journey under āget support with your spendingā - youāll reach our Share with us feature which is a direct line through to our specialist team. Theyāll be able to set further spending controls up with you!
Looks like you are using hard coded logic for the recurring payments/subscriptions, with user set ones not being considered.
Eg, Netflix and YouTube Premium canāt be blocked
But I have recurring payments (and set in the app as such) for Twitch and Discord but I can block these.
Actually I would love to see this feature spin off into a way to stop recurring charges if I wanted to.
Some providers are quite sneaky with cancellations requiring a phone call or chat, and sometimes they may not even honour the cancellation request. I would love an easy way to block such scrupulous providers from taking money from my account.
And yes I know I may still be bound by a contract etc, let me worry about that.
The cooldown seems important. It doesnāt have to be a long embargo. Greying out an unblock button for (7am tomorrow - current time) hours would allow sleep to fix some forms of impulsiveness and would also take care of food. Nobody still wants a kebab by dawn.
I havenāt actually used the feature yet. Iām just going by the two comments above me.
All any sort of cooldown will do is increase support requests to turn it off.
Nobody needs to gamble (Ignoring the addictive part of it) but when youāve blocked Tesco to stop you buying cigarettes and then you need to eat, thatās a bit different.
My concern here is that Monzo might see block spending as a sign that you are struggling with finances then decline you for other products like a loan.
Iād personally use it to block merchants from taking money out of my account but it might be seen to the bank as negative against the customer. Iād love to know if using this feature has a negative impact on your options.
Surely frauded is simply the opposite of defrauded, you know like flammable and inflammable.
But to stay on topic, theyāre more likely to look at your balance and overall cashflow (which they have access to, after all) than at what vendor you block.
If you consistently have an overdraft, that will count a lot more than blocking yourself from spending on high-end chocolate brands.
I never thought I would use this but after a subscription from Weight Watchers that I didnāt want anymore and their website saying I couldnāt cancel and was locked in for 8months I thought Iād try it. The block worked and weight watchers canāt get my money! LOVE IT!!!
I havenāt personally used it beyond a test go, but Iām reassured just by it being there. Iād love to see this fully rolled out as part of the core experience. For me I think itās more about protection than curbing my spending.
Works as expected. Blocked TikTok shop for a bit of friction to stop buying cheap plastic Chinese tat then found a phone holder for a quid that I had to have so unblocked.
@JonH itās a nice feature, but without a cooling off period it makes it pretty useless. I appreciate thereāre many use cases, but would it be possible to add an extra feature where on request we can also add cooling off (and ideally decide how long for)? thanks!
