Now in Labs: Spending Block đŸ§Ș

Making Monzo Monzo Labs
48

Can confirm, just looked on the latest beta build.

Developer made a typo, easy fix. :roll_eyes:

1 Like
49

I would argue the point of how essential a MacDonalds is :blush:

Some days it feels most essential :+1:

3 Likes
50

Nothing wrong having a maccies in the morning. :blush:

3 Likes
51

Based on some of your feedback here, we can already see the need for more detail in our help article on how this works :blush:

Thanks so much for everything you have shared so far! :pray:

Firstly, the bug with the feed item should hopefully be fixed now! :bug:
Let us know if you still have problems!

Also, there are some exclusions we’ve built in for example:

  • Transport
  • Groceries
  • Financial services, for example credit providers
  • Recurring payments and subscriptions
  • ATMs
  • Essential service providers, for example energy & water

The tool is designed to help with general budgeting and impulse spending so we hope the exclusions feel right to anyone who uses it :crossed_fingers: This list isn’t exhaustive and we’re learning what might work and what doesn’t whilst this feature is in Labs, with your feedback :raised_hands:

We’ll update our help article to include this :soon:

13 Likes
52

We’ve already added some detail in the help article in the journey on what other spending controls we can offer :+1:

This includes blocks and limits on things like bank transfers, ATM withdrawals, card spend :no_entry_sign:

If you go through to the help article - you should be able to see it in a few places in the journey under ‘get support with your spending’ - you’ll reach our Share with us feature which is a direct line through to our specialist team. They’ll be able to set further spending controls up with you!

Let us know if we could make this a bit clearer! :hot_coral_heart:

5 Likes
53

I don’t want to have to bug another team though
 Is there a rule in place that means you’re not allowed to block sending money to payees?

This seems like something that could be self served

54

I can’t seem to see the option if the transaction is made via the Flex card directly :frowning:

55

Same here. I see the option for main account, and vc attached to pot, but not for Flex.

56

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 can’t be blocked
But I have recurring payments (and set in the app as such) for Twitch and Discord but I can block these.

2 Likes
57

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.

2 Likes
59

Just want to add, I tried this at a McDonald’s near my local shopping centre and because it may be because I used Curve the spending block failed.

Looking in transactions I can confirm spending block was turned on for McDonald’s.

So FYI if you use Curve make sure you block transactions after using the Curve Card.

2 Likes
60

Not sure it’s been mentioned here yet but is there a cooldown on removing the block ie 48 hours like gambling?

Apologies if I’ve missed it somewhere in the thread.

3 Likes
61

No cool down for unblocking no

2 Likes
62

The cooldown seems important. It doesn’t 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 haven’t actually used the feature yet. I’m just going by the two comments above me.

1 Like
63

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 you’ve blocked Tesco to stop you buying cigarettes and then you need to eat, that’s a bit different.

5 Likes
65

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.

I’d 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. I’d love to know if using this feature has a negative impact on your options.

66

I blocked TikTok payments so I wouldn’t buy 69p car phone holders. I don’t think that’ll affect my lendability.

Is lendability a word?

4 Likes
68

Surely frauded is simply the opposite of defrauded, you know like flammable and inflammable. :wink:

But to stay on topic, they’re 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.

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69

I should block Aliexpress

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70

Spending block has been in Labs for just over six months now, so I’d love to hear: have you used it? how did you find it?