Overdraft Feedback

Hey all :wave:

You’ve hopefully heard the exciting news that we’re now beginning to rollout overdrafts to as many people as possible. To get one, you’ll need to be eligible and have an upgraded current account.

A quick refresher on the main details:
The overdraft will cost 50p each day that your account is overdrawn. There’s a £20 buffer, so you can use part of the overdraft for free. Charges will only kick in once your account balance is below –£20.

And remember, overdrafts are totally optional :slightly_smiling_face:

If you’re interested, keep an eye out for a message from us telling you that you’re eligible. And once you’re up and running, we’d love to hear your feedback :heart:

What do you like about them? What don’t you like? What was clear? What was confusing?

:point_up:️ Share your answers in this thread, and the team will take it all on board.

For feedback on pricing specifically, it’d be great if you could use this thread instead.

And if you run into any problems, let us know using this template :point_down:

  • What were you trying to achieve?
  • ​​Why were you trying to do this?
  • ​​What got in the way?

Thank you! :heart_eyes:


I’m still very much ready and waiting to give feedback. Just need the overdraft to do so :joy:


A lot of feedback here on this :slight_smile:

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Thanks! I’ve linked to that in the OP. This thread should ideally be for non-pricing feedback. Ease of use, points of confusion, etc.

Good call splitting them, both relevant but very different feedback types.

I think it’s great, it’s really handy having the comfort knowing that the overdraft is there if Direct Debits go out etc, and then can shift across to cover the overdraft before the end of the day.

I think the separate notification is a bit annoying, it’d be nice to have the option to either turn it off, or to potentially have it included in the notification of spending that pushed me over the limit.

The £100 limit is plenty at the moment too, initially I wanted more but it’s there as a safety buffer.


@cookywook are we going to be able to apply for an increased overdraft limit? :eyes:

You won’t have an overdraft unless you actively switch it on from the Account tab in your app

I assume this is only there once you’ve been approved?

It also mentions ‘Switching it on in the account tab’ here: https://monzo.com/features/overdrafts/

  • Approval process is astonishingly quick.
  • It’s very clear with what I’m getting.
  • I like that I can move my overdraft up and down as I wish.
  • It’s nice to see what the costs would be if I was actually in the overdraft.
  • I’ve had my account say within the £20 buffer to see what would happen. It doesn’t nag me about that.
  • I had a warning that an upcoming payment would put me into my overdraft :+1: and a recommendation to put more money in my account if I could.

Great to have an overdraft in the occasion you mismanage your money, but don’t want transactions being declined.

Signup was extremely simple and presen Action within the app is great.


I applied
I got notification
I chose how much I wanted (guessing predetermined limit)
I ‘read’ some stuff
I got overdraft

Didn’t think I was gonna get it to be fair but I did, well I ever use it, I doubt it but it’s nice to have.

Hold on, how have you got the overdraft already? :scream:

Coz I didn’t want it lol


Yeah, your are right, I really really don’t want one either. I like playing the lottery of remembering to transfer money from a pot so the next day it will cover a direct debit. And don’t want anyone to offer me something that would make this easier.

Think that’ll do it :face_with_raised_eyebrow:

Quite a few people already have it. If you don’t, it might be that you’re not eligible for it … if you’ve applied … or it could be the pace it’s rolling out etc. :man_shrugging:

I really don’t know how I got it tbh, I applied I got.

Asked many times and you are right it could be. But no notifications are given for someone not eligible while the preview is being rolled out. You just have to patiently wait and hope :man_shrugging:t2:

His would surprise me if it was the case but based on the prudent offerings it’s entirely possible.

1 Like

Applied as in preview? Or as in the option to apply suddenly appeared?

I did notice a button briefly appear between pin and freeze on the account tab but to quick to see what it was. Is that where they put the button or elsewhere?

Applied in app, it went to a google thing and I put E-Mail then waited.