Overdraft For Joint Account

[pshores (Peter Shores)]

Nationwide do

[chris6 (Chris)]

Thanks for the idea of using a separate bank for an joint overdraft!

I’m starting to come to the reality that i’ll have to move away from Monzo due to the lack of joint overdraft/additional card holder for flex.

[LampEnthusiast]

Another plea for an overdraft for joint accounts. Even just £100 would help with a little buffer for groceries. I’m amazed this isn’t offered to be honest, this is the only significant bugbear I have with Monzo’s offering.

[SeanDavidson19 (Sean)]

They’ve only gone and done it! Received an email - From today, overdrafts are now permitted in joint accounts. I’ll be cancelling my RBS joint accounts and activating my Monzo one now. Thank you Monzo!

[Ordog]

Yep, announcement is here:

We’re working on joint accounts!

Hi everyone I’m Katie, the Product Marketing Lead for borrowing here at Monzo. I wanted to share a quick update on the number one feature you’ve asked us for on joint accounts: Joint account overdrafts are now live Why are we launching joint account overdrafts? Most people use joint accounts for bills and shared costs. When money comes in at different times, or payments go out earlier than expected, it can be stressful - especially when you’re managing money together. So…

[GonzMonz]

@SeanDavidson19

I’ll be cancelling my RBS joint accounts and activating my Monzo one now. Thank you Monzo!

Before you do that, did you see the feedback?

Joint account overdrafts

The max overdraft on an account is £2k, so it’s probably the limitation here. Same with Lloyds, I had an overall overdraft limit I could split how I choose over my Lloyds accounts.