Overdraft limit being included within ‘Balance’

(Stu) #1

Guys new member here and so far loving Monzo! I’ve a query / some feedback; As I’ve been in the process of transferring and setting my account up I noticed that the account ‘Balance’ doesn’t seem to differentiate between my cash and my overdraft e.g. my balance showed as £900, it wasn’t clear whether this was a positive balance of £900 or that I’d used £100 of my £1000 overdraft. It seems balance is made up of cash plus overdraft headroom however this can make it hard to tell when you’re overdrawn (especially if there’s a lot of transactions going in and out).
With previous banks it’s been clear when in an overdrawn position as the balance would be prefixed with a minus or DR narrative. It would be easier to manage your account at a glance if you could differentiate, is there any plan to introduce this functionality at all (or is it available already and I’ve not found it yet)?


(Wayne Tsai) #2

Hi Stu,

Thanks for joining us! The balance you see in app does not include your available overdraft balance. If you go overdrawn, your balance in your app should appear to be negative, and the pulse graph should dip underneath the dotted line into orange territory.

I think this image from an overdrafts blog post illustrates what you should see:

Does that answer your question? Feel free to open up chat in-app so a member of staff can look at your account with more context :slight_smile:

(Michael Oliver) #3

Your balance includes what’s in your account and what you have in pots.

(Stu) #4

Thanks Wayne, that makes sense sounds like a noob error on my behalf ha! Thanks for the swift response.

(Wayne Tsai) #5

@Mcoliver88 Your main app balance (the big number on the Home screen), doesn’t actually include money in your Pots. We’ve designed Pots to be something that ring-fences money, so you can’t accidentally spend it.

@BigDing we really appreciate all feedback, even questions like yours help us understand how our customers interact with our services :slight_smile:

(Michael Oliver) #6

I mean the account balance :slight_smile:

(Wayne Tsai) #7

Ah of course, and you are right; we show the total amount deposited with us in the Accounts tab. We don’t include your available overdraft in that total.