Pause Overdraft


(Dan) #1

Just about to go on a night out… only want to spend £50… as its all I have in my main account…

However I have an overdraft but I dont want to go into it… so would be good to have a toggle to pause OD’s so basically tonight once I spend £50 it get declined and doesnt go into my OD

Then tomorrow, I can toggle it back off again?!

Anyone else find this useful?

Dan


(Dan) #2

I think you can reduce your limit and increase it on the fly.

You have a shadow limit that doesn’t change which is the max they’ll lend you, but you can change your actual limit as frequently as you like.


(Dan) #3

Interesting… anyone form Monzo confirm?

As long as it doesn’t keep doing credit checks then I will do that!


(#savetheseabass) #4

Yeah that mirrors my understanding of it as well. You can change it whenever you like


((╯°□°)╯︵ ┻━┻) #5

If I was drunk I’d just toggle it back on and wouldn’t think twice :joy:


(Splodf) #6

Tenner bet he wakes up and see two bottles of Dom Perignon on his Monzos summary.


#7

A much better solution, in my experience, is to get another card, like Monese or Loot etc. Then only top up the amount you want to spend - leave your coral at home!


(Josh Lindl) #8

Ive been burned by the ease of toggling the OD on the night out. I would welcome a time limited pause that cant be overridden for say 24 hours


(Josh Lindl) #9

Apple pay still available


#10

I was assuming you’d leave your phone at home and take a burner with you :wink:


(Jamie 🏳️‍🌈) #11

Then that presents problems if you need an overdraft quickly.

Sometimes you just gotta take some personal responsibility. Or take cash.


(Elliot ) #12

I third this, would it be possible to alter your overdraft each month without directly affecting your credit rating etc and the opportunity to go back up. This could be a feature.