Agreed
Fair but - to the customer - its an irrelevant distinction. If monzo customers can’t pay in cash because of COVID-19, that’s a pretty huge failing.
Worse still, PayPoint problems have been discussed for years now and, instead of doing anything about it, we’ve had the Plus debacle.
I do sometimes wonder how long monzo will be able to go on ignoring customers who want actual banking services from their bank.
For as long as there aren’t enough of them complaining to make it a big issue. Anything on here these days is a small enough sample size to be easily dismissed I’d have thought.
I can only imagine that Monzo are looking at their entire customer base in relation to this issue, and have calculated that even if everyone for whom cash deposits is vitally important ends up switching away, that’s still not going to be a significant hit on their base.
It’s a very loud issue on the community, granted. But that doesn’t translate to a very widespread issue.
(I have to say, I myself have said to people words along the lines of “If cash deposits are vitally important, Monzo may not be the bank for you.” And that’s OK.)
Who knows. Maybe in the future the risk/reward balance will change and Monzo will sign an expensive deal with the Post Office if they think it means they will significantly increase their active customers. But if they never do so, that would be because they think the reward is too little and the cost too great. So it goes.
Another way of looking at it is to consider that every business ever ignores customers to some extent, anyway. It doesn’t necessarily mean the customer is at all wrong, it just means they’re wrong for that business (like how I’m wrong for Lamborghini because my budget for a car is significantly lower than they sell cars for. I’m not wrong to want a cheap car, but they’re not wrong for wanting to sell premium cars).
I’ve no issues paying in at a PP terminal, suits me for the 2 - 3 times a year I have some cash to pay in, did my research before hand and was happy enough to move my account to Monzo.
I’d imagine the percentage of Monzo customers who regularly use cash is small enough that this issue isn’t even on their radar. Granted that’s not great for the people it affects but this is how any business operates - you can’t please everyone.
I’d echo the above - if you regularly use cash Monzo is not the right bank for you. There are a lot of other options…
I’ll start off by saying I love Monzo and have banked with them for 3 years now.
I recently attempted to pay cash into my account using PayPoint and had to visit 3 different retail outlets before I could find somebody who was willing to attempt it, nobody had a clue how to do it.
I encourage Monzo staff to do the same in their local area and see how successful they are, it can be a time consuming experience.
Please can Monzo partner with the Post Office like so many other high street banks have for paying cash in?
At the rates reportedly charged by the Post Office and at this point where the bank are talking about redundancies, I really don’t see this change as being likely any time soon on cost grounds alone. Of course, it’s also unclear whether the customer base would support what may be a higher transaction cost.
For all of the issues that forum users report it’s not clear how big a problem this is across the customer base or how much Monzo cares to fix it.
Could be a necessary evil in order to reap full rewards of cash deposits from business accounts.
Subjective, but id say alot of businesses wont like to hand over cash to paypoint as if they are topping up a gas card.
Agreed, similar to cheque imaging its a case of why would we waste money bringing it to people when most people are admittingly using their other account to do this and then transferring the money to their monzo account.
Similar to cash deposits i think the pressure from new prospective businesses and all the money they bring in will make both happen eventually. (Perhaps when the paypoint contract is up for renewal?)
I’d expect to pay even more than the current £1 per deposit if Post Office deposits happened.
Just to be controversial, I hope that they don’t provide this service and invest the time, money and effort into other areas.
I don’t need cash deposits and I was fully aware of the situation prior to opening my account. In fact I opened my account before they partnered with Paypoint.
Monzo have a way for you to pay in cash and use cheque imaging - it’s called a starling account.
I joke in jest but as I have said before starling have overtaken Monzo in useful day to day banking now. Monzo with get paid early has the edge for me at the moment but I no longer recommend Monzo to people who ask for the simple reason you cannot use Monzo as your only bank account with ease, Starling I can and do recommend.
I myself manage fine though with Monzo as my main bank account, suits me fine with the services it offers and I’m able to use the amount with ease.
If people want to be able to pay in at a post office then yep this isn’t the bank for them.
An interesting article from the Institute of Chartered Accountants in England and Wales about the use of cash
That’s a big drop! 
Not necessarily, remember many people avoided going out in March even before the lockdown.
More interesting for me was the following which actually showed contactless use fall in London between 2017 and 18 - not something I was expecting:
Just tried to pay cash into my Monzo account at a PayPoint for the first time and it didn’t work…
I had never even considered it before, but I have some cash lying about and noticed a Monzo Plus perk to pay in without the fee. It’s a little frustrating that I’ve tried to use a perk I’m paying for and I have to hop around different locations just to get someone who knows what they’re doing.
I’ve never had a problem myself, used it a couple times.
Did you tell them to swipe your Monzo card?
Nope… I didn’t realise other people had reported issues until I started reading about it afterwards or I would have tried.
They even said ‘I’ve done this before’ but it still didn’t work. I thought maybe it was a problem with the new plus cards but I can’t imagine the tech behind them is any different?
They just don’t want to do it and whatever Monzo staff or the people on here say nothing will stop them refusing it.
Paypoint is not a viable solution for paying in cash my suggestion is get a starling card and use the post office.
Monzo paying in cash via paypoint reminds me of anchorman - 60% of the time, it works every time. The issue is that it knocks monzo trust for the user and it only takes them to spread to the word, and they can’t get that negative image back.
I used Paypoint for the first time the other day in the coop. She kept trying to put the card in the machine but it wouldn’t work and I told her I think you’re supposed to swipe it and boom it worked.
