Today I had the displeasure of being told by various different PayPoint venders that they don’t accept Monzo, or that You can’t pay in money to Monzo.
One shop said their machine “isn’t working” but was then told Monzo charges them for the service. Not sure who is telling the truth.
I wanted to know if there were talks or an agreement for Monzo users who would occasionally need to put physical cash into their accounts to use the Post Office.
Below are the paypoint vendors who didn’t had an issue with Monzo.
Some of the old PP machines don’t have a swiping function which is the pink machine that looks like a card terminal but only buttons and a electric key don’t
However the new touchscreen yellow&blue ones all accept it but many don’t know how or dont want too.
Post office will be 100x easier and safer incase the clerk from the shop steals your money
It’s always been stated that Post Office access will require new Debit Cards to be issued and the last time it was talked about in detail was around the time that the PO were renegotiating (higher) charges for this with the banks.
We know Monzo and the Post Office have talked to each other and we know that no changes came out of that at the time. Whether there’s a chance of it ever happening in the future? We know nothing.
The last ‘official’ position on this was when @tom was in front of the Treasury Select Committee, see below. Unfortunately, that was on 5th February 2019 and not much has happened to do with it since. I wouldn’t expect anything anytime soon.
Q192 Charlie Elphicke: Mr Blomfield, would you bother doing a deal with the Post Office, or do you just think, frankly, “We’re on the internet. We’re on the telephone. We do not need any kind of branch or physical presence”?
Tom Blomfield: We do not currently have a deal with the Post Office. We are in discussions and there is a possibility that we will, in particular for cash provision. The withdrawal or paying in of cash is declining, but it is not going anywhere in the near term. For the vast majority of other services, our customers prefer to use a mobile app, which is open 24 hours a day.
and
Q246 Chair: Does Monzo charge people who want to put cash in their account? Is there a charge for that?
Tom Blomfield: I apologise; yes, there is. We have two fees that I should mention, both related to cash. Cash is expensive. Depositing cash is a £1 fee using PayPoint. We are in talks with the Post Office and there will also be a small fee for using the Post Office. For withdrawing cash in another country above £200 a month, again because it is expensive, we charge a percentage fee.
And what fee should they charge per deposit? Last discussion had the Post Office charging Monzo more than PayPoint and we know they pass the PayPoint charges on to the customer.
Edit: Should say the ‘charge’ was what we on the forum understood to be true, not a formal quote from a document of anything.
Saying something ‘should’ have a feature is easy but life isn’t that simple most of the time.
If you’re Premium it’s free
If you’re Plus it’s £1
If you’re not £5 if the amount is under £500 if you don’t cover the eligibility
Shouldn’t really be charged a fee in my opinion for that
And the definition of this is a part of the problem.
I don’t support charging for cash use in any way but I’m also not automatically in favour of anything ‘having’ to be provided free for any reason other than legislation.
In the abstract, telling someone that “your business has to provide this service and pay for it” should be reserved for very specific circumstances. Outside of that, I guess I lean towards letting the market decide.
What kind of evidence would you like to have? Video? It can take up to 10 minutes to go onto your account as stated so if you leave the shop and it’s still not been added then if you go back to the shop and complain what stops them from telling you that you’re lying and ignore you
A news agent near me got busted by police for backpocketing every paypoint and gas top up. So theirs a possibility they just steal the funds and not actually deposit it
