Issue: I have a personal + business account. I made the mistake of sending a payment to a personal contact from my business account. This mistake was far too easy to make and I think there may be a bug or design flaw.
Details to reproduce: Here’s the very rough flow I followed to make the payment —> I searched my transactions for a prior payment to this contact, I selected the transaction, I selected the contact, I selected the send money option and added the necessary details. I did all of this from my personal account. When I made the payment, it turns out that it was sent from my Business account. This doesn’t make any sense.
OS: iOS Device: iPhone 12 Pro App Version: 5.80.0
Screenshots: NA
As an aside, I also think that contacts should be “ring fenced” between personal and business accounts. E.g. I shouldn’t be able to find and send payments to personal contacts from my business account, and vice versa.
Absolutely agree that it’s far too easy to move money between business and personal accounts, and to make payments from the wrong account.
Monzo seem to take the view that they’re both “your” accounts and thus “your” money.
IMO the only way to transfer between personal and business should be by setting up a bank transfer, and the only payment option from a business account should be to pay from that account. (Similarly if you’re in your personal account the only option should be your personal account.)
Money in the business account doesn’t “belong” to you, it belongs to the business. Being able to make mistakes like this so easily causes real headaches when they do happen.
I’ve reported this to Monzo multiple times now, including formal complaints, but for personal/joint accounts. The same behaviour. It’s absolutely infuriating.
Using the Tap Account > Tap Transaction > Tap “send money to…” flow, there’s no account selector shown, so it’s impossible to know what account the app is going to pick to send money from - it doesn’t pick the one you selected/intended, that’s for sure. Under this flow, it’s not a user mistake, since the user did the right thing and selected the account they wanted, and the bank did something other than what it was asked.
The payment flow where the account selector is shown, is just as buggy. Rather than defaulting to the account you’re viewing/have tapped on, it seems to default to whichever account had the most recent transaction, for any payee. So you can select a personal account payee, send them money, and the money will, at random, come from your joint account despite that payee never having been used there. Utter madness.
Sadly rather than fix these bugs or invite me to walk their development team through reproducing them, they told me this was my own “human error.” I’m going to write to the FCA and would encourage you to do the same.
Just to point it out, if your personal or business account is put under review either because they think your being scammed or because they are doing an inbound payment review both will be frozen. Something to keep in mind as it caught me out