Are we any closer to any kind of this works or what Monzo are planning?
I’m more interested in the security aspect. As in if someone gets my virtual card number how much money can they get out my account. On that basis it would only be any use to me if it was limited to the balance of a pot.
May be easier to create disposable virtual cards or allow setting spend limits on each card or allow virtual cards to be frozen.
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I was looking to see if there was an update on making it so you could have debit card transactions also deduct from pots and this was exactly why. I had someone try to phish me a few weeks ago and I recognised it in time but I’ve been keeping a really low balance in my current account.
(Though if I’m to be honest, I was doing that before this experience - I lived in a household with some alcohol/drug abuse problems, so I’d already developed the habit of keeping my money in pots/savings with no overdraft so if someone grabbed or duplicated my card it would immediately decline. I’m a huge fan of the bills pot and would love that to be all my bills, not just DD/Standing order.)
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