PayPoint Shop don’t accept Monzo card

Or use Paypoint :confused: :man_shrugging:

How about:

“MONZO: you knew how they handled cash deposits but signed up anyway, despite it being completely unsuitable to your needs”.

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I couldn’t give a monkeys personally! I seldom deposit cash myself. And I have a second account anyway. The issue is, everyone I try and recommend Monzo/full Monzo to laughs hysterically when I tell them you have to pay to deposit cash!

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Of course they do.

Pretty commonpace in the world, but this is where you’ve really got it wrong. You don’t have to pay to deposit cash with Monzo, you have the choice to do so if you want to do it.

Or, get this, you can open a bank at any other bank in the UK and let them subsidise an expensive part of the retail banking on your behalf, with their established network of branches, or sunk costs with the Post Office, that banks, such as Barclays, are desperate to leave as it’s so expensive.

Capitalism.

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How about,

Monzo: it’s OK to have joined Monzo for the majority of the positive features, but still wish that this one worked without friction too?

I don’t understand why there’s so much umbrage in this thread because people want cash deposits to work better than they seemingly do right now.

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I’m ok with how that’s worded. I think it’s the wording that bugs me to be honest :laughing:

Poetic licence, yes OK they don’t literally laugh hysterically. But essentially their reaction is negative. It’s a basic banking function that is free for literally every other bank in the UK (before you say it, I couldn’t care less about banks outside of the UK!) but not for Monzo. People vote with their feet. I’m saying it’s genuinely put off at least 7/8 people that I know from moving their salary to their Monzo account. They use their Monzo for holidays and nothing else. They’re essentially leeching off Monzo and causing Monzo to haemorrhage money paying for their foreign transaction fees and making no money the rest of the year when they’re at home! Monzo has said clearly it makes more money when people are full Monzo. And people aren’t going full Monzo because of silly things like this. It’ll cost Monzo more money than it’s saving in the long run.

Most people want 1 account, they don’t want to fart around paying in money to one bank and then opening that banks app and then transferring it over to Monzo. We’re fine doing that cos we’re a bit nerdy when it comes to this, but they just think ‘What’s the point?’

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But it’s a sunk cost fallacy you’ll haemorrhage money both ways. One isn’t free. They both cost money.

I would wager, zero travel fees (bring fairly unique) is a good marketing tool to get people to test out the app, as opposed to free deposits at the PO, which would attract frankly no-one on its own.

I get that it’s a basic banking function to some but there’s around a million (circa 30% and growing) people with their salaries paid into Monzo now. If it’s true and not further exaggeration, your 7/8s of friends are a statistical anomaly, fact.

We’ve already established a post office deal costs Monzo anywhere between £7 to 10 million and a complete reissue of cards. Unfortunately Paypoint, as shit as it is, is all we have to play with, until Monzo starts making money.

Then I’ll join you in the trenches.

:see_no_evil:

It is unique, or it is not, there is no middle ground. There are plenty of options for zero fee cards.

That does not mean that those 1 million do not have a legacy account to pay cash into (which is, of course, fine). Which in turn means that we don’t actually know if lack of cash deposits is holding back others from going full Monzo and having their salaries paid in.

I think the current solution with Paypoint is poor, luckily it does not affect me as I am not paid in cash, and I rarely deal with cash. If I was paid in cash then I would not be a Monzo customer.

Maybe the challenge to people who are not paid cash, but don’t want a bank where you can not deposit cash easily and for zero cost should be ‘how many times have you paid in cash to your bank in the last 12 months, and what impact would it have on your life if you did not pay it in?’ There will be some people who say they sold their car for £5k and were paid in cash which is fair enough, but I bet the majority would struggle to answer and justify themselves. It is just something different to what they know, and that is what they are scared of.

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Most post offices open saturday mornings.

The problem with paypoint is that my local shop is payzone and has a post office but the nearest shop that has a paypoint is 7 miles away. (It’s on my way home from work so not that much of a pain)

I just use starling for the few times I need to pay in cash and move it over.

lol …works for me , I have the coop for a joint account , Lloyds for a current account , a credit card from capital one and a Starling account , yet I spend all my money through Monzo , I have all the facilities I want from different providers :slight_smile: I would like all the facilities to be available through Monzo , but they aren’t at the moment, I can wait . I tried going on the coop community forum to demand better location services for my transactions but was rebuffed

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People aren’t going full Monzo for all sorts of insignificant reasons, there will always be something.

Post office deposits isn’t in the top 10 most requested features on here, in fact it has just scraped the top 20! People would rather have a dark coloured app instead of “easier” cash deposits. Says a lot :rofl:

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We know that the user base here is not representative of potential customers though.

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very true , where would you get the true answer to what is stopping people go full monzo , dark screen ? cheque imaging ? cash deposits ? important for some , not so much for others - it isn’t necessarily one thing or another just because we shout about it a lot on the forum - and that’s doesn’t detract from it being important to the person / persons shouting about it .

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Some pay point users are just incompetent. My local corner shops told me I’m “talking gibberish” when I asked him to put money on my Monzo card. I usually go to the Co-op as they can top up there and usually a little friendlier.

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I know it’s a pain for some but why not have a legacy account where you can use online banking to transfer money to Monzo? In addition you can pay in cash & cheques at legacy banks or use the post office. Finally, any online banking transfers to Monzo hit the account instantaneously. Seems a no brainer to me & the reason why it would be foolish to go full Monzo.

Can we just scrap this foolishly stupid phrase. It has no actual meaning and in most peoples minds is fully compatible with having other current accounts (as far as i can tell from reading here).

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It is the way Monzo have marketed “#FullMonzo”, no need to blame people Mike.

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It’s really not.

Or rather, yes I agree Monzo have adopted the phrase but the meaning is all over the place. For what it’s worth, the Monzo version definitely encourages other accounts.