PayPoint Shops don’t know how to process cash deposits

I’ve had a similar issue before where the guy serving me had no idea what I was talking about.
So I just said it was a prepaid card and asked him to swipe it.
It worked after that.
It’s not ideal, but it’s not a big issue. If you start with “I’ve done it before at another PayPoint” they’ll understand all PayPoints offer the same services, so it can be done;)

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He clearly couldn’t figure out how to input a custom value and as I couldn’t go behind the counter I couldn’t help him. Kept telling me to go to the Post Office. There are other ways to deposit, it’s not worth the bother.


Or another option, you could use it as partial (or full) payment towards your next card purchase. EG a weekly grocery shop :slight_smile:

Indeed. Given the limits on deposit amounts there probably is no need for it at all. Just spend it. Like many others, I was simply curious. I like to try new things to see if they work.

Yeah there’s nothing wrong with that at all, just giving you another option that’s all :slight_smile:

I’ve never deposited cash into my Monzo account and probably never will. It’s rare that I get it and if I do I use it towards the next purchase as I’ve suggested above or buying my lunch with it etc.

Obviously this can’t work for everyone, plus if Monzo are offering the service it needs to be on par with all their others :love_you_gesture: All feedback is good as Monzo keep saying :sunglasses:

I am a paypoint retailer and I am going to try help by explaining a few facts.
Firstly I have never had any notification regarding Monzo payments however using paypoint isn’t rocket science and most things can be dealt with fairly quickly and easily. There are 2 types of PP machine, I can only speak of the older yellow box style.
Firstly our machine costs £10 month (£10 week if iPad type of machine)
Retailer commission is capped at 10p per transaction.
Business bank fees are 70p per £100
Hopefully this will explain why a lot of PP retailers really don’t want to take this type of transaction. I would love to know how much Monzo are being charged by PP as retailers are being fleeced.
So if you come in to the shop and want to pay £100 onto your Monzo, I get 10p commission but I am charged 70p by my bank for depositing the cash. (I need to stay in business)
Over 90% of my PP customers do not purchase anything in the store, so no way to cover the costs here. I am really not surprised by the fact that customers are being told these type of transactions ‘don’t work’ especially in small independent shops, we simply can’t afford to take these payments.


Thank you for explaining that. I won’t be using it again


Could you break that charge down - is that per cash deposit or per £x that you deposit or ..?


Most business banks I’ve used give you a free threshold usually between £1 & £2k per month before charging around 1% per £100 deposited over that limit.

I used £100 Monzo deposit as an example so my bank charges 70p for that. It charges 70p per £100 banked so that’s 0.7%.


Where is the advantage for you in providing the paypoint service at all (not just Monzo cash deposits)?
Seems a total pain in the ass


Paypoint seem to think that the fact you have to bank the cash isn’t their problem and they also claim Pp customers spend more in store, this is not true in my case. It gets worse though, they have reduced their commission steadily year on year and we get less commission for utility payments. Now we see councils passing over rent and council tax payments saving themselves money. I am removing my machine as soon as the contract expires. PP earns millions in profit as small shops suffer.


The whole PayPoint thing seems to get more and more ridiculous. It seems Monzo didn’t have the customer or anyone else in mind with this decision.

I disagree completely. If it worked properly it would have been a masterstroke.

As it turns out the opposite has happened and it has been a washout.

For me it’s always seemed like one of those ideas that’s great on the whiteboard but bad in practicality, but difficult to prove either way without the hindsight we have now.


I don’t think Monzo is to blame going with Paypoint, as Codf said, it looks good on paper but in practice there have definitely been some issues although I haven’t personally experienced them. PP have more locations and (once retailers figure out how to use it) it is quick to deposit money. I’ve only deposited cash in 2 different shops as well as the one I work in, and didn’t have any problems after telling them how it works.

PP definitely sounds like a shit deal for the retailer and I wouldn’t really want Monzo to support their practices but it’s not them who decides how much commission the retailer makes and I doubt them stopping using PP would have any effect as PP makes most of their money from people getting gas/electric anyway.


They could have predicted all of the issues if they had conducted thorough experience testing.

If it looks good on paper, they should have checked it worked practically before launching such a substandard service. Most people won’t ever use it, I assume, but it detracts from an otherwise pretty great service that Monzo provide.

This is one of the issues - the majority of customers who experience issues will not be able to tell the retailer how to do it and will leave.


I’m not sure if you have said previously but what sort of shop do you have? Thanks for all your insight.

I work in a medium sized service station/petrol station style shop that also serves as a grocery for the local area and I find that the majority of people who use PP do spend a fair bit in the shop too. I’m sure this varies a lot depending on the style of shop, I’d imaging that smaller convenience/corner shops suffer from what you are describing.


Shouldn’t you be looking at ways to convert more PP customers? If they’re not spending it’s because you’re not providing something they want or need other than PayPoint…

As far as I’m aware there has never been a bank where you have been able to deposit money via PP so it would be kind of hard to do any sort of research.

The closest thing would be pre-paid debit cards and the way you top them up using PP is the exact same although they aren’t as popular as they used to be and I’ve only come across them a few times where I work.

I wasn’t using Monzo back in the pre-paid days, were you able to top-up using PP or was it only with card?

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It wouldn’t have been hard as staff could have gone to a large number of stores to test it, small customer trials could have been conducted across the country to highlight issues.