Peer Support/Guardianship

There are some people out there who could really do with learning the basics of financial management. To this end if a feature were available for peers to support their friends or family, I truly believe some sort of countersigning for transactions would be useful to teach budgeting and prevent fraudulent scams as a basic component of a Monzo account.

This seems like functionality which will be built for business banking to give different people in a company different permissions (eg: company director has to approve payments submitted by other users which are above a certain amount).

I imagine the functionality could also be brought over to current accounts.

When someone is no longer able to manage their finances independently because of old age, mental incapacity or other illness etc. you can get a power of attorney to allow to you manage the finances of the others accounts. This is a good option as its a well established system.

If they are just young, you just need to teach them to be sensible and let them make their mistakes.

What kind of use-case are you thinking of in this scenario?


I don’t believe it needs to be so official. For some people (children included) it would aid the the community and encourage independence.

Children and more so Individuals with ASD

I agree this would be a useful idea. There are a couple of other threads that relate to this:

For children maybe Monzo could do a better child account than what’s currently available. I think some have some controls requiring a second signature, but not for everything.

People with ASD, i guess your maybe thinking of impulse control problems resulting in impulse buying?

I could see maybe a feature where you voluntarily allow other people to approve your spending, though there’s issues (what do you do if they don’t respond and you’re at a checkout? That would be stressful).

If someone was that bad with money, you could still also do a power of attorney.

I guess Monzo could let the person pre-request the ability to make the transaction and then the “guardian” could approve it before the purchase - just like you can request higher limits temporarily by going through customer support now.