Please keep the prepaid cards


I asked my other half. Her main benefits of pre paid are (1) limits discretionary spending to a subset of current account and (2) the peace of mind that if you lose it /its stolen then in the period of time before you realise its gone (when as it were someone is on a contactless spending spree on Oxford Street) your total losses are limited to what was on the card.

So if die is already cast some way of addressing these issues in a different way would be a good thing for a customer-centric bank (pace can’t please them all all of the time).


(Alex Chamberlain) #10

Found this posting a similar idea to the Ideas forum. I also think it would be great to keep the prepaid cards; it’s great for traveling, untrusted websites/shops and (I imagine) it would be a great way to give kids money too.

(Martyn Thomas) #11

The prepaid cards are a huge deal for my friends and me - many of my friends joined Monzo because it’s a ‘simple’ prepaid card to aid their budgeting.

Having a separation between my main income account (bank) and my spending (Monzo) is a huge help.

I’d happily join the current account if the pre-paid account also existed to aid with budgeting/separation.

Please keep the pre-paid card, and have ability to have more than one card per account (one current and one prepaid)

(Jonathon) #12

I would be surprised if they did, given the added complexities that they won’t need once the current account is launched.

If I were you I’d just treat it the same - just transfer the money you want to spend over to your Monzo account and… spend. It’s not really different to now.

(Simon B) #13

Sorry Martyn - we won’t be keeping the prepaid card past the end of this year. It adds too much operational complexity for very little benefit and the program costs a lot to run.

There’s absolutely nothing to stop you from treating the current account in the same way as a prepaid card though - ie, not having your salary paid into it, not having any direct debits, and transferring over money from another current account for spending.

An Apology from Monzo
Don't Go, Prepaid Card
Will Monzo Continue To Offer Free ATM Withdrawals Outside the UK?
(Marta) #14

Well, there are no requirements to have monzo current account opened. In reality, all minuses of prepaid card go away, like downtimes caused by third party companies, prepaid card sometimes rejected and lack of FSCS cover and you get some bonuses like bank transfers (which you may or may not use, up to you).

What aspect of current account could stop you from using Monzo’s current account in the same way that you use prepaid card now? Even tops ups will remain as functionality, if I remember correctly. So you can have your current account in ‘boring’ bank with your income, and current account with Monzo for spending, same thing really, right?

Having more than one card, virtual cards and spare backups had been discussed in various topics though - but all of them in context of having them on current account eventually.

I’m on that other side :wink: , prepaid card cannot go away fast enough, because debit card and current account is so much more functional, not to mention doing all processing in house (I trust Monzo to do a better job than third party companies in terms of bugs and downtimes).

(Matt birch) #15

Will mondo be issuing new cards and the previous card will stop working all together? Does anyone have a date by when this will happen?


I would like to know when new debit cards will be issued as I go away early November for an extended time and would want it with me. Can I ask to be first in queue.

(Alex Sherwood) #17

It sounds like that’s what will happen -

No we don’t, you can of course be sure that Monzo will give users who don’t want to switch plenty of notice in advance.

(Bob) #18

Prepay cards will be phased out by the end of the year, by which time we should all be offered current accounts.

(ChrisG) #19

I use my current accounts like this at the moment:

  1. My salary goes into one account, all bills by direct debit go out of this account.
  2. There’s a standing order the day after pay day into me and my wife’s joint spending account.
  3. We top up Monzo from the spending account each month and do most of the spending on that.

Having a Monzo current account will replace our spending account, not the salary and bills account. Separating spending from fixed bills makes it a LOT easier to budget, and not overspend each month.

It also means I can leave that debit card at home and never use it online or in shops. Which means if someone steals my spending card for any reason, my mortgage and bills carry on getting paid just the same. I’d recommend the same approach to anyone, it’s easy to set up and will save you a lot of hassle.

(Rika Raybould) #20

No date set yet.

It will be a migration over time, you do not have to immediately accept the offer but we will progressively push it more and more until that currently undetermined cutoff date. You will receive plenty of notice.

(Ammie Johnstone) #21

Absolutely agree, but not only for budgeting. I love the Monzo card for travelling, load up with your set budget then you get the best MasterCard exchange rate that beats most of the cash exchange rates, which I am never organised to pre arrange anyway!!

(Amelia Ikeda) #22

I feel like the usage style of the :monzo: prepaid card can definitely be solved with the “Money Pots” (separate accounts) mentioned in a sneak peek not too long ago :raised_hands:

(Jamie 🏳️‍🌈) #23

That’s a very ‘legacy bank’ way of sorting your finances, when you take a look at how :monzo: Monzo plan to help you budget and spend within the same account.


For people that have direct debits coming out of their account on, say, the 1st, 5th, 22nd of each month, having everything go through one account can use a lot of mental energy. It means ensuring you have enough to cover each DD at each stage of the month. It doesn’t let you mentally categorise your money; i.e. “this money is for spending, this money is for saving, this money is for bills”.

A solution might be; you could have all of your money in one account and just display the information differently - so you could tell Monzo that £23.99 is coming out on the 15th - so make sure you keep that amount available, and don’t let me spend it. Don’t even let me see it!

Or Monzo could even take it from you on payday and pay it for you when it’s due in the background - that would be very cool.

(Amelia Ikeda) #25

I have a lot of plans for this with API integrations, and two of them are:

  • :moneybag: “spend the penny” saving pots
  • :european_castle: Direct Debit ring-fencing

The latter is something I want to do automatically; a direct-debit mandate is visible (and I hope will be via the API), so you can automatically ring-fence all of your direct debits on payday :tada:. I feel like (or rather, hope) Monzo will implement a few of these ideas themselves :eyes:


Just wanted to add my +1 for keeping the prepaid card. Absolutely love it and gutted you aren’t planning to keep them.

(ChrisG) #27

I think direct debit ring fencing would work for me too. That’s exactly what I’m trying to achieve by having a separate spending account. Looking forward to seeing how it comes along :slight_smile:

(ChrisG) #28

Perhaps it is, but said features do not exist yet (and I don’t even have the Monzo current account yet). I will reevaluate periodically obviously.

Also, I trust Monzo, but I’m also not going to throw all my eggs in one basket immediately. Not being able to pay my mortgage is a big deal and one I like being protected against (I also have an overdraft in my salary account which I don’t use much, as a safety net).

It feels fine to use two accounts for awhile, given the comments in the forum about quite a few companies not accepting the Monzo sort code yet also. It’s a new bank - there will be teething problems.

I think banks like Monzo are probably in the future, but I don’t think you get to call old banks “legacy banks” until you have beaten them in the market for customers. Monzo only have a tiny market share right now. Though I expect it will get better, most people I know still bank with the same bank they did as a child!