RBS app Open Banking: why no Monzo option?

From my point of view you’re not full monzo if you have another bank account or a backup account but I’m sure that’s already been debated. Most people in the UK only have one bank account.

I don’t think any fintech bank like monzo who is focusing on making monzo everyone’s main account should be spending time adding a feature like this.

Oh. Every bank wants to see how its customer is using the competition. All that lovely data it wouldn’t normally get to see from your other bank accounts, so it can cross–sell stuff.

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The official definition of ‘Full Monzo’, from what I recall Simon saying on the forum in the past, is having your salary or bulk of your income paid in to your Monzo account. It has never been intended to mean you shouldn’t have another account elsewhere.

I was never a fan of the term myself precisely because of the disconnect between the intended meaning and the apparent meaning, as you so amply demonstrate. Not least because for the first few years (particularly when the account was still a pre-paid card, and in the initial changeover to current accounts) the messaging was always emphasising that you could open a Monzo account without switching or closing your old account.

Most people in the UK only have one bank account because banking used to be hard, and because incentives for opening a new account usually require you to switch and close your old account, which gives the impression that you’re only allowed one. With the advent of fintech, I think the percentage of people in the UK with more than one bank account will go up and up.

Indeed, there’s probably a number of people on this forum who have at least four accounts - legacy, Monzo, Starling and N26 - for example.

Finally, it is in the interest of fintech banks to embrace open banking. The easier they can make it for people to try them, the more likely they are to gain new customers.


From my point of view, I couldn’t care less about being “Full Monzo” or not by anyone’s definition/interpretation other than my own. Monzo serves its purpose for me as my current financial hub in conjunction with my other personal finance applications.

Their focus is to make money work for everyone and Open Banking is intended to be a big part of this for the consumer. This logic you have I find odd.


In my Barclays app I can also only see limited banks

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Interesting. I find it puzzling that challenger banks are behind the curve on this :face_with_monocle:

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As odd as this sounds maybe they were left out of the club. Even though its opensource it might not be truly opensource…

But, as you pointed out earlier, that’s only one of the possible reasons for this. I’d be quite interested to know the answer.

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Same situation with the HSBC Connected Money app. It only offers the better-known high-street & supermarket banks, credit card providers and NS&I. It doesn’t offer the smaller building societies either, such as Principality, who have a number of branches around Wales and the borderlands. Suspect it is a size issue rather than a conspiracy against challenger banks…


Maybe they’re scared that they’ll encourage more people to try out the challengers (and then potentially lose customers) if they put the likes of Monzo and Starling on there :eyes: :grinning:

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My understanding is that we comply with the Open Banking standards and then some.

i.e our API is more sophisticated but the basics are compliant with the standard. I’m sure there’s some more nuance than this - equally I may be missing some context but the issue isn’t a technological one.


Is there a central hub for open banking or is it a web?

If and in that case, then i personally think it’s anti-competitive for them not to include neobanks.

Any plans on Monzo allowing this functionality so I can add my accounts to Monzo instead?


In that sense then it would be impossible for me to ever be full Monzo, based on current offerings. Some of their products are vastly inferior, or just simply missing in comparison with the competition.

In my opinion using Monzo for everything banking, and ignoring features Monzo does not have at the expense of competition is illogical.

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It seems like it according to this blog post:

Quote from post:

  • Visibility of more of your accounts in Monzo . We’d like to give you a way to see all of your financial life in one place, even if those accounts aren’t with Monzo. This could cover things like credit cards, other savings accounts, or even your mortgage.

To a degree, but don’t expect us to become a full aggregator overnight.

What we’d like to do is look into the use cases and the things that our users really want and probably run some small scale tests to see if it makes sense for us. For example, let’s say there was a large demand for seeing Amex in Monzo. What would that look like, and how could we leverage it in a meaningful way that solves a problem?


One of the better user mock-ups I’ve seen, if only…

I think you raise a good point. It’s early days for account aggregation at the big banks but in its current form at least for me if doesn’t solve anything (that I can think of). Some of them actually confuse me (to much going on). Sometimes it’s nice to have a little differentiation similar to pots.


Agreed. It feels incredibly pointless in a legacy app - they’re not really doing anything with it but showing.

I feel like Monzo could do some pretty simple things with the data made available that would be really useful.

Exact amounts for direct debit with credit cards. These would then show in Committed Spending more accurately.

Knowing that money transferred to a savings account is what it is and that I’m not just transferring money to a random person.

Things like that.


There’s a Monzo+ idea for you. If you’re able to get third party bank accounts (well, credit cards for me) connected and then expose them through your API so I can keep all my accounts updated in my spread sheet, I’d pay a monthly fee for that :grinning:

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Whilst I agree solving problems is one way of thinking and developing, I disagree that aggregation in of itself is pointless. It’s been imposed upon incumbents for a reason (one would hope a good one).

It may not necessarily solve a problem per se, but it provides enhancement for the user in terms of providing them a portfolio view of their disparate finances in one place. With such info, it could help the user make better decisions. This alone is appealing enough for me and why I was disappointed not to see Monzo, Marcus and NS&I in the RBS app.