Santander has added a new function where you can customise the amount that can be transferred out of your account within 24 hours. I think this is a really good security feature especially nowadays where I’ve heard some criminals force you to transfer founds out under duress.
Would it be possible to have the same function on Monzo? I think it would be a pretty good (optional) extra security step!
You can ask monzo to do this for you by reaching out to them.
Being able to manage this in your own account may defeat the object in sense of being mugged, just increase it and off you go.
Seems moot personally, and better controlled from the bank than the customer from a security perspective.
I didn’t know that! That’s good to know.
I thought (perhaps mistakenly…) that the Santander app wouldn’t let the change take effect until 24 hours have passed, therefore protecting you in the situation?
Just tested it out. You’re right, you can increase the limit instantly on the app with immediate effect so it’s actually pointless.
It’s probably more for high value purchases IE a car or house instead of having to wait for the bank to do it for you.
I just heard back from Monzo who said they contacted a specialised team which has advised that they can only increase limits, not decrease them! 
Aye it is a specialist team that can do it, frontline won’t know how.
The specialist team has said they’re unable do it too!
To reduce your daily transfer limits?
Someone here managed to do that recently.
I didn’t wanna name drop 
Yes. I had to contact Monzo and it very surprisingly took over a month to do - It’s not a standard process and you can’t do it yourself (would be nice) it has to be done by a specialist team.
If you do this, they advised me that it’ll go back to said specialist team if I needed or wanted to raise my limit for something
Specialist team - increased limits = fraud
Specialist team - reduce limits = vulnerable customer team
Can imagine the first colleague sent it to the wrong specialist team when it need go the other specialist team who do other specialist things.
They certainly can decrease them, they did for me, they passed me to a vulnerability team, I think due to what has happened in my case. must be on a case by case basis
Right I see. Thanks for letting me know! I think I’ll leave it as the process seems too complicated to do just for peace of mind!