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 Iβve 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!
I thought (perhaps mistakenlyβ¦) that the Santander app wouldnβt let the change take effect until 24 hours have passed, therefore protecting you in the situation?
Yes. I had to contact Monzo and it very surprisingly took over a month to do - Itβs not a standard process and you canβt do it yourself (would be nice) it has to be done by a specialist team.
If you do this, they advised me that itβll go back to said specialist team if I needed or wanted to raise my limit for something
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