A couple of suggestions for ways that refunds could potentially be dealt with from Simon -
I’d like to see option 2, as missing transactions (option 1) could cause confusion for some users. Option 2 maintains the complete, visible record of all transactions & solves the spending / targets etc. issues
When I get a refund on Monzo, it is counted as a positive change in my spend. E.g. If I spent £200 for the month but I got a refund on that £5 transactions I did, Monzo will recognise that I actually spent £195 that month.
This is not the case for users payments (from Monzo users or non-Monzo users paying me via the Monzo.me link). Many times because of how easy it is to pay someone via Monzo when I buy tickets or anything that should be split, I usually pay the whole amount and then my friends pay me back through Monzo or Monzo.me links. It’s just easier. The issue is that my spending report is now constantly incorrect because it doesn’t account for payments.
E.g. We are a group of friends going to the movies. Let’s say a ticket is £10 and we’re 5. I’ll buy 5 tickets and my four friends will pay me back £10 each. Monzo considers I spent £50 while I actually only spent £10.
I would love to see this feature added too! I love my new Monzo card but having paid for hotel bills etc and then split with Monzo and non-Monzo pals, Monzo told me my holiday spend was £550ish, where as it was actually nearer £300. I look forward to this getting sorted