I do that too but I’m told by FD that it is likely to trigger anti fraud checks because that’s exactly what a fraudster would do to check they have an active account.
It’s funny that you mention that, that’s exactly what did happen to me when someone stole money from my legacy bank’s account, via PingIt. But obviously it wasn’t flagged by my wonderful bank
I’d understand a debit from the account, after a credit’s been made, being blocked because of this but not another credit though
That’s an interesting point, so far I haven’t been called out by my bank for doing it. It I will be more aware.
This doesn’t fully cover your use case because I’m guessing that the feature I’m about to describe will only work when sending money to other Monzo users but it’s fun to think about..
When Tom was asked about the fact that it’s awkward to send transfers, at this month’s open office, he did say that they’re working on this but he didn’t say “we’ll enable you to save payee details” which seems like the obvious answer or at least, it does if you’re a legacy bank.
I’m hopeful that Monzo will figure out a way to replicate the prepaid card’s P2P transfer feature, which doesn’t require the user to enter any account details for the payee at all & instead, you simply select the user who you want to pay from your contacts
In the interim, we’ll soon have an option to click on a feed item for a payment you’ve made, and you’ll be able to quickly make another payment to those same details without having to enter the sort code and account number everytime. This is s short term solution while we build out the way we actually want it to work.
Love the mockups. Can I just suggest a few additional spending categories that I’m needing now that I’m using the current account as opposied to the prepaid card?
- Pension Payments
- Loan / Debt Payment
- Transfer to other savings/investment accounts
- Actual Bills (ie Utilities, Electric, Water, Internet, Mobile)
- Family Care (ie money sent to Family Members each month)
Obviously these type of payments were never part of my prepaid usage.
At the moment I just bung these all into ‘Bills’ which isn’t great. I’m trying to keep ‘Expenses’ for actual expenses I pay for at work that I intend to claim back.
I certainly wouldn’t be able to use Monzo as my main current account if there was no option to remember payee details.
Personally being able to select someone in my contacts to pay as suggested above wouldn’t work for me as a lot of my family/people I pay don’t have Monzo( mostly not interested in it) so I’d still need to be able to store details of some kind
IDEA (from Monese App) you could also have an option where you click on a payment you’ve received, and you’ll be able to quickly make a payment back to the sender of the incomming funds. Example a friend sends you money from 12-34-56 12345678 as a loan, you can click on that incomming payment and it gives you an option to send money back to them
On top of this, I have payees which I need to send payments to every so often who are not in my contacts list and I don’t want them to be (e.g. a wholesaler that I occasionally order from and pay).
In some cases, combining payments with my contacts is great (e.g. when paying/requesting money from my partner or friends). But in others, my list of payees on my current account is a distinct set of businesses and people who I transact with, and have no place within my contacts or my life in general.
When I joined Starling, I was hoping for a better way of managing payees etc, but no! Anytime I want to create a new payee, I cannot complete the form without paying an amount, whether now or later… just like a legacy bank… and now it’s the same flow with Monzo I do appreciate it probably is the most simple way of achieving it.
I think the pay functionality is great and that it lists friends with accounts. For me you should be able to merge new payees in this same field. Just when you hit pay you are givin an option of how.
So if @hugo was on my friends list because he has a card but I also have his Barclays details then when I hit ‘pay’ it gives me the choice. And if I set up a new payee that doesn’t have a account they appear in the same list and pay goes straight to the details. When on the payment screen you can always have the option of ‘add new details for payee’.
I think it would keep the payees section nice and clean.
Remember it’s still a preview. I’m pretty certain that Monzo will integrate faster payments with the contacts list
I have made 2 payments to same person. Each time I had to type in details. Assume a future update will rectify this. Otherwise card is getting a good road test in Glasgow at the moment!
I certainly hope that it’s possible in future, if our brick banks can store payees, I’m certain Monzo can do a better job. Both remembering recent payees and the option to add them as favourites would be nice, incidentally.
A version of this is on the way
I’ve moved your post here to keep all of the discussion about this idea on one place.
The one I really would like it a ‘Savings’ option in the spending category.
I sent money from Monzo to my external savings account and had to list it as a general transaction.
+1 for that and any sort of between account transfer. Would be great to avoid logging movement of funds back and forth as spending.
Here’s Monzo’s solution
If you have any feedback on the design, please share it in that so that the team can see & reply to it all in one place and we can avoid users repeating each other’s ideas