Reverse this connection and allow withdrawal?

[davidwalton (Award Winning Hot Coral Analyst)]

Not sure if it’s just that hasn’t implemented moving money from Monzo to an external account using the Open Banking protocol. It may be more of a restriction (by Monzo) rather than a technical limitation - as in, we want to have your money in our bank, not someone else’s bank. The Connected account icon that you tap on is titled ‘Move money’ - suggesting it can be bi-directional ?

Currently, moving the other way is done via bank transfer: ‘Payments’ → ‘Pay’ → ‘Pay by bank transfer’ or select an existing contact, etc.

It would be nice to have the option to switch direction from that screen though.

(Moving money from Connected Accounts is a Plus/Premium feature)

EDIT: Found where the ‘other direction’ was first raised and responded to - it is technically possible:

Monzo Labs: Easy Bank Transfer

This was something we started looking into when working on the TrueLayer integration, and I think the answer is that it varies depending on the provider. For Amex I think the difficulty is that if you want to pay your card by bank transfer then you need to supply your full card number (PAN) as the payment reference. We’d have to see if the Amex API lets us read that (and whether we’re comfortable asking for customers to share that very sensitive data with us) before being able to build that fe…