Robinhood Support

Please be a recognized bank in Robinhood’s list of accepted banks and make transfers between Monzo and Robinhood possible. Currently, it is basically the opposite.

Robinhood uses Plaid for bank verification, so they would need to add Monzo. Plaid basically scrapes data by signing into bank websites as you. Monzo is an app-only bank, which may be an obstacle.

Chime uses plaid and is included in plaid integration. I don’t see why it would be a problem for Monzo. I think with patience and a full roll out we will get all of the normal features you would find with a traditional US bank plus extras. Also considering they are using Sutton Bank as an initial banking partner the chances are even higher that integration will happen by default. :slight_smile:

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This is something that I believe is on the Trello but it’s not going to be working on for a while I don’t think, n26 still isn’t even on Plaid yet for the US. But I am sure it will happen we just have to wait sadly, if took Empower a while to get on Plaid finally as well.

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I know this thread is a bit old, but the new Google Pay uses Plaid for account history integration (so you can see all of your debit/credit purchases all in one place), so that’s definitely a new reason for Monzo/Plaid to get along.

RH uses Plaid, but you could link it manually with the routing and account number. When doing that however, it says the bank is not supported, even though Monzo is using the same “Sutton Bank” that Robinhood is? I don’t even know how that’s possible…

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Personally, I don’t use Plaid integration. As someone who knows a bit about server-side security, Plaid integration looks like a bad joke. You’re granting them full access to your bank account (transaction control, statements, history, personal info, and who knows what else) when all you need to do are occasional transactions.

The US really needs to fix this obsolete banking system as a country instead of relying on banks and private fintechs that want to hoard your data.

Looks like this is about to become more important as they’re trying again launch in the UK: Robinhood UK - Commission-free US Stock Trading & Investing App