I know Monzo supports CHAPS payments for sending large sums. Where do I go in App to get started? And, if needed, how do I access in-App chat effectively? Thanks.
Just need to use the limit increase flow.
Does putting in a large amount automatically trigger Monzo to identify CHAPS being necessary and start the (increased) security that goes with a CHAPS payment? Thanks
1 Like
Is it a house deposit?
Chaps is akin to a faster payment, just make sure the details are correct.
I don’t believe monzo supports sending CHAPS
I will contact Monzo asap to see whether it’s just a payment limit increase or something more specific for (hopefully) a large same day payment.
1 Like
This does suggest that Monzo supports CHAPS payments from a Monzo account.
1 Like
So it does, not sure I’ve noted anyone asking about them. You’d need to ask monzo via the help section.
Comment from 2019 references monzo no longer supporting them.
Seems it’s supported - as confirmed by staff in September 2020
Thanks both. It is odd that Monzo hardly mentions it. It is common enough for big things like buying a house.
We will be contacting Monzo today so I will confirm what we had to do (fully manual or ?)
They do make them on your behalf. this is their reply via chat.
I’d assume you tell them how much, they ask some questions, possibly want supporting documents to ensure you aren’t going to lose your money, and then send from “Monzo Bank” not your own name.
So yesterday afternoon we went on the in-app support function and said that we wanted to transfer a v. large amount of money (>£200K). They increased the limit in the normal way without adding any particular level of security. Perhaps because the money was going to another large trusted financial institution. Money left Monday afternoon (probably after cut-off for same day) and arrived in payee account this morning (Tuesday). So effectively same day even if Monzo don’t brand it CHAPS. Worked well.