Simple Questions Thread (Newbie friendly 🙂)

(Robin John Scotter) #483

Many thanks

(Andre Borie) #484

Monzo doesn’t do business accounts yet - they’re exploring the possibility but nothing confirmed so far.

In the meantime I can recommend Starling Bank.


Will Monzo offer credit cards?

(Only available in amateur ) #486

Always been a firm no but things change so who knows in the future :woman_shrugging:

(Sue Stevenson) #487

Hi, I’ve no idea if I’m in the right forum thread for my question but from what I’ve read, I’m probably older than your average user. I am travelling abroad early next month and my son has strongly recommended getting a Monzo card to use as ‘currency’. I don’t want a full current account right at this moment although I am considering it for the future, I just want a ‘debit card’ I can use instead of cash. Please can someone direct me to the link to apply for such a card. I’m not a complete technophobe but I am concerned I’ll end up with something other than a simple ‘cash card’. Thanks in advance. Sue2.


Hey @Sue2,

Monzo only offer a current account right now, but you can easily sign up for it without an overdraft, and use it in the same way you’d use a cash card (taking advantage of the fee free foreign spend).

But… If you didn’t want to do that, you could use something like Revolut, which is a slightly different animal, although could work equally as well for you.

If you liked using your Monzo card abroad, you will find the same benefits when you use it at home (instant notifications, budgeting features, slick app etc etc).

Feel free to ask as many questions as you need, there will always be someone here to help :smiley:

(Sue Stevenson) #489

Thanks Nickh. I’m happy to open a current account but will it mean I have to transfer all DD’s, SO’s etc or can I just make the necessary application, put pounds sterling in the account and use it . I’m cutting this really fine and may not even get a card in time for my travels but my son has highly recommended it so I’m giving it a try.


You won’t need to do any of that - You can literally open the account, and keep all of your old current accounts (with DD’s and SO’s) nice and comfortable with your old bank.

You can then top up your Monzo account using a bank transfer, and use it as a “pay as you go” type thing if you want.

It’s dead simple, and if you sign up today, I reckon you might even have your card by the weekend (maybe… don’t quote me on that!)

When do you go away?

(Sue Stevenson) #491

31/12. Perfect. I’ll go ahead. Thanks so much for your help. Sue2

(Colin Robinson) #492

And where are you going to? There’s some excellent advice in here in the travel forums :airplane:


Very nice! Have a great trip! :smiley:

(Tom) #494

Maybe your son can give you a referral link, too, to get you a free £10 from Monzo!

(Robert Smith) #495

I have been using Monzo for 12 months or so. Is it possible to credit my account in Euros now, to spend in February or March? I want to lock into the current exchange rate as it will probably go down as Brexit approaches.
What does Monzo have that can help me?


I’m afraid that Monzo is just a £GBP account, so you can’t hold €EUR or other currencies.

Products like the Transferwise Borderless account and Revolut will do what you want, though. There are threads on here with folk’s experiences of them both.

(Robert Smith) #497

OK, thanks


My budget period is reset today. Now I find that any categorised spending from the previous period is set as the budget for the current period, even though I did not set a budget for these categories.

I’ve tried to set these to zero for the current period but I can only reduce the amount by £5 at a time and if the original amount is not multiples of £5 then the category is left with a budget amount of under £5. I now have several categories with budgeted amount of £4, £3 etc.

Surely I must be missing something here? If I set a budget for a category then repeating that for next period is fine but if I have not set a budget then there should be none for the next period, regardless of previous spending.And I shouild be able to remove budget amount whether I have set it or is has been automatically set.

( related to Monzo CEO, Investor in Monzo ) #499

you can disable the individual category in the “budgets” , by pressing the category in the budget list and "disable xxxx budget " for this month ? would that help ?


Thanks, that clears the unwanted budgets from the spending list. Am I going to have to do that every time the period resets? Surely not. There are only a couple of categories I want a set budget for.

( related to Monzo CEO, Investor in Monzo ) #501

I would assume - don’t know never tried - that once you have disabled the category, the next month that category would be 0 in the next month - unless you spent during the month in that particular category as it then becomes your budget in the next month ?? - but as I say don’t know as Ive never tried it :slight_smile: - good luck


Ok, thanks for that. Guess I’ll find out in due course. One more question. If you set your budget start date by selecting a recent incoming payment is the amount of that payment used to set the total budget amount in the future, assuming the payment is a regular one? At the moment I just input the amount manually.