Switch joint account to personal account

Feedback & Ideas
1

Allow me to use the current account switch service to do this please

It would be much easier than having to close all the pots and withdraw the money - then manually resetup all the standing orders and direct debits etc. You don’t even let us remove a name from a joint account like other banks do.

I have payments that go into this account and I’ll need to manually notify everyone when Cass does that for you.

I think I’m going to end up switching to a different bank, removing my partner, then switching it again into my monzo personal! Please make this easier

2

I’ve only done it once, but does it definitely do this for incoming payments?

All the advice I read was to do your salary yourself with your employer.

3

I suppose one of the hurdles here is that you’re effectively seeking to move two people’s funds into a single account. A conundrum…

Edit: just shows how big a deal opening a joint account potentially is.

Is there any current Monzo guidance around j/a issues?

2 Likes
4

You won’t be able to “just remove a name” from a joint account because that’s not how they work.

It’s done on a user access level which is why you need a current account in order to have a joint account. If you removed your partner then you would have two current accounts and Monzo don’t allow this.

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5

I think CASS only works for switching banks, so you could do that.

Effectively removing one person from a joint account has, I can see, some utility, where one of the account holders wants out of the financial relationship. But it’s exactly the sort of thing that someone who was seeking to exert coercive control might try to do. As such, I can’t see Monzo allowing it, and I’m not sure any other bank does.

6

The whole point of emptying the account before closing it affirms that both people have their money out, thus their could be no dispute that X person got whatever was left in the account when it was closed. Makes sense really.

7

Sort of related… I/we are planning to get a joint account and move bills from my Monzo account to a joint Monzo account, is that more straightforward?

8

If by straightforward are you asking if there is a feature to do this for you? If so, the answer is sadly no.

What is surprisingly straight forward is moving them manually - which is what you need to do. Most of mine could be done online, leaving only ~2 that I had to call up. All in I think it took no more than half an hour to do them all.

I have my own direct debits such as my phone contract, car loan etc that I wanted to keep on my personal account. So an onmass move of all direct debits wouldn’t have worked for me.

1 Like
9

I switched mine manually too with slightly different circumstances.
Started off with Monzo beta (pre-paid) and used it for Holiday spending and Work expenses. Moved to full current (Personal) account when Monzo launched it, but still only used it for Holiday & Work.
Jumped to #fullmonzo when Joint Accounts launched, and manually moved everything from a HSBC account to the Monzo JA, keeping the HSBC account open.

I’d recommend manually moving anyway, as a full CASS closes down the previous account and it may have more value remaining open - the HSBC account is one of my long-term accounts shown on the credit report and continues to provide that, even with a balance of £0

Thinking about it, you won’t be able to full-CASS from a Monzo Personal account to a Joint anyway, as Monzo requires you to have a Personal account to be able to get a Joint account. The :monzo: service/app isn’t geared up for just a Joint account. I wish it was…

2 Likes
10

Maybe I’ll just keep the bills! Have a joint bills pot and one for just mine.

That will also save the “Why do I need a personal Monzo account, just so we can have a joint one? I don’t need another bank for me” :rofl:

11

For better segregation.

You can use the budgeting tools for each account then, your partner has better visibility and can help you manage the bills, you can then have joint savings pots and so on… You can just setup a standing order to move half of the bills money to your joint account and that’s it then :raised_hands:

I used to have it the way you described but it just annoyed me that it messed up my personal finance reports when (for example) it thinks you’re spending £100 on food when it’s really a joint expense :sweat_smile: Then if the bill amount changed, I had to remember to recalculate everything and get my partner to send me more money each month, change the scheduled payment into the joint bills pot and so on…

If you’re happy with it that way then all is good :slight_smile:

1 Like
12

Yes, my thoughts exactly.

13

The CASS itself doesn’t allow it:

I have a joint account. Can I switch my current account?

Yes, as long as both parties agree to the switch and you are switching to another joint account. It is not possible to use the service to switch a joint account to a sole account.

4 Likes
14

Most banks allow this. It’s a fairly normal thing you just both have to sign a form.

1 Like
15

Effectively that’s my feedback. Other banks have a method for you to do this but monzo don’t. Cass would work if it allowed joint to sole but that doesn’t seem to be allowed. Other banks allow more than 1 sole account so that’s the workaround but monzo doesn’t allow that either.

So I don’t think there is a solution without manually going to 10 companies DD page to edit (and at least 1 needs a call) and then informing everyone about payment in details

16

Yep defo does it for incoming payments. Ive done it several times and incoming payments are always rerouted and payees are notified to update payment details automatically. Most banks even process this and update the details automatically. Others send a letter with the new details to the payee.

17

Looks like the only solution to cover all bases is as I thought. Cass to another bank. Remove 2nd account holder. Cass back to monzo sole account.

18

You’re not comparing like for like.

Current accounts with Monzo are baked into joint accounts. Other banks don’t do this.

Monzo won’t allow you to have two current accounts either like other banks.

All of this has already been explained

19

I am comparing Bank A to Bank B. It’s pretty like for like. Monzo could so this if they wished but have chosen to do something in a way that makes it not possible. I’m sure they have good reason to. But as it has impacted me as a customer in a negative way: I’m giving feedback to request it is reviewed.

Fully aware this has been explained, no need to speak to people like they are idiots. Vote it up, add some value in your comment, or move on.

20

There’s plenty of value in all of the comments already given, including my own and my last one.

You seem to have missed the point and now you’re lashing out for some reason.

Good luck with your suggestion.