Hi guys,
I am new to the Monzo world and I would like to understand a few things before going ahead.
Basically, my concern is about the switching process. I have my current account with a named UK bank and I would like to keep it open and still using it. I would also like to leave my current standing order and direct debit into this account. My salary needs to go totally into it.
Is there any way that I can use Monzo account separately, so I can decide how much to transfer to (as a pre-paid card)?
The thing is that I would like to still keep my current debit card active and use whenever I want.
There is absolutely no need to close your other account. You’re more than welcome to have as many current accounts as you like from various banks. Here is a link from Monzo themselves talking more about this: https://monzo.com/blog/2018/04/26/more-than-one-bank-account/
Feel free to just sign up to Monzo and do a transfer from your existing bank for the value you wish to move into your Monzo account (you can do this with your Monzo account number and sort code). There are no requirements you have to meet to keep the Monzo account open.
Just to add you mention a pre paid card, Monzo don’t operate these anymore. Every account is a full uk current account but that doesn’t mean you have to use it any different to how you wish.
First, download the app from the App Store (iOS) or Google Play Store (Android). Then, enter your personal details like name, phone number, email address and physical address, scan your ID (passport/driving license) and take a short selfie video - that’s it, you could have an account in ~10-20 minutes, depending on how long the ID check takes. Then, you will have to wait for your card (~1-3 working days). When it arrives, you will need to activate it to start using your account. You activate your card by entering your 16-digit card number into the app - just follow the instructions when your card arrives.
