Switching to Monzo - Help

Hey guys, so I’ve been with Monzo since the start (pretty much), and I’ve been waiting for the Switch service to come available, and now it’s finally here, I’m tempted to move to Monzo fully from Lloyds Bank, who I’m currently with.

Now, I’m just looking for some advice/help, as I’m only 21 and just want to be pointed in the right direction. So, as mentioned, I’m currently with Lloyds Bank and have a savings account and Help-to-Buy ISA, so if I used the switch Service what would I do with those accounts? Should I keep them both with Lloyds? (The ISA is a must I guess). Any advice would be helpful.

In terms of the Switch, all direct debits, standing orders and even my salary is converted automatically, is that correct? or do I need to contact payroll at my workplace?

Any people that have switched, I would like to hear your feedback and maybe give some reasons why I should change & some DO/DO NOT’s would be cool too :grin:

Much appreciated,


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Also, in terms of the future, when I’m looking to buy a house/car etc etc. - Would I be able to use Monzo for this sort of thing with no hassle?

I can’t comment on exactly what Llyods’ policy is for having several accounts, I know that with Natwest I don’t need a current account to continue using my ISA & the app. But I have a friend who isn’t allowed internet banking (with HSBC or Halifax) without also having a current account with them. :thinking:

Assuming Lloyds are semi-decent, you will be fine to CASS to Monzo and leave your other accounts setup exactly as they are :slight_smile:

You are correct! I would inform payroll just to be on the safe side :slight_smile: It would work without that step but it’s best that they know.

I switched :tada: But manually, before Monzo had CASS :stuck_out_tongue_winking_eye: I have been a happy #fullmonzo’er for 15 months now, I’d highly recommend it. I can’t think of any CASS specific holdbacks so go for it and share how easy the process is :grin:

Depends what you mean? You will be able to purchase anything up to your daily limit, e.g. £10,000 (if you contact support they can up this limit temporarily for large purchases)
But Monzo don’t offer mortgages, etc. if that’s what you were asking :slight_smile:


Okay, so for example, may salary usually goes in the 25th of the month, so guessing it may be too late too change now? If I went for CASS, what would happen if my Lloyds is closed down, but the wages still try to go into that account?

And in terms of Mortgages etc - Does that mean I need to keep a Legacy Bank like Lloyds? In addition, am I able to keep a Lloyds account open, even if no transactions etc are going through there?

Any money into your old account after the switch gets redirected into your Monzo account.

Technically you could not inform payroll and still get paid into Monzo but it’s always best to tell them when you can :slight_smile:

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Is it possible to do the CASS without closing your other bank? In my case (Lloyds), or would you recommend that I did this anyway?

So regardless, if I did the switch today, then my pay would be in on time for next week’s salary (23rd)

It’s not possible to leave the account open if you use CASS

If I’m honest, I would recommend leaving your lloyds account active as a long standing account looks good on your credit file.

If you don’t have too many direct debits I would do it manually (at least you know you can keep your ISA etc.)

I was quite surprised how many I could do online

But then this means doing the payroll and all other direct debits and standing orders manually too doesn’t it?

Hmmm, tough one.

Yes it does :slight_smile:

It’s not that much work once you start :wink: and like @GarethTheNerd said, a lot of it can be done online now :grin:

Okay, any idea on the following (which can be done online or not):

Barclays Partner Finance
Zebra Finance
3 (phone company)
JD Gyms

Would you advise that the first thing I do would be to change my salary to Monzo, then do the Direct Debits. My worry is, is that it’s too late to change to Monzo via Payroll, as I get paid next week…

Barclays - not sure
Zebra - not sure
3 - yes
JD - not sure

What you’ll want to do is head to your account page for each of those services and look in the payment section (if available) :smile:

This is why CASS is quite beneficial :wink: there’s no need to worry about the order hehe :grin:

This is what I did when I was manually moving my DDs. You can do the opposite and it’ll work out the same.
I left my salary where it was for the first month and began switching DDs to monzo, I moved most of my money into monzo anyway but left what was needed for DDs which hadn’t yet moved in my legacy account.

If you want to move your salary now, you’ll need to ask payroll :grin: I was able to move mine over a couple of days before payday but your company might have a different policy - I don’t know :yum:
It’s a couple of weeks before your payday so I don’t see why they wouldn’t be able to :grin:

Once your salary is moved, you can continue to move your DDs and SOs manually. But if any of them don’t move prior to them being taken out of your Lloyds account, be sure to send an appropriate amount back to your Lloyds account! Don’t want any late payment fees :see_no_evil::see_no_evil:

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CASS should leave the other accounts (savings & ISA) untouched so go for it!

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Would you recommend just going for CASS instead then?

Does anyone know if I can use CASS with Lloyds but keep my Help to buy ISA with them?

I do have a savings account too, but guessing I could create a Monzo pot and use this instead?

I would use CASS, yes :smile: it saves a bunch of hassle and gives you guarantees that if anything goes wrong it’s the bank’s fault - not yours :grin:

I’m also pretty sure that you’ll be able to keep your help to buy ISA, I’d recommend giving it a Google to be sure, or email Lloyds? :smile:

Savings pots in monzo will give you 1% interest if you have £1000+ in the pot, else you will have a pot with no interest :slight_smile:

Okay great, so if I did the CASS today, I don’t need to do anything? And my salary will go into Monzo next Friday (23rd) ??

I’ll google it now, and regarding the Pots that’s better than what I get I think, I only get like 0.5% or something with Lloyds Easy Saver.

Last point regarding Mortgages and stuff (excuse the inexperience) - so to get a Mortgage I still would need to go through a Legacy bank like Lloyds?

CASS takes 7 working days, by the 22rd your switch will be fully completed :tada: your salary will be in your monzo account on the 23rd and your standing orders and direct debits will be there too :grin:

I’m glad to hear that monzo’s rates are better than your current savings rate!

If monzo’s marketplace expands in the future you might be able to get a mortgage via a monzo partner. But but now you would need to look at a legacy bank, like Lloyds, for a mortgage :grin:

Okay, sounds great, think I’m going to go for it.

And in terms of Monzo for direct debits etc. - everybody is now accepting these and nobody is rejecting?

In terms of my standing orders, so I would keep my ISA in and let CASS transfer this over, and then I would cancel the standing order to my savings, and create a Pot instead?


You can pay any mortgage through any bank account, it’s just a direct debit. However, Monzo aren’t listed on all credit reference agencies so my advise is keep a legacy account open so when they are doing their checks an active bank account will be found.

There are a few ways to do this, whilst you have your Lloyds account open, open another one. This will be a new one and stay active. Then CASS out of your main one.

That leaves your new Lloyds account open and will mean nothing changes with your ISA.

I hope that makes sense :sweat_smile:


Ahhh okay - sounds like a good idea.

So just make a new Lloyds account and just put a few £ in there, to keep it active?