Terms and Conditions

I see the new terms and conditions contain a definition of full monzo. My wife and I have Monzo current accounts. We also have a joint account. We meet the criteria for paying money in to our current accounts and our joint account.

The joint account has standing orders set up - but no direct debits.
Our current accounts don’t have any direct debits (we pay our mortgage from the current account with our mortgage provider).

Are standing orders considered “full monzo”. If not, does this mean you will start charging me every time I withdraw my money from a UK cash machine? I read a £400 a month limit?

Everything is in the email you just “read”

First £400 is free, 3% after that if you don’t meet the criteria.

I don’t have any direct debits (other than the mortgage which comes out of other bank account). For the amount of money I deposit into Monzo each month, a 3% fee to access it, is a joke…

…and a 1% fee when I receive money from overseas. Is the interbank rate going too?

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So you want all the benefits of Monzo but don’t use it as a bank? You don’t pay in £500 but take out £400+ in cash?

If you get paid in to Monzo, set up a PayPal DD that never collects and you’re sorted.

@Revels I see you deleted your reply - but I think the charge does apply to me. I don’t have any direct debits. To meet the criteria you must pay at least £500 in, and have at least one active direct debit.

You have a house/bills and not a single direct debit? No gas, water, electric, sky, tv license, insurances?

Less of the snark @Revels. Read what I wrote - I do use Monzo as a bank. I pay a lot of money into my Monzo account (all my income). I use it as my day to day bank.

I don’t have any direct debits.


Then if you take out £400+ a month in cash, set up a direct debit. Sorted.

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I pay all my insurance premiums annually. I pay my TV licence annually. I don’t have Gas – I’m off grid. I pay the council tax bill in full when I receive it. Water is a flat rate (no meter - I should probably get one) and I pay the bill when I receive it. Internet - I get that for free. Don’t have Sky, don’t want it.


What about electric?

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Batteries and PV. Use so little grid electricity… what I do use, I just pay for. If I were to direct debit it, it wouldn’t be a monthly payment.

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Do you have a credit card? Set one up for that, or PayPal or to one of the robo investor things that never collected.

Fair play.

What a way to live!

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If you’re worried it will cause you issues, setup a £1 DD or something? https://www.onepounddd.com/

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That’s an idea! £1 a pop - I like that. They must be doing mega volume to accept money via Direct Debit :+1:

I have a credit card - but use it very rarely. I keep it for the section 75 protection.

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Set up a DD to pay it, it doesn’t actually have to collect. Save that £1!

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ah - so ‘active’ just means available - not that it collects?




While I understand where the £1 DD site comes from, I can’t help but think that if you’re willing to spend a few pounds to have an active direct debit, why not set up a DD with a charity that matters to you, so at least you’re assured your pennies are doing some good?

(Obvs if you don’t want to spend anything at all then the DDs that are active but will never collect are the ones to go for.)