From what I remember from my studies minors are unable to make a valid contract for other than necessities. That’s why there are a limited number of banking services for under 18s and certainly no credit cards or loans.
@Birddog They can still have bank accounts with debit cards, exactly the service Monzo offers. The realtime functionality means that Monzo would be ideal in preventing overdrafts. You can also grant minors credit. The contract just wouldn’t be enforceable though!
@tristan How about integration with Quidco for online purchases, so that you automatically get cashback from purchases without having to go through Quidco? Other banks are offering cashback scheme, mostly for household bills, so this would be a nice competitive move…
Not sure if this has already been mentioned, but I find the categories quite restricting. It would be great if they could 1) be expanded on to include this like grooming, drinking etc and 2)you could add your own categories and assign retailers to these categories so the cost is automatically recognised under the right heading.
Please make it (or have the option) that any transaction in the expenses category does not contribute towards your spending for that month. I had to buy something on behalf of someone which was quite expensive, then they paid me back. Now it looks like I massively overspent for the month which is not true. Thanks a lot!
Wouldn’t it be great if I could easily see how much each Monzonaut within a specified group of friends had spent on various transactions after a night out together / weekend away, and then easily calculate how much each person is owed and by who?
Don’t know if this has already been mentioned, but its a common annoyance trying to work out who owes who how much, and more complex than just the Uber-style fare share because of multiple different transactions. Thanks!
Okay, I have some ideas which I thunk wold be really helpful!
Online portal, so I can see what I see on my phone on my computer.
Transfer money out of monzo. So say I top it up £50 every week, at the end of the week, the remainder of the initial top up is transferred to either a separate account or back to my bank account.
Split items. So, if I’m buying something on Monzo, and want to split it, have a button on the transaction, where I can send a monzo.me link, and when the person pays the specified amount, it comes off my spending total - so only my share of the payment is counted on in my monthly spending report.