The Monzo Extraordinary Ideas Board!


Would be awesome to have a feature where you can limit the spending amount within a given time frame (e.g. for a night out) that is irreversible (i.e. not freezing card)

(Marcus Nailor, Hot Coral Detective) #76

That does sound pretty cool! :smiley: My only thought here is that, say it’s a :beers: night out and you’ve already hit your limit, one might not be in the best state of mind to start increasing a spending amount - Say you ‘increase the limit’ by £10, but you’ve actually bumped it up to £100… You then think you’re only spending an extra £10 but once the next day comes around you’re broke :wink:

Might lul people into a false sense of security - just my 2c :slight_smile:


Hi nexusmaniac - cheers for the response!

So this is the kind of thing I was trying to address when I said it would be irreversible. Let’s say you have a night out planned but only want to spend £20. You set that as the only amount you can spend between 10pm and 8am - i.e. once you’ve set this (probably after an ‘are you sure?’ prompt) you can literally only spend £20; no backing out and no upping the spend limit during that timeframe.

Let the sober mind prevent the drunk mind’s mistakes and make those hangovers a little less painful!

(Might be worth taking out some emergency cash as well!)

(Alex Sherwood) #78

That sounds good in theory, though there are some more potential issues when it comes to practicality, they’re mentioned in the discussion about the concept here -

(Richard Bairwell) #79

As I’m moving more and more stuff to Monzo, I’m having a small issue ensuring there are sufficient funds available. For example, my WoW subscription will be coming out every 6 months at ~£70, I’ll have domain name renewals every year for ~20 Euros etc etc - it would be nice to have a “Recurring subscriptions” option where Monzo will warn you “In about 7 days, a transaction to X for £YY is expected - you do not currently have sufficient funds available” or just “Forthcoming payment: X for £YY around dd/mm”.

(Alex Sherwood) #80

That would be really useful for me too! Hugo’s mentioned that the Pulse Graph will soon display your upcoming recurring payments, among other things which will hopefully address part of your use case :tada:

I’ve put together a list of a few ways that Monzo’s approach to handling these sorts of payments is different (better!) than the legacy bank’s here too -

Hopefully the combination of those things covers your concerns but if you can think of anything else that might help, it’d be great to hear your ideas :raised_hands:

(Richard Bairwell) #81

Well, I’m on Android so I haven’t got the “pulse” yet and with card based payments (such as to Blizzard for World of Warcraft etc) which can’t be on direct debit and may be more “irregular” (every month/3 months/6 months/yearly) than expected for direct debits.

(Alex Sherwood) #82

It’s on the roadmap for the Android app.

Since the functionality that Hugo’s described isn’t only designed for Direct Debits, I’d hope that it will be able to handle less regular payment frequencies :pray:

(Naji Esiri) #83

I’m going to close this thread for now as there a lot of great ideas and discussion points getting lost! Please feel free to pick up on these talking points in new threads, and as ever, keep those extraordinary ideas coming! We’ll be adding to the board as and when with inspired suggestions made by you on Twitter and here on the forum.

(Naji Esiri) opened #85

(Naji Esiri) #86

We’ve just updated the extraordinary ideas board with some of our favourite crowdsourced suggestions! Thanks to everyone who shared their lightbulb moments with us, keep them coming :smiley:

(Richard Cook) pinned #87

(Richard Cook) unpinned #88

(Richard Cook) pinned #89

(Connor Lownds) #90

Hey, I don’t know if that has been suggested before but I think we should be rewarded for Golden Ticket referrals! Like refer one person and you get a golden ticket badge, 5 people you get a £10 amazon voucher, 10 people £25 voucher, 25 people £50 voucher and 50 people a £100 voucher or something like that! Make it worth while people promoting Monzo and referring people!

What’s your thoughts?

(Colin Robinson) #91

Seems to be going ok so far without handing out actual rewards :wink:

(Sam Duke) #92

Hey, I’ve suggested this elsewhere but a fantastic product called Splitwise already exists. You should try it next time you go away with friends. IMO an integration between Monzo and splitwise would be amazing!

(Splitwise does all sorts of crazy bill splitting and loop closing)

(Anthony) #93

Two ideas that would help me alot:

  1. A way to automatically split certain bills with house mates so as the payment comes out, it’s taken from all accounts.

Possibly provide fee free overdraft for the direct debited account for the duration of the transaction being split between users (if arranged) so that the direct debitee only has to hold funds for their portion of the bill.

  1. A way to track who has paid me back for a shared cost. Eg I pay for 3 poeple’s dinner. I send a request. I can now click on the original transaction and see the status of those requests, if paid or not, in the transaction page. Also have a separate screen that shows all outstanding owed amounts.


Would Monzo ever allow users to opt in to paying an annual fee for the current account?

I would personally be up for this for a few reasons:

  1. In the ATM fees thread, the cost per active user per year was put at ~£30, £16 of which was ATM fees. In terms of value, using Monzo has saved me much more than £30 per year.
  2. It would enable Monzo to focus exclusively on serving its users. I am comfortable with the approach to Partnerships so far, but worry that in the future it might become tricky to keep balancing the interests of users and revenue from Partnerships. Similarly, Monzo income from overdrafts could create a perverse incentive to push these out to users.
  3. I care about privacy and worry that, in the future if Monzo lacks a stable revenue source, it might compromise on my privacy.

This might not be for everyone, but I would be interested in whether others would find this a helpful option. It could come with some benefits - e.g., opting out of partnerships or enhanced privacy settings.

(Tom ) #95

+1 for Splitwise. I use it almost daily. Would love to have a ‘settle with Monzo’ link in Splitwise, and a ‘send to Splitwise’ link in the Monzo App.