The Next Step: Current Accounts!

I am in the same boat as @tc424 - I am not interested in another current account, I signed up as I really liked the idea of the prepaid card as it helped me budget my money monthly and actually see where it all goes each month.

Do I need to upgrade/sign up for the current account or can I just keep my prepaid card and carry on as I am now?

Please HELP!! lol

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I really like the fact that my Monzo card is pre-paid and I mainly use it for it’s budgeting feature - will I be forced to ‘upgrade’ to a current account and will any of these features then change?

No one is forced to do anything.

You either upgrade to a Current Account and use it as a full current account (with direct debits and salary payments, etc) or you choose to use it as an account for budgeting similar to how the pre- paid is used now.

Or if you choose not to upgrade, then your account will eventually close as the pre- paid gets phased out.

Your choice. Nothing forced.


@wade, @tc424, @umer, @Gemmachalford, @jenik, as various others have said, while the prepaid card will be closing, you can use the current account in the exact same way. All the features of the prepaid card will be on the current account, including the ability to top-up, free POS card use abroad, categorisation and spending targets, and no requirement to use it as your ‘main’ account. Basically, if you transfer to the current account, you can just keep using it like you are now. You shouldn’t notice any difference. What you will notice in the future, is that Monzo have plans to greatly enhance the budgeting features, amongst other things.


@jenik We will eventually close all prepaid accounts completely but will give you plenty of notice and opportunity to switch! The budgeting feature will still remain as part of the current account functionality. Every feature you have in the prepaid app should be in there by the end of the year!


In the (near) future, yes (for ATM withdrawals).

They haven’t put out an official announcement yet, although I suspect this will happen in the next few weeks.

Abroad? Yes. Until they give out further details on costs and timings for when they’ll be implemented then you can use your Monzo cost-free.

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Clarification (as I understand it)

  • For ATM cash withdrawals, yes.
  • For point of sale (Contactless or Chip&PIN) you’ll still get a cheaper conversation rate than most banks, just as you do now.

Exciting news but will I be able to switch my prepaid card to a joint account? Or would my wife also need a prepaid card?

Oh crap - should’ve clarified.

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@nick69g @jzw95 Thanks all for your responses - sorry if I asked a pretty obvious question. That’s really cleared things up!

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Hi, I’m currently using the monzo prepaid card, but as I will be away for some time I won’t be able to get the new current account account card for a while. Will the prepaid cards not work once we agree to swap over? Or is there a way to get my card sent to Austria?


Let’s think of it as teamwork, @leonardh :sunglasses:


Thank lav. See you soon

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There aren’t any Joint Accounts at present, so your wife will need also get asked to switch to a separate Current Account.
@jzw95 posted in another chat a link to all the discussions on Joint Accounts which would be handy to go through.

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Just wanted to chip in another data point that or something equivalently easy to use for other people is super important to me. I might not use it often but I do use it - and not having it would not be good - not everyone wants to use Monzo and lets me get around that for bill splitting

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I have a Monzo Pre-paid card and I’m about to go on holiday to South Africa for 4 weeks and I intend to use Monzo for all my foreign currency needs.
How is the switch to current accounts going to affect me? Will my current Monzo card stop working while I am abroad? Will I be able to postpone the switch to a current account until I return?
Any clarification will be useful as I now have a limited amount of time to arrange for alternative currency provision.

Hmm. Still waiting for a reply. I go away in two days and I still don’t know whether I need to ditch my Monzo.

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This was my only fear so if that’s the case great, sign me up!

Hi guys,

I’m currently using a BETA pre-paid card in Vietnam as I’m travelling around until mid December. I have no intentions of upgrading and I probably won’t use my card once I’m back in the UK (Sorry guys).

Will I still be able to use my BETA pre-paid card as I normally would do until mid-December? Or will the changes have an impact on how I use the card?

Secondly, will any of the changes to the international charges have an impact on me from now until December? As I purposely got the card for the free withdrawals.

Thirdly, if I use my card until December (I got it in September) will there be any inactivity charges once my account is empty and I’m back in the UK?

The card is great.

Thank you for the help,

You can use the current account just like you do now with the prepaid card - top it up from another account and you’ll be good to go.

To answer your questions, they say they’ll give plenty of notice before the prepaid cards stop working so it’s likely that they’ll still be good in December.

Same thing for ATM charges, I would expect this to take several months before they implement it.

No inactivity charges are planned anyway but if you still don’t want to upgrade then once the prepaid cards go away you won’t actually have an account with Monzo anymore. :sob:

I’m glad the pre- paid is going, I’m glad there will be a small % charge for overseas ATM withdrawals. Too many people expect something for nothing and then “jump ship” when they have to start paying.