Timeline on features - US/UK transfer, bank details, pots etc

Monzo USA 🇺🇸
#1

Hey! :wave:

US card is en route and I can’t wait to start testing features having been a bit Monzo UK fan. Few thoughts/questions

  • International transfers. I haven’t got any $ in my US account yet because I need to activate my card to do so, but it looks as if I can transfer money to my contacts that have Monzo that are UK accounts (they have the little M logo next to them). If that’s the case, would it be easy to be able to just transfer to myself? In the short term I can imagine sending money to my friend and asking them to send it straight back to my UK Monzo accounts but seems an unnecessary bypass!

  • Bank account details. At the moment it seems it’s just a prepay account. Would love to get paid directly into it especially when the above feature is enabled. At that point I’d also transfer all of my still active UK outgoing to my UK Monzo account too as I’d truly have a one stop fully international bank account that could handle all my finance needs

  • pots. What’s the plan for these?

:upside_down_face: thanks in advance!

1 Like
#2

Unfortunately not just yet. It’s something that I believe is being worked on though. For now there’s Revolut which offers great value (better when the markets are open) or TransferWise (a bit more expensive and less feature-rich but still great value).

#3

Revolut is weird because I opened my account in the US. So, I don’t have UK bank details yet in my “GBP account”. So the quickest way to send money home is to transfer it to a friend with a UK Revolut account (this is instant), and get them to send it to my Monzo account for me to do whatever with. Odd that they wouldn’t just let you have a real UK revolut account and merge.

Hate everything about Revolut so really excited that Monzo is kicking on . Imagine when I can have all of my bills (both UK and US) coming out of Monzo accounts (maybe Pots even?) and just send money back and forth to balance the books without having to wait days at a time or pay ridiculous fees.

#4

In the meantime, you might want to check out TransferWise. Much better service, more trustworthy, and you can connect both US and UK accounts.

1 Like