I’m aware that using a debit card to move money to the Monzo account has costs associated with it. I understand that Monzo want to reduce those costs as much as possible by asking customers to use bank transfers where possible. But…
I started with the pre-paid version of Monzo and was happy with that. I didn’t mind the change to a current account as long as I could continue to use Monzo as I had before, as a stand-alone top-up and use account. Indeed it was stated a number of times by Monzo that we didn’t have to use the current account facilities and could continue as before.
I have a long established ‘main’ bank account which I will not be transferring. For a number of reasons I do not have that bank’s app. on my phone, and use web access at home when needed (which is not often now I have Monzo). So transferring money to Monzo by bank transfer is not a couple of taps on the phone.
So I usually use the debit card to pull money into my Monzo account rather than contact the bank at home to push money to it by bank transfer.
Now if there was some other way to move money from my bank to Monzo instigated within the Monzo App which had lover charges than the debit card I’d happily use that.
Is it possible to set up a variable direct debit from Monzo to my other bank? Obviously outbound direct debits work so how about inbound? Would this be lower cost to Monzo or not?
Otherwise I will have to continue with the debit card and put up with the nag screen!