I need help with transferring money
It is not possible at the moment with the pre-paid card. When the current account is launched it should hopefully be possible. Until then, if you need to access your money you will have to withdraw it as cash at an ATM and either deposit it at their bank counter or pay it in at another bank where you are able to send it as a transfer.
Thanks it’s fine I’m really liking this monzo bank
I believe this is a much needed option.
At this moment, unless I am missing something, if one loses their pre-paid monzo card, any credit on it will be lost as a result.
no. they will issue a replacement card and you will still have access to your money. you can also log in to your app and freeze your stolen card
I stand corrected then. Thanks very much for the clarification Mirrow. That is some relief!
In addition to freezing the card thru your app you can call email or message customer services and they can cancel your lost card for you.
Freezing it stops it being used but gives you time to find it if it was just mislaid, once it is safely in your posession you can unfreeze it and start using it again.
Cancelling it however is a permanent move and if found after cancellation can never be used again.
I’ve been a Monzo user for quite a while now and have never had any problems with it in the UK, Russia, Switzerland and Italy (touches wood).
The one problem I have had in the past was needing to transfer money OUT of Monzo to another bank account.
This is impossible to do but the way I got around this was to send myself a PayPal invoice, pay using the Monzo card and then transfer the money from PayPal to the required bank account.
According to this post (Transferring Money from a Monzo Account to Other Bank Accounts) this has been an issue for 9 months now.
When will this be added to the account? Until then I can’t feel safe using Monzo as my daily driver account.
You wont have this issue when the current accounts are released
At the moment it is a prepaid card and a beta version at that. When it is a full current account with debit card in a few months time it will be possible then