Transferring Prepaid Balance to Current account

Monzo Chat
22

@DaveTMG I totally see how this can be an issue. I’m not disagreeing with the need of better solution (which Monzo already confirmed, they’re working on it). But I’d like to ask you to be more considerate in terms of ‘feedback screams’. Monzo is facing many, many challenges and I dare to say you (or none of us users, really!) can’t tell what will and what won’t be an issue in a bigger picture.

Sensationalism and unjustified estimations around ‘a lot of support requests’ is your personal best guess. You might be right, but this topic had reached it’s conclusion when @RichardR replied. This issue was raised with a good reason and we got our answer. We now have to trust Monzo, once again, to not drop the ball, and as a Monzo fangirl - like you* - I am quite optimistic. :wink:

* Fanboy, technically.

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23

Dear oh dear anyone would think I’d insulted your mum! It’s a bank, not a religion!

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24

What did you just say about my mum? :eyes:

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25

This is about keeping the focus on constructive feedback / criticism & considering how your comments will be interpreted by others.

You’ve already said that you’re a fan of Monzo - you can help, rather than hurting, that way.

To be clear, being critical of Monzo is encouraged but by definition, it can only help if it’s constructive.

Also, you can choose to ignore us & I’ll carry on pointing out why your comments don’t make sense but I’d rather not have to :slight_smile:

Edit

You made some perfectly valid points in your posts but you’re taking the focus & discussion off them with some of the other comments.

26

I now have a Monzo card and a separate current account. Is there any way to transfer the balance on my Monzo card to my current account, so that I can start coordinating all my finances from there?

27

Not directly. You’ll either need to take it out of a cash machine or use something like PayPal as an intermediary.

Once full Current Accounts are launched it will apparently be sorted out.

28

Are there any benefits in continuing to use the prepaid card? Or should i just use my current account card in future months? :grin:

29

That’s up to you. By the end of the year, the Current Account may be the only one of the two that exists.

30

The only one I can think of, from a functional point of few, is Monzo to Monzo payments - they are not available in CA app yet. Merchant data might be missing in CA app, but that’s not really a deal breaker. I moved all but one type of my transactions to Monzo CA, I kept Ocado payments on prepaid, as I share them with flatmate - he pays via Monzo. Theoretically, I could ask him to send me a transfer, but it would be a bit of a hassle.

31

It will be nice to have the option to not merge the prepay info into the current account

32

There is a way of doing it!

I happen to have 2x paypal account (very important), so paid/ transfer the money from prepaid to secondary paypal account, then transfered it back to my default/ primary paypal account then transferred it direct into my current account (Monzo). There is a mastercard transaction fee, however, which I took on the chin to be able to test the card. It felt pointless having it if I can’t use it

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33

I assume money laundering laws prevent this.

34

Here’s another way I used: use the prepaid account’s debit card to make a payment towards a credit card (or another bill) that you’d normally pay by direct debit from your Monzo current account. Not quite a straight transfer but ends up having the same effect.

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35

This is how I did it…

Screenshot_2017-09-27-06-43-31

I bought a salami

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36

I’m trying to run mine down as well, I underspent last month so I have a bit of money

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37

I sent myself a bill via PayPal for the amount in my account. Lost 3.6% of my balance to do not this way, but it worked …

Should have just withdrawn the majority at an ATM and then PayPal the remainder :thinking:

38

Here’s a crazy idea… if you have £2.23 on your card just send £2.77 via bank transfer to Monzo and then withdraw that £5 leaving your card at zero balance. :upside_down_face:

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39

I am test driving the account and would like to transfer the balance on my Monzo card to my Monzo account card but don’t know how or whether or not this is possible.

40

Unfortunately it’s not available at the moment. You just have to withdraw the money and then deposit it into another bank account and transfer it across.

41

I was also looking for a way to do this