First, great work on the TransferWise integration. I sent my first transaction yesterday to a hotel in Germany and it went through a a treat.
Some really nice to have a for me would be:
Have the ability to put in how much I wanted to send in the destination currency. I ended up logging into TW and adding my euro amount to work out what I needed to send to cover fees
Have an update/feed within Monzo saying how the transaction is going.
Appreciate this is a new feature… so no rush… Just nice to haves
The ability to send in destination currency is something they should have added from the start. I love Monzo but omitting this is a half baked solution!
Half baked? Monzo? Surely not!
And the fact that it doesn’t pull through your existing recipients from your Transferwise account, meaning you have to manually enter all the details every time - but then when you do it creates duplicate recipients in Transferwise (which you still can’t see in Monzo).
I don’t think it should have been released like that.
Personally I’m all for minimal viable product and agile releases. Being able to send directly from my Monzo was a big win for me… A few pain points at the moment… But no show stoppers.
Will be good to see it evolve
No, it’s a good thing that things are moving and I’d rather have it than not.
I just think that the minimum level should have been a basic screen that shows your Transferwise recipients and allows you to quickly select and send to them, all from within Monzo. That’s what I was expecting.
I still don’t even have access to the screen
Nope not yet, no screen no IBAN
Sadly using transfer wise as the only way to make payments means I can’t use Monzo for my international transfers. The intermediary bank I use in the states requires that transfers be done from an account in my name via a SWIFT transfer, neither of which can be done with this setup. I appreciate the beauty, simplicity and cost saving of using transfer wise for typical international payments, but as an everyday current account need the features banks offer currently (such as SWIFT) in order for this to be my main account. Even if those features are an optional route that is reprioritised over using the transfer-wise default. I also need a real IBAN. Great work on it, but I don’t think international transfers are really “done” until we have at least the features that other banks offer.
Still don’t have this screen
Mine only appeared about a day or so ago, not that I have any plans to use it.
I just realised this was available and it’s such a great addition!
I echo the already mentioned points:
- Being able to set what you want the recipient to receive and calculate what you need to send automatically to cover the fees is crucial. Something that the transferwise web does really great.
- Getting the list of recipients from Transferwise will also be a nice addition. It would even be more amazing if Monzo showed the contacts that you already have in Monzo that have transferwise linked to facilitate it even more.
So interestingly yesterday when I opened the international transfers screen I got a notification saying that TransferWise was down for maintenance and therefore the screen wasn’t available. However, after I pressed okay the international transfers screen still loaded. The only obvious difference was that there were only 2 currencies.
Stil… don’t… have… this
There’s a slow rollout and then there’s slowwwwwww
It appeared in my app and I’ve sent $$ to aus and had a confirmation from recipient within 24 hours… excellent!
I would work on the basis that if you want it… ask for it.
I think they are taking it super slow (and they probably already have enough people on it for now).
Supposedly there is more functionality coming to it as well - But yeah, definitely ask for it if you need it.
Will you be passing on TransferWise new fee? Or will that just affect their borderless account?
For reference - This is the fee @anon40728597 is talking about.
It just effects their borderless account.