Unable to use overdraft?

We have 1 x personal account for me, 1 x personal account for partner and 1 x joint account.

Both personal accounts have an overdraft facility.

I find it odd that the monzo overdraft facility works differently to the established banks. If we have a zero balance on an account that has the overdraft facility you can’t take that out as cash or transfer a balance to another bank account (including another monzo account).

Why is that?

We found this whilst working out if we could use our personal overdraft to ‘fund’ the joint account to overcome the lack of overdraft facility! We rarely need to use it but now it means we’ll have to split the regular bills between the two personal accounts to use the security of an overdraft.


Be interesting to see the reply

I believe this is partly down to the transfer functionality predates overdrafts so isn’t built to allow a negative balance with an OD and may also impart be because monzos vision is to help you save and manage your money in a way that means you’d never need an overdraft.

However this is just my own views/insights so a Monzo reply would be interesting to hear

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