We’re crowdfunding up to £20,000,000 and we’d love you to be part of it!

(John G Smith) #534

Hi there, I have committed some amount for investment since the pre-release for the previous investors. I changed my mind and would like to amend the initial amount that I committed.
However I got told, its impossible to change the amount since the you have already taken the money out of my Monzo account. My understanding is that it’s a crowdfunding campaign, the payment won’t be taken unless you reach the funding target / goal. So I’m really surprised that the money has already taken from my account and I can’t change anymore.

It’s nowhere listed that clause anywhere on your blog nor in the document.

Very disappointed. Please explain. Thanks.

(MikeF) #535

I’m not really sure how to explain this.

The sale of shares is not related to the meeting of a funding target in any way. Once an individual makes an offer, the shares are allocated and the money is taken.

It seems you’re thinking of this as something like a kickstarter campaign? If so, then that’s certainly not what it is which is perhaps where the confusion has come from.

(Steve) #536

In the Prospectus it mentions payment will be taken immediately.

(Eve) #537

Hi John, it’s listed on the page before you invest that you cannot amend your pledge unfortunately! I’ve not read the whole prospectus, so maybe someone can clarify if it’s been listed elsewhere as well.


It was very clear during the application process that money would be taken immediately. As others have mentioned, it was also made clear in the prospectus.

( related to Monzo CEO, Investor in Monzo ) #539

Sorry to say your understanding was wrong, the funding package was never dependant on reaching a certain amount . I think it was quite clear that the funding would be taken from your account immediately and it wasn’t amendable.

Sorry you feel you’ve been misled.

see page 27 para 1.1 of the prospectus "The Offer is not conditional on a minimum fundraising target "

and pages 28 and 29 of the prospectus regarding money in your account para 1.3 and irrevocability of your offer para 2.2 (e)

(Natalia) #540

(Excited about Christmas) #541

To be fair, most campaigns on Crowdcube do work like this. Not only do they have a minimum, but you can also amend your amount. In this case though, Crowdcube are only managing the admin - not the payments, so it is a different system. On Crowdcube, there is not usually a prospectus, but you get the Articles of Association when the campaign closes successfully, and then you have seven days to pull out if you dont like them.


Random question: what happens if you die? Can you leave the shares to someone else and transfer ownership that way?

(Jack) #543

Yeah, they allow for share transfer in a small selection of cases.

(Colin Robinson) #544

Still plenty left for us to grab tomorrow :bank:

(Shenbagaraja) #545

Hi, I am a Indian citizen currently working in the UK on intra company transfer visa valid for until Jul-2020. I am eligible to buy Monzo shares. If I am, will I be able to continue to own them when my visa is expired and return back to India? Or is there a regulation around selling the shares before moving out of UK?

Best Regards

(Stuart) #546

Can everyone wait until 11am so I can get some investment in please hehe!


If you had a Monzo account before they announced crowdfunding then you are eligible to invest. I don’t see why you can not keep the shares if you are to return to India.

Maybe someone with better knowledge will explain if there are any issues.

(Shenbagaraja) #548

Thanks for the reply. Wondering how to take this up officially with Monzo. I have been using Monzo for 4 months now.

(Is Santa here yet?) #549

Have you read the prospectus? It will definitely say in there if it’s not allowed

(Jack Stride) #550

12 hours to go… Eagerly waiting :stuck_out_tongue:

(Shenbagaraja) #551

Looked for key words. Nothing restrictive on holding the shares as a non-uk resident. There are mentions about taxation based on the Jurisdiction. That’s about it.

(Matt C) #552

Counting my pennies…


Is there some sort of plan in place for those of us who aren’t eligible to invest or don’t want to , so that we can still access the app during this time to carry out essential banking needs and it doesn’t go down due to the overwhelming response because of those investing?