Hi everyone 
I’m Katie, the Product Marketing Lead for borrowing here at Monzo. I wanted to share a quick update on the number one feature you’ve asked us for on joint accounts:
Joint account overdrafts are now live 
Why are we launching joint account overdrafts?
Most people use joint accounts for bills and shared costs. When money comes in at different times, or payments go out earlier than expected, it can be stressful - especially when you’re managing money together.
So we’ve built joint account overdrafts to make those moments make those moments easier to deal with.
What’s changing?
You’ll now be able to apply for an overdraft on your joint account
You won’t get one automatically – you’ll need to apply and be accepted.
We’ve updated our joint account terms and conditions
These explain how joint overdrafts work, what happens if you go over your limit, and how they can affect your credit file.
How will they work?
Payments still go through if your balance dips below £0
Your overdraft can cover card payments, transfers, cash withdrawals and bills.
You’ll both get real-time alerts
You’ll both be notified if you go into your overdraft, or if an upcoming payment (like a direct debit) is about to take you into it.
Applying is straightforward
One of you starts the application, and the other reviews and approves it. We’ll look at both of your finances to work out the rate and limit you’re eligible for. We offer three simple interest rates - 19%, 29% or 39% - with overdraft limits up to £2,000, just like personal overdrafts.
It’s easy to manage
Either of you can adjust the limit, make repayments or switch it off at any time – and you’ll both see changes straight away in the app.
A couple of important things to know
Not everyone will be eligible for a joint account overdraft. We’ll run credit checks on both account holders. You’ll need to be over 18, a UK resident, and have a Monzo joint account. T&Cs apply.
If either of you uses the overdraft, you’re both responsible for paying it back.
Because joint accounts link your finances, things like missed repayments or going into an unarranged overdraft can affect both of your credit scores.
You don’t need to do anything unless you’d like an overdraft. If you have a joint account, we’ll email you to let you know once you’re able to apply for one.
As always, if you’ve got questions or feedback, ask away! 
Thanks,
Katie
How does our overdraft compare?
As a representative example, if you use an arranged overdraft of £1,200 for 30 days, with 39.0% EAR/APR (variable), it would cost you £32.94. 39% APR representative (variable).
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well done team.