We're adding two new fees, which only affect a minority of customers

[Rat_au_van (Em)]

Are they likely to take all their careers allowance out in cash to hit the £250 limit?

[lpoolrob (Rob)]

@BeckyRobinson

What about people who are on careers and don’t get universal credit and only earning £67 a week?!
I don’t wanna be paying fees or sadly I’ll be leaving

What fees do you think you would be paying? You wouldn’t be taking out large amounts of cash anyway, right? Just look after your card and all is good.

[anon75400416]

@BeckyRobinson

What about people who are on careers and don’t get universal credit and only earning £67 a week?!

If you’re only earning £67 per week you won’t be incurring charges for withdrawing unless you are using an overdraft as by my maths you don’t have more than £250 in the account (well you do but only £7)

[Rat_au_van (Em)]

how when you are getting less than £500 a month?

[BeckyRobinson (Becky)]

Some of the things I need forces me to take out cash. I’m taking out a minimum of £600 a month

[lpoolrob (Rob)]

@Eden

This doesn’t really go in line with monzos old tag line though about being a bank for everyone, nor are they being particularly honestly about it I think. But they can do as they wish, I can still post the obvious.

Oh I agree with that for sure. I suspect with a new CEO and marketing manager will come a new strapline.

[Ordog]

Then this change is nothing new to you then if you’re taking out that much cash a month.

[Ashton]

I got my money another way from a accident. So that’s been sat there in the account

[Revels]

@BeckyRobinson

only earning £67 a week?!

@BeckyRobinson

I’m taking out a minimum of £600 a month

?

[lpoolrob (Rob)]

@BeckyRobinson

Some of the things I need forces me to take out cash. I’m taking out a minimum of £600 a month

But you must be paying in over £500 a month for that to happen? So changes won’t effect you.

[anon75400416]

How? You said you’re only paid £67 a week

[Rat_au_van (Em)]

Thanks, that was making me seriously question my maths skills

[M1cky (Micky)]

@Eden

I still find it funny that they think a million customers is a minority

Technically they are a minority, the other 3.5 million customers are the majority

[BeckyRobinson (Becky)]

But my old banks didn’t charge me 3%

That’s at least £18 each time and being a student aswell it’s alot

[Rat_au_van (Em)]

You get a student loan or bursary?

[BeckyRobinson (Becky)]

I’ve got savings. That I withdraw.

[BeckyRobinson (Becky)]

Nope nothing. I don’t qualify

[lpoolrob (Rob)]

@BeckyRobinson

But my old banks didn’t charge me 3%

That’s at least £18 each time and being a student aswell it’s alot

If the charges will genuinely impact you because you have little money coming in but are withdrawing a lot, then I think you would have to question if Monzo is the right bank for you. Monzo is largely cashless, I can’t imagine withdrawing a MINIMUM of £600 a month without having an alternative of sending bank transfers or using my card.

[Ordog]

Sounds like you’re in the minority based on Monzos data.

So you have two options:

• Evaluate who and why these people need paying £600 a month in cash and if you can pay in more secure ways
• Switch to using a different bank

As harsh as it sounds I can’t see any other option unless Monzo change their criteria to be based on how much savings you have with them.

[nathanthomson8 (Nathan)]

If youre paying in £500 from your savings account on average each month (which im guessing you have to to be able to take out £600) then you would pass the requirements.

If you have a direct debit then thats you sorted.