No me neither. I’m over 18 and an adult, the Government doesn’t care how I earn it, they’re happy enough to tax me on it.
But they care how I move it around or withdraw it?!
I understand terrorism funding, I get that, but I have 30+ years of banking history. I’m not vulnerable and being dragged down to the bank by a dodgy roofer etc.
I would prefer the Ken Dodd approach, but even that attracts the notice of the damn tax man.
not sure Lloyds or Barclays etc would be that pleased for one single challenger bank customer to come along to their ATM and withdraw 10K out on a friday afternoon , let alone it fitting through the ATM slot 
Quite so. I was thinking about moderate excess rather than shed-loads.
Yeah, I’ve met him too.
Haven’t we all at some point!!
But you’re right, I can’t see a legacy bank that you either never see from one lump sum to the next, or one that Monzo has an arrangement with, wheeling out a wheelbarrow load of dosh, being that happy to see you.
What if the legacy banks don’t want to help out, they’ve no real reason to unless it’s financially worth their while. They know cash is expensive so I’m sure it’ll be a significant cost.
I actually think that this (as with cheques!) is something Monzo needs to have a think about. Cheques / withdrawing large amounts of cash are something that many of us will have to do at least occasionally.
If Monzo wants to be a bank that grabs a massive share of market (does it want this?) rather than a niche bank used by a few it needs to consider how to provide or at least work around what are really pretty basic banking needs.
It’s all very well saying just keep a legacy account, but how many people would choose the inconvenience of a bank where they can’t ever write a cheque, or withdraw a decent sum of a cash, even if it does have an awesome app / instant transaction notifications etc? It’s going to be a big barrier to people switching if they can’t do these things, and do Monzo really want folk to keep using the CA just like a prepay card alongside their “real” account?
Good points, Rosie.
Truth may be that, whether we like it or not, large cash sums and cheque books (however rare an occurrence) won’t feature in mobile-only bank development plans. If so, it’s legacy backup or opt out of the new banking model.
It certainly isn’t an elegant proposition, is it?
There has been talk of an arrangement with the Post Office for over the counter banking services, like with other high street banks
And if that pans out, it’s probably the best option out there, particularly when increasing numbers of post-masters (in local shops for example) are keeping the counter open much longer each day.
Do you have further information on that?
Has Monzo made a definitive answer on depositing/withdrawing cash? I know paying in cheques can be done by sending them by post but how secure of a solution it is?
Monzo has some very interesting features and probably the best customer service I have ever seen from a bank. They listen and really do try to find solutions in a timely manner.
However cash and cheques are features that Monzo hasn’t yet provided enough clarity on.
And people on the forum saying that they are non issues and making jokes or being sarcastic about it isn’t constructive.
A lot of us here are Monzo users because we believe in it, and like what it represents. However Monzo is a bank, and as customers our concerns are valid. Just saying keep another bank account is not a solution.
Monzo needs to address these for its customers to be able to make a conscious and informed decision.
Hi Tink
If I could upload a photo I’d show you 
. It’s in their FAQs page in the app. I don’t think it’s replicated on the website.
Essentially, there are cash paying-in facilities through Nat West and cheques you post to Starling for crediting to your account.
I’ll go have a look! Thank you.
I stopped using Starling a while ago because they have an appalling customers service, their bank transfers take forever and their processors are unreliable at best. However being able to pay-in and withdraw large sums of cash is an important feature. Same goes for writing cheques
Not a feature that I would need often but knowing that I can rely on my bank for it and that if I did need it, it wouldn’t be a problem is important for me.
I am not a fan of sending cheques by post, it takes even longer but it’s a bodge.
Large withdrawals aren’t available at this point. £300 per day ATM limits apply.
Good luck in your quest…
Generally agreed except a bank won’t flag a £5,000 deposit. The anti-money laundering regulation amount to flag is £10,000 or over.
I think the post office should be pushing ahead with this hard. There could even be mileage in all of the banks offering to do over the counter functions for each other.
We don’t need the number of branches (totalled over all banks) we have, but we do need some. What if the high st banks all moved to a monzo type model, sub contracting their otc work to one or two national chains like the post office?
I had to go into Barclays the other day - it was horrendous, virtually no staff just machines. (The staff were mostly hiding in the back room behind a very strong door).
At least with the post office, I can talk to a real person.
they shouldn’t be with AML regulations…
I mostly agree with what you said but service standards in Post offices need complete review and I think post office needs to re-train their staff. Some of the post office branches are extremely busy with ques for up to an hour on some days. I would really like to see High St. banks collaborating and offering counter service for new entrants like Monzo and for each other.
By the way, more and more Post office branches are getting Self Service Kiosks so you might not be able to talk to a real person there in near future
This changed in June - its £7500
And really, it’s any amount if the cashier thinks it might be dodgy
yeah we do checks on less than that if it looks like its trying to avoid AML etc etc