What made you go #FullMonzo?


(Gareth) #63

This seems to be a CASS thing rather than anything Monzo related.

I had the same exact thing when I moved to First Direct. O2 took money from the original (moved) DD then took all the future payments from the new DD. It’s probably companies using old systems that don’t handle CASS switches correctly


#64

Yeah it must be a CASS issue I guess.
Definitely not a big enough issue to put me off using CASS either (not that I’ll be wanting to switch from Monzo anyway :grinning:).


#65

yes, it’s all gone through fine now.
I had a bit of a panic on saturday morning when my rent standing order failed to go out, but then I remembered that standing orders aren’t processed on weekends

Very pleased so far!


(Only available in amateur ) #66

If you set it up in Monzo it will go out at weekends but if you CASS the standing order over it will only be sent on weekdays


(Jamie 🏳️‍🌈) #67

That’s interesting. Does that mean when the CASS is used it brings with it a little bit of legacy set–up with the SO?


(Only available in amateur ) #68

Yes. I think that’s an internal decision to stop customers being confused by unexpected payments at weekends. I’ll go hunting for the post i saw that in

Edit: found it


#69

I see. It would be helpful if this was in the help pages


(James Baynton) #70

I had the same problem on mine. Even though I made sure to cancel all my out of date DDs before the switch went through. As you said I will just have to wait until the payments are requested next month!


#71

I’ve decided to go almost full monzo in the sense that I’m moving my salary and bills to monzo from two other banks kicking off two CASS switches at the same time!

Can’t quite bring myself to drop FD though - been with them since the start and having such a longstanding account on my credit report looks good. They will just get a few quid each month to keep it ticking over.

I’m moving it all cos I was getting sick of the HSBC app, you can’t do everything with it and the customer service, even on Premier sucked. Now they shifted from a dedicated person to a call centre, it feels like a poor version of FD. Plus I think my bank should want me, not make me prove how valuable I am to them.

Moving my bills was a no brainer when I looked at the pathetic return on Santander for the additional complexity of moving money around. I recently read a great article on the costs of complexity (FIRE v London) and a quote by Peter Hargreaves (yes, that Peter Hargreaves) struck a chord:

“As you know I’ve got a few quid and I can pretty much have anything I want in life. I’ve got one car, one house and one wife, and that’s the way it’s staying. No matter how much you own or earn, keep your life as simple as possible.

It’s simple to use Monzo. The support I’ve received has been excellent - reminiscent of the level of support I first got at FD when they only had 10k customers. It felt then like they knew you personally! Ok not quite that, unless I get @BethS on the end of the chat, but really great support. It gives me confidence I won’t be left high and dry if something goes wrong.

So here goes… wish me luck fellow #FullMonzo-ers


#72

keep your life as simple as possible

This is what I’ve been saying all along to those that dismiss Monzo because of the lack of interest/cashback or those who set up convoluted schemes of moving money around to take advantage of legacy cash back or interest.

Sure, you might get a few hundred bucks a year in exchange, but at what cost in terms of time, stress and anxiety? Unless you’re really enjoying managing these schemes (and I can’t believe anyone in their right mind would enjoy this kind of pain… but then again, 50 Shades of Grey was quite successful :joy:), just don’t bother. If you’re desperate for money, put the time into learning new skills or improving your existing ones which will pay off orders of magnitude more than even the best interest/cash back will.


#73

I mostly agree, a mistimed payment to one of my accounts and a message telling me I was two quid overdrawn with potentially dire consequences made me realise the complexity was not worth the reward. I was netting around £4 a month from it.

Where I tend to disagree with you is cashback and points on my credit cards. That returns hundreds in cash and value of thousands in points. Well worth the minimal effort to me.


#74

Agree this too, I’ve never been bothered by having multiple bank accounts where I’m constantly moving money about to make a few quid but I do try and take advantage of TopCashback and my works perksatwork.com scheme


(Splodf) #76

First Direct made me go #fullmonzo by being my last hope at finding a bank that wasn’t awful.


(Phil) #77

Pots for joint accounts! Now switched over everything to Monzo. :champagne:


#78

The way contactless payments work, and now full Monzo seeing incoming payments that are due next day the budgeting facility, and now a fully fledged member of the community, instead of just ignoring my pension as no longer employed, I have sorted pensionbee and my kids CTF along with now joint pots, alround #fullmonzo is a win win for me :wink:


(Jemima) #79

Because it would just be plain rude not to, when such a great new bank and app comes along #FullMonzo here I come :+1:


#80

I used to never like using my card when I used to be with Danske. The app was so painfully bad to use and made keeping track of spending difficult. They also charged me fees for buying stuff online that wasn’t in GBP.

Instant notifications when spending and the ability to categorise spending was what made me switch originally. The fact that we can now get interest on savings is just an added bonus.

My only regret with Monzo is missing out on the crowdfunding round :sleepy: I woke up an hour too late.


#81

Just gone #FullMonzo, switched from NatWest.:grinning: The switch was painless, everything moved over, very pleased.