Not overdrafts, theres a whole lot more to staying right side of 0, better money management tools to stop you overspending, access to bank account with services rather than having to get prepaid card style premium accounts etc etc.
So that’s a overdraft is it not? Being the wrong size of 0 puts you to into minus figures which means you owe the bank money, so its a overdraft. So I say what it is then you come up with money management stuff.
5 posts were split to a new topic: Removed Posts - 4/7/18
So Monzo must be your saviour then as there are no charges for withdrawls and stuff like that.
International usage and I like cutting edge technologies!
Also who uses branches anyway?
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The whole instant notifications thing made budgeting so straightforward, and now I couldn’t imagine my day-to-day spend anywhere else.
At this point in time I have opened my account because I am relocating from South Africa and Monzo provided a simple solution to open a UK bank account from SA which will be ready to use when I arrive in the UK. I had heard of difficulties others had gone through with opening accounts with traditional UK banks.
I’m user 18341 so have been with them since June 2016 and I joined because I loved the idea of being able budget and having instant notifications!
Keen to hear about others!
I joined in January 2018 when Current Accounts became available to everyone, mainly out of curiosity.
Stuck with it ever since.
As mentioned in other threads, I first heard about Monzo from the news reports about their new Cardiff office, but then I saw the features that were available and couldn’t resist.
I’m still using the account for discretionary spending, with pay and DD’s going to the old account that I’ve had for decades, but I am toying with making the switch when a few more specific features are added (an IBAN number being one of them). Having card payments deducted immediately and followed up by a notification so I always know where I am is far and above the best feature, closely followed by the roundups into a savings pot.
Back in the “Prepaid days” a mate gave me a golden ticket and I signed up.
Never really used it except for once or twice until I decided to test it out on a holiday recently…
Now I’m pretty much full Monzo and love it!
Helps a lot with budgeting and tracking spending, especially when I use it with my Curve Card.
I’d never heard of Monzo until I read an article in the Guardian about them. At this point I was with the TSB, and although I’d made it through their botched IT upgrade relatively unscathed, my confidence in them had been dented. So when I saw the article I thought, what the hell.
What persuaded me to stick with Monzo was the advance notice of direct debit payments (this was before the committed spending feature had gathered enough information to be useful). I’d never seen that before. It’s a small feature but it’s just so useful to know when a payment is about to happen before the money leaves my account.
I saw Harry Wallop mention it on the Gadget Show about 3 years ago now. Back then it was a top up card only. I thought it would come in handy for my disposable cash and to keep a track on my spending. The instant notifications were ground breaking to me!
I’ve since gone full monzo and have a joint account with my wife too.
A few friends were early adopters but it drifted out of my view for a year or so.
Recently moved in with my partner so we were looking for a Joint Account that didn’t require a salary ‘switch’. Monzo popped up in a list and I remember my friends being impressed with it, downloaded the app and now use it for my own personal account too (dropped B which is far behind in functionality).
I joined in August 2018. A friend and I were going abroad together and he mentioned he’d previously used his Monzo card on his travels and suggested I sign up for the ease of use overseas and lack of transaction fees.
I loved using it during the trip so much that I continued to use it at home and that was it - I was a Monzo convert. Last month I went Full Monzo and closed my Lloyds current account and haven’t looked back.
I really liked the pre-paid card and freeze at any time functionality. The at-cost spending abroad pushed me over the edge.