Why can I only pay for shares via my monzo balance?


I would love to invest in Monzo, but this round was announced at rather short notice and I have already budgeted and saved for December (it is Christmas in case you forgot!). I would very much like to pay for the shares via a credit card until my next payday comes but it doesn’t seem like I will be able to do this. If crowdcube is handling the backend, why are you limiting us like this? I would happily pay with my credit card via crowdcube instead of through Monzo.

Cancel Christmas…

Seriously though, buying illiquid things on a credit card isn’t the best idea and would contravene the less then 20% of available cash invested rule in the survey.

I personally wouldn’t stop you of that’s what you want to do though and agree it should be an option.


Card payments carry an additional fee to process

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I feel like I am in dangerous footing here so please take what I say with care and determine your own financial situation, but …

You could apply for a Monzo overdraft (if possible) and use that for the raise and then pay it off ASAP.

Or even get a Monzo loan on 3 months, that way you know for a fact you will make payments to pay it off

… but agin this advice needs to be considered strongly and only you know your finances.

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Dangerous footing indeed, but neither of these are any worse then a credit card to be honest.


Do crowdcube accept credit cards? I can’t think of any stockbrokers who do.

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Yep, even Amex. Put all my investments on it

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In all honesty, it is a fairly silly time to try and raise 20 million from your customers, whilst we’re all knee deep in Xmas (just after Black Friday!), couldn’t this have waited till end of Jan?


I took cash off my credit card and put it in my Monzo account at PayPoint :see_no_evil:


Make sure to pay off the balance immediately as most credit cards charge interest immediately for cash withdrawals (instead of the usual first month without interest).


Obviously in a perfect world I would rather not use my credit card at all, but monzo wants to take the money immediately and has timed this very poorly with little notification right before Christmas. why not let us pledge the money and then give us a month or so before the money is actually withdrawn (similar to crowdcube).

This may sound harsh, but if you can’t afford to invest in it right now then maybe this round isn’t the correct time. January will be really inconvenient for some, and February will be inconvenient for others. Monzo shouldn’t have to announce these things 6 months in advance - and besides, we have known for quite some time that another round was coming up so people could have been budgeting towards it during that time.

I personally think that buying shares on a credit card - and promoting that - isn’t massively responsible. You are supposed to only invest up to 10% of the money you have I believe and credit cards = borrowed money, not your money.

PS - I would love to invest £2000 this round but won’t be able to afford it. I’ll be more prepared for the possibility of another round in future.


You must have had it on there a while? Stripe started preventing credit cards from being added to CC a couple of years ago. I was gutted cos my card needed replacing and it wouldn’t let me add the new one!

Maybe I am mistaken, I actually use my debit card on CC but assumed that I could add on a credit card. I’m just frustrated because its a matter of days between Monzo’s funding round ending and my salary getting paid in.

That is really unfortunate. Most people I know have just been paid or are being paid this week :frowning:

I managed to add one a few months ago.

Nice! I would try again, but I’m having a rest for a while :wink:

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Ooh, I just had a good idea. Changed my card on crowdcube to my credit card and now I will have enough in my other account to transfer to Monzo, and then that will give me those few days until I get paid to then pay back the credit card.


Interesting but please remember to pay off the card in full to avoid the eye watering interest credit cards normally charge.

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Thanks for your concern, but you don’t need to worry. I have not been charged interest in years as I only spend what I know I can pay off before I get charged interest.