Why limit split cost and money requests to 100 pounds?

Why limit split cost and money requests to 100 pounds?

A few times I have paid for a something like a hotel and then we split the cost with my girlfriend. We use monzo split cost for things like that, or just a money request. But for some reason these features dont allow the amounts to be over 100 pounds. It becomes really annoying. Why is this limit needed?


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This is just an educated guess, but one reason maybe to limit the expense for Monzo. They are absorbing the processing fees, and these fees are a percentage of the amount sent.


Get a joint account with your girlfriend, problem solved :slight_smile: (I know that’s not always the solution btw !)


I’d have thought the cost would be more is users end up having to split it into two monzo.me payments instead.

Most service charges like this charge a tiny transaction fee + percentage of total.

Speculative numbers but say I was trying to split a £400 payment between two.

If there was 5p transaction fee and a 1% charge, if done in one that would be £202.05, if done in two transactions it would total £202.10.

I believe the service behind it all (Stripe) charge monzo about 5 or 10p per £100 topped up. I can’t remember which it is, it was recently confirmed by Tom.

Tom confirmed 50p per £100.

What it boils down to though is whether this is a 0.5% charge or whether it is something like a 1p + 0.4% charge.

If it’s the latter it costs less for Monzo if it’s done within a single transaction rather than multiple - a bit like Amex:

If it was just percentage, it wouldn’t make a difference if it was batched up, or individual itemised transactions.

apologies yes it’s 50p :slight_smile: too many numbers flying around in my head!

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The cost explains why Monzo would limit Monzo.me requests and split the cost to non-Monzo users. But there’s no reason to limit payment requests or split the cost to other Monzo users. These should be essentially free to Monzo as it’s just moving money between two different Monzo accounts.