Wish list for Monzo USA account

  1. Joint accounts
  2. Instant transfer between Monzo accounts
  3. Free ATMs
  4. Early direct deposit
  5. Bill Payment
  6. Unlimited Pots to save for goals
  7. Automated saving rules for Pots
  8. ATM fee refunds
  9. Mobile check deposit
  10. Budgeting features
  11. Recurring payments
  12. International Money Transfer
  13. Mobile Phone Insurance
  14. Extended Warranty
  15. Purchase protection
  16. Price Watch
  17. Investment - stocks, mutual funds, etc.
  18. Debit card rewards
  19. Monthly bill payment alerts
  20. Web page account access
  21. Exclusive member perks
  22. High interest rate for saving pots
  23. Larger ATM withdrawal limit (min $2K per day )
  24. Larger daily spending limit (min $5K of course subject to what one has in his account :wink: )
  25. Fast transfer from and to Monzo account ideally on the same day. (currently, most of the banks take 3 days to complete a simple transfer)
  26. Apple Pay and Google Play compatible debit card (Though it seems to a standard feature, recently launch N26 acoount surprisingly misses this feature)
  27. Split payments request

Could you expand on this one? What is it?

Since Monzo is not expected to have its own ATMs for cash withdrawals, it should refund any ATM fees that may be charged by ATM owners. Currently, SoFi and Aspiration are offering unlimited ATM fee refunds.

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Track record would state that it’s unlikely that this would happen.

Lots of the other points are in the UK app so providing they can be ported over I’m sure they will.

Good to know that most of the wish list features can be made available.
It would help if Monzo keeps a limit to ATM fee refunds (such as $25). It is very common in USA for people to withdraw cash at least couple of times in a month.

Aye it is.

We rarely get charged for cash withdrawals here even with our incumbent banks, even if we are to be charged the ATM tells you this and you have to accept. (Last time I used one anyway!).

We’re relatively cashless here apart from some outliers.

That seems a day and night betwee UK and US. Still Cash is a king here.

All the new challenger banks here rely heavily on “no fee” promotion

Are there any killer features from the challenger banks at the moment that are tempting you to make the switch to them?

  1. Instant transfers (it may not sound important. I tried many apps for this. Only one app Circle Pay gave literally instant transfers between different banks)
  2. Automated rules based savings (it was really an eye opener when I tried to set up different sub-accounts and automated the savings. I was totally surprised to see how much the savings grew automatically. )
  3. Early direct deposit - this one particular feature makes me try N26. (it makes huge difference when payday falls after a weekend)

It sounds like the sort of thing Monzo could come up with.

To me it sounds like Monzo’s biggest barrier would be the American banking infrastructure, which imo seems incredibly outdated.


N26 advertising 2 days Early Direct Deposit in their launch. Will Monzo include this common feature in US??

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I’ve seen you mention N26 an unnatural amount of times since joining. Is there something you’re finding particularly appealing about their offering?


Since I am a tech savvy person, I like to see more challenger banks challenging US big banks. As N26 and Monzo are popular and proven track record in Europe, I am curious how they are going to perform in this competitve US market. Since N26 is already launched here, I try to compare it with Monzo.


The issue with American banks, if you could call it that, is that some still get by on the “good ol’ boy” system. Up until a couple of years ago I could call the bank and tell them to cover a check for a day or two until I could get funds. Also, if I wanted to do a smaller car or personal loan, I could call my loan officer and he’d cover the check for a few days until I got in to do the paperwork.

It’s going to be hard to get people to migrate to a bank where they never see a face. I think it’s already been stated in another thread, but going to a bank to do business is almost a social affair in itself.

And in my bank’s case, you get a free sucker (dum dum)!

This means lolly, right?

Or is the loan officer standing by the window shouting at the rest “here comes another sucker”?


Lol probably both! But yes, it is a cheap lollipop. Dum dum is the brand.


Umm. The time is changing. I have hardly been to my bank since I opened my account, as my bank resides in my mobile :wink:

If Monzo can think out of box by providing features like extended warranty, purchase protection, price watch, etc, then I will think of carrying out all big purchases through Monzo instead of using credit card.

Can’t this be combined with IFTTT Applets?