Would be great if you can go above £100 on Monzo.Me

Feedback & Ideas
1

I’ve recently been in encounters where I required someone to transfer to me above the £100 limit and usually if it’s below that they always use that link but lately it’s made it more difficult to transfer over, therefore I feel other people must have at least been in the same boat once

2

The limit is there because it costs them to provide this service, therefore it’s unlikely to be risen.

Also…

So in short, use a bank transfer if it’s a lot of money :slight_smile:

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3

Would this be a good plus or premium feature?
It’s quite frustrating to not be able to split larger bills but it’s not something everyone needs.

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4

I agree it’ll be great for a plus feature

5

From the customer’s point of view, yes. But if it is to protect against money laundering, I’d guess it would still be a ‘no’ from Monzo.

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6

Even if they only allowed 5 over £100 transactions a year on other plans that would suit most legitimate uses and make it less desirable for money laundering.

I remember I offered to sort a Go Karting trip in the good old days when such things were allowed thinking it would be easy to charge everyone.

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7

If you’re so keen to do it this way, just do it multiple times?

8

It keeps the transaction feed more accurate and easy to check if all of the payments back are tied to the original transaction.

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9

It doesn’t allow you to do it multiple times In a row sadly I tried it once as either you hit the limit or the other persons bank will block it as suspected fraud on the 3/4th time also just easier in one as you’ll know what it’s for

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10

Just get them to withdraw the cash :moneybag: issue fixed

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11

Don’t do what this person is suggesting because you’ll run the risk of exceeding your cash deposit limits. I’d also recommend avoiding cash given the current pandemic too.

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12

I believe Monzo also has hidden limits in place on how much can be sent over monzo.me using the same card, which could result in repeat transfers being blocked or declined.

15

That’s how much you’re allowed to receive per month. There are undocumented limits on how much an individual debit card is allowed to send to you each month.

I believe it was stated as £500 by a staff member on here, but I suspect based on my own usage, it’s lower now.

I thought they were replying to my monzo.me limit :see_no_evil: makes more sense as £1000 is the limit you can receive there, and I got the notification they replied to me! :laughing:

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16

I received the notification it was to my post… Odd.

I’ve deleted my comment now to give the benefit of doubt :slight_smile:

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17

This particular over-cautiousness has been found to be unnecessary.

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18

Hopefully they reply back to clarify, as we both got the notification! :sweat_smile:

To reply to the actual thread title now @Ashton! I think the key issue with Monzo.me is that it’s a more trustless platform of sorts. I.E. the sender doesn’t need an account or to go through AML checks to send you money. I suspect that’s the primary reason it’s capped at £100, whereas services like cash app are able to exceed those limits by quite a bit. The difference is both people need an account, and in order to have those increased limits, both parties need to verify their ID and pass AML checks.

I would love higher limits, but I doubt they’ll ever be possible, even if plus could offset the increase in cost. :slightly_frowning_face:

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19

It’s £500 per card :pray:t3:

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20

Thanks for this :slight_smile:

In any case, low risk or not, a bank transfer is the better solution to this problem. It also saves the person having to travel, meet and collect the cash - then take that to travel and meet with people again
to deposit it at Paypoint location.

Stay safe at home, pop the kettle on and have it electronically sent directly into your in account in a fraction of the time. Job done :raised_hands:

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21

I have just the solution for you! Cheques! As my family are ever so insistent on this Christmas. Bruh just bank transfer! :expressionless:

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22

Don’t say the ‘c’ word on here, that’s another controversial subject :rofl:

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