You can now pay cash into your Monzo account!

[jzw95]

I’m pretty sure they said that they won’t make a profit, and might make a small loss, hang on a minute…

Yes. Complicated as there’s some sort of fixed cost and a per-use cost, so it depends how much cash deposits are used, but:

Cash Deposits

It’s actually not far off and there’s more than one cost involved. Depending on usage it’s still possible that we’d make a small loss, but rounding to £1 is better than having, for example, a £1.10 charge that makes it an exact break even across the board. We certainly wouldn’t make any money on this. More news tomorrow, I believe