You can now pay cash into your Monzo account!

Starling offer a free to pay in service at the Post Office. :wink:

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That is a bit funny 1000 pound per 6 months , I was hoping to get my other account closed but seems like will be closing Monzo instead.

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:popcorn:

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Or, they’ve done research and found that people using the “pay in” feature would mostly not require MORE than just 1k per 180 days. Have you done the research to suggest what you say is true?

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Shrinking minority yet as Monzo article says still 40% of payments in the UK are done in cash. Not so small after all.
Whilst I don’t mind the fee, I will have to wait for higher limits. And for now my legacy account serves me better. After all, as a customer, that’s my bottom line.
It’s good there is some progress though from Monzo side.

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This is true, however this limit was reached originally by fitting it to the needs of the primary drivers for cash deposits, as outlined in my post in the original thread. So Joe’s information is also correct :slightly_smiling_face:

Our cash deposit offering is not designed to work for people who are primarily paid in cash, or small business owners. We hope to be able to cover these areas in future, but for now this cash deposit offering is designed primarily for those who receive monetary gifts one or two times a year.

This is an ongoing process. I think everyone would agree that we haven’t made money work for everyone yet. It’s an incremental change, and hopefully every feature we add brings us closer to that goal. This new addition won’t work for everyone straight away, but we have to approach this problem one step at a time (it’s a biggie!).

Please try to keep the tone of this conversation civil :slightly_smiling_face:

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Hi. Would it be possible to use the card number instead? I just don’t like the thought of handing my card over.

I suppose if yes they would just key it through paypoint

Might be a silly question, but I have some Euro’s that are left over from when I was abroad. Can this be paid in or would it need exchanging first?

Paypoint accepts GBP only as far as I know.

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I’m curious as to why? :yum:

I think it seems more secure to pass my card over the counter than reading out my 16-digit card number :thinking: The last thing I want is everybody in a shop hearing that :sweat_smile:

Self-service PayPoint machines seem like the next best idea to me :sunglasses: feed the machine money - it counts it like a vending machine would and if you’re not happy with the amount you just cancel it and the machine spits your money back out like an ATM :grin:
But that’d probably be an expensive thing to setup and roll out… Plus it’s another machine for somebody to empty each day / week :yum:

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I wonder why ATM operators don’t just implement PayPoint in software. A lot of bank ATMs are also capable of accepting cash, so surely it would be beneficial for banks to open it up and get another revenue stream from competitors’ customers.

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Another point is that everybody can spot my hot coral card a mile off in shop putting cash on it…

Last post from regarding it their is some pro and cons about deposits but overall I’m happy. Thanks Monzo keep up the good work

For me the safest way to deposit via Paypoint would be to provide a barcode or similar in the app which can be scanned by the terminal…

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To me this is a good thing?

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Now that would be awesome and for that il happily pay £1.00 for a bar code on app to pay in

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Before chip and pin you handed your card over in every shop. Never been a problem

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Nationwide ATMs inside the branch accept cash, but I’m in a bank at that point, I use the machines but eh, I could go and stand and wait in line if I wanted to do so.

Yeah but the idea is to open it up to other banks’ customers; not to mention that honestly if there’s a machine to do it for me then I’d rather use the machine and not waste humans’ times which could be put to better use for account queries that can’t be solved by a machine.

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@bea, this post can probably be updated now :slight_smile:

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Willing to bet that the limits are there to protect the shopkeeper: Paypoints could be generally newsagents with potentially minimal security (compared with a high street bank perhaps).

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Nationwide ATMs outside the branches here accept cash, so you can deposit at any time. I like @anon23935806’s idea, it would allow depositing in these machines (I think other banks have similar facilities).

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