You can now pay cash into your Monzo account!


(Chris Konopka) #41

Great. Love the fact I have options to pay in money now. Won’t use it often but good to know it’s there. This was my main issue with Monzo and in the end £1 is fine for the odd time I’ll use.


(Dan Mullen) #42

Monzo’s own blog post states that 40% of all payments made in the UK involve cash. “Ever-shrinking minority” makes it sound like cash is almost dead, which it isn’t.


(Sean Le vegan) #43

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


(PIOTR PARTYKA) #44

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.


(Peter Shillito) #45

:popcorn:


(Joe) #46

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?


#47

This post was flagged by the community and is temporarily hidden.


#48

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.


(Nicholas Robinson-Wall) #49

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:


(Ben) #50

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


(Gregory) #51

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?


(Andre Borie) #52

Paypoint accepts GBP only as far as I know.


(Marcus Nailor, Hot Coral Detective) #53

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:


(Andre Borie) #54

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.


(Ben) #55

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


#56

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.


#57

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…


#58

To me this is a good thing?


(Ben) #59

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


(Is Santa here yet?) #60

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