You can now pay cash into your Monzo account!

For cash deposits?

No, for PayPal services. Get my electric by card every week. Know about 20 years ago I had to use cash for it

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I tried to pay in cash at my local One Stop (Tesco owned corner shop) today with no avail. I confirmed they had a paypoint and explained I’d like to pay cash into my bank account. The lady said she hadn’t heard of that and refused to continue. I tried to explain a little more, but with no luck. Not a brilliant first experience to be totally honest. She wasn’t unhelpful, just uncomfortable with doing something she wasn’t aware of/trained in. Looks like it’s a trip to the bank tomorrow :expressionless:

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I worried this might happen.

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Agreed, I thought this would happen as well

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I’m quite disappointed by this tbh. Starling bank now let you deposit in Post Office branches and I really expected Monzo to have sorted the same out by now instead of this.

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Agreed. Post Office would be a better solution than Paypoint I feel. There may be more Paypoint locations, but I would feel more comfortable depositing cash at a Post Office, especially after my experience today. The staff are more likely to be trained and ready to deal with such transactions. Quantity over quality with the current setup.

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…and a potentially higher fee to pay which is maybe why they didn’t go down that path. :man_shrugging:

Indeed :slight_smile: But in order to build those extra services (which ultimately benefit the customer too) your company still needs to be around!

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Said company can only do so much at once. Helping everyone is the goal. The company has made no inference that they do (or even can) help everyone right this second. Heck they’re only even in one country right now.

The fee might be revised in the future. Cast your imagination to bigger things rather than taking decisions about the now as contradictory to future goals. The journey is only just beginning. Every oak started as an acorn and such!

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Very disappointed with this latest development whilst being able to deposit cash is welcome news charging for the service is not. The only drawback with MONZO is its poor service on depositing cash and cheques.

£1 dude… I can’t even remember the last time I needed cash for anything. Personally, I prefer that PayPoint is available in many locations and like they said open from early morning to late night in most stores. If Monzo was a high street bank then I would have to go into town, park, walk to the bank, and give them the cash… Id rather pay the £1 to just pay it in at the paypoint while I’m grabbing lunch.

I agree the cheques is a pain but they have said they are working on in-app imaging but have some strict guidelines and legal procedures to follow to do this.

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I think it’s safe to admit that they aren’t there yet :grinning_face_with_smiling_eyes:.

It’s good to hold people to account but only for things that they claiming to have achieved. Equally, I get that highlighting areas where people fall short of their targets can be beneficial.

Monzo hold up an ideal that they’re shooting for but I don’t think anyone’s pretending that they’ve achieved it in any and all areas yet.

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What we really need is in app cash scanning…

:thinking:

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Or a little “fax machine” type of device on your phone that you feed money into and it then comes out at the cashiers desk in the bank :laughing:

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I remember when the very first PAYG phones came out when I was like 11 I saw an advert in a magazine which had used a phone with a coin slot in to illustrate the concept. I remember thinking 'well that’s

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Cash? What is this thing called cash? Didn’t the ancient Romans use this thing called cash?

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So many people seem almost overjoyed at the thought of handing a pound over to Monzo every time they deposit cash. Have I missed some sort of group hypnosis session or something? I suppose it says a lot for the brand and the level of loyalty built up amongst the customer base.

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That’s a pretty cynical way of viewing it. It may tell us something about the wealth of the customer base or (more likely) the ‘personal cost’ impact of recent branch closures by the other banks (such that this seems a good deal in comparison with the alternative).

Personally, I’ll stick with the Nat West branch in the high street if I ever need to pay in cash but that’s only a 10 minute walk for me so will cost less than £1.

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Not cynical at all. My closing sentence is a compliment to how well Monzo have marketed themselves and built up a sense of loyalty.

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