Forum | Any Monzo users here? by Swailsey

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Any Monzo users here? 09:32 - Oct 13 with 1818 views

It's been great with me for putting aside spare money - they're moving into current accounts soon as well.

Appreciate its not something that everyone will be on board with, or need - but their customer service is amazing as well.

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Any Monzo users here? on 09:45 - Oct 13 with 1785 views

StokieBlue

You use it to put aside money? Not sure that's the use case but glad it works for you.

It's absolutely superb for travelling because they only charge Mastercard spot rate on FX and they don't charge for cash withdrawls abroad (this is changing) which saves you a lot when travelling.

SB

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Any Monzo users here? on 10:05 - Oct 13 with 1755 views

Swailsey

Any Monzo users here? on 09:45 - Oct 13 by StokieBlue
You use it to put aside money? Not sure that's the use case but glad it works for you. It's absolutely superb for travelling because they only charge Mastercard spot rate on FX and they don't charge for cash withdrawls abroad (this is changing) which saves you a lot when travelling. SB

Sorry - what I meant is, on pay day, I put all 'spare' money into Monzo and use it as a pre-paid card and then track what I'm spu*king my spare cash on.

And the abroad rates are superb.

You will still be able to withdraw up to £200 abroad though, which is still good.

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Any Monzo users here? on 10:28 - Oct 13 with 1733 views

trncbluearmy

Any Monzo users here? on 10:05 - Oct 13 by Swailsey
Sorry - what I meant is, on pay day, I put all 'spare' money into Monzo and use it as a pre-paid card and then track what I'm spu*king my spare cash on. And the abroad rates are superb. You will still be able to withdraw up to £200 abroad though, which is still good.

The vote was heavily in favour of the £200 limit pm , but I wonder if they may make that some kind of annual rather then monthly limit.
I was surprised at the cost per ATM transaction abroad to the bank,up to £15. Pleased,as an investor , they decided to do something about it.

Monzo will change the face of banking over the next decade.

Any Monzo users here? on 10:30 - Oct 13 with 1723 views

Swailsey

Any Monzo users here? on 10:28 - Oct 13 by trncbluearmy
The vote was heavily in favour of the £200 limit pm , but I wonder if they may make that some kind of annual rather then monthly limit. I was surprised at the cost per ATM transaction abroad to the bank,up to £15. Pleased,as an investor , they decided to do something about it. Monzo will change the face of banking over the next decade.

Are you going to go with the current account then?

I'm pretty nervy when it comes to finance, but it seems to be a good thing.

*edit* - Sorry, that's quite a personal question - feel free not to answer!

[Post edited 13 Oct 2017 10:31]

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Any Monzo users here? on 10:40 - Oct 13 with 1712 views

Stenvict

I put £100 in mine 2 months ago and still have £100 in it. My friend who recommended it to me said it's great for saving money and tracking what you've spent as it notifies you straight away. Well, when I've been to Tesco for my weekly shop, I know I have. I don't need to get a notification telling me what I've just done. Anyway, I guess the main advantage is the lack of charges when abroad.

Poll:

What will be announced first?

Any Monzo users here? on 10:40 - Oct 13 with 1711 views

trncbluearmy

Any Monzo users here? on 10:30 - Oct 13 by Swailsey
Are you going to go with the current account then? I'm pretty nervy when it comes to finance, but it seems to be a good thing. edit - Sorry, that's quite a personal question - feel free not to answer! [Post edited 13 Oct 2017 10:31]

Yes I will go with the Monzo current account,but for the time being I will also keep my existing CA open as well

Any Monzo users here? on 10:41 - Oct 13 with 1711 views

JohnWarksTash

Any Monzo users here? on 10:30 - Oct 13 by Swailsey
Are you going to go with the current account then? I'm pretty nervy when it comes to finance, but it seems to be a good thing. edit - Sorry, that's quite a personal question - feel free not to answer! [Post edited 13 Oct 2017 10:31]

I am already with Starling who were set up by the now CEO at Monzo I believe. They have a similar current account and have just introduced Goals where you can divide your current account into separate pots and move money into them to act as a savings account within your current account....its a nice way to manage your money. They are going to bring in the ability to assign direct debits and standing orders to specific pots at which point I will create Bills pot so I always know how much cash I have to spu*k on beer and pasties each month!

Any Monzo users here? on 10:43 - Oct 13 with 1700 views

Swailsey

Any Monzo users here? on 10:41 - Oct 13 by JohnWarksTash

It sounds too good to be true surely!?

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Any Monzo users here? on 10:53 - Oct 13 with 1677 views

trncbluearmy

Any Monzo users here? on 10:41 - Oct 13 by JohnWarksTash

Starling and Monzo really are two interesting beasts, embracing their communities and effectively running the business as a collective

Monzo are currently asking their account holders what these pots are going to be called.

The technology is miles ahead of the current banks

Monzo, and probably Starling ,have already turned down numerous buyout offers from the big banks.

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