Forum Home» Budgeting & Bank Accounts

MSE News: Monzo to ditch its prepaid card from April

New Post Advanced Search

MSE News: Monzo to ditch its prepaid card from April

edited 18 January 2018 at 5:26PM in Budgeting & Bank Accounts
8 replies 2.6K views
MSE_KarlMSE_Karl MSE Staff
175 posts
I've been Money Tipped! Newshound! Best Buy Bear
edited 18 January 2018 at 5:26PM in Budgeting & Bank Accounts
Monzo prepaid card holders won't be able to use them from 'early April' and will instead have to sign up to a current account, the app based bank has announced.

...
Read the full story:
'Monzo to ditch its prepaid card from April
'

OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.

Replies

  • I've got a Monzo prepaid card, not sure weather to upgrade to current account. Is there any feedback on there current account, from people who have upgraded?
  • This is my problem too. I've read that you cannot top up the new current account with a debit card. There is also no easy way to close my account if I find I am not happy with it. A close option on the app would be good as if the current account is really great, nobody will want to use it!
  • heatherw_01heatherw_01 Forumite, Board Guide
    6K posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    FlyingFish wrote: »
    I've got a Monzo prepaid card, not sure weather to upgrade to current account. Is there any feedback on there current account, from people who have upgraded?

    Works exactly the same except has all current account features you would expect
    I'm the Board Guide on Quick Grabbit, Freebies, Overseas Holidays & Travel Planning and the UK Holidays, Days Out & Entertainments boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • worried_jimworried_jim
    11.6K posts
    ✭✭✭✭✭
    Why would you not, it’s just the same but has a sort code and an account number.
  • takmantakman
    3.9K posts
    ✭✭✭✭
    Irene.S wrote: »
    This is my problem too. I've read that you cannot top up the new current account with a debit card. There is also no easy way to close my account if I find I am not happy with it. A close option on the app would be good as if the current account is really great, nobody will want to use it!

    That's not true you can still top up using a debit card. But I don't know why you would want to when you can use a bank transfer instead.
  • edited 20 January 2018 at 11:32AM
    surreysaversurreysaver Forumite
    3.3K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    edited 20 January 2018 at 11:32AM
    FlyingFish wrote: »
    I've got a Monzo prepaid card, not sure weather to upgrade to current account. Is there any feedback on there current account, from people who have upgraded?

    I've upgraded. Works the same from using debit cards to top it up, and saves having to go to a cash machine to get your money out - you can just FPS it straight back to your bank account.
    In theory you could perhaps earn interest on money you don't have, because it takes a couple of days to leave your bank account when topping up, you can pay it back in before its left!
    I consider myself to be a male feminist. Is that allowed?
  • surreysaversurreysaver Forumite
    3.3K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    takman wrote: »
    That's not true you can still top up using a debit card. But I don't know why you would want to when you can use a bank transfer instead.

    Because certain current accounts pay rewards for using your debit card (Co-Op and TSB)
    I consider myself to be a male feminist. Is that allowed?
  • BallardBallard Forumite
    2.4K posts
    Fifth Anniversary 1,000 Posts Combo Breaker
    ✭✭✭✭
    I’ve just upgraded to a current account. I note that by default the app has no password. I was able to open the app and pay out to another of my accounts.

    I have since enabled the option for the fingerprint scanner to be required to open the app and thought it worth pointing out in case others have gone the same route.
    I hate verisimilitude.
This discussion has been closed.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support