Monzo

d123

jonnygee2 wrote: »

And that is probably, errr, 5% of the population? And declining .

You think people still dealing wholly or partly in cash are just 5% of the population? :rotfl::rotfl::rotfl:


The government claimed 2 MILLION people are evading income tax through taking cash payments, how many more honest people do you think work and legitimately get paid in cash?

https://www.telegraph.co.uk/finance/personalfinance/tax/9421590/Middle-classes-who-pay-cash-in-hand-morally-wrong-and-aiding-law-breaking-says-minister.html

You must be one of those “Coral Crew” on the quasi-cult Monzo forum...

jonnygee2

You think people still dealing wholly or partly in cash are just 5% of the population?

I don't think you really grasp the difference between 'people who use cash' and 'people who deposit cash into their personal account'. Given after several posts you are still struggling with this, I'll probably leave it here.

You must be one of those “Coral Crew” on the quasi-cult Monzo forum...

I thought the colour was 'hot coral'?

d123

jonnygee2 wrote: »

I don't think you really grasp the difference between 'people who use cash' and 'people who deposit cash into their personal account'. Given after several posts you are still struggling with this, I'll probably leave it here.

People who use cash, ie people who handle cash at some stage of a month and could want to deposit some into their bank account (not a difficult concept, I find it odd you don’t get it).

I thought the colour was 'hot coral'?

The acolytes on their forum who want to pretend that Monzo is the best thing on earth appear to have a “Coral Crew” tag, as I’m sure you probably already know...

Feral_Moon

I'm guessing either of these bank accounts would be suitable for use in bankruptcy?

Takmon

d123 wrote: »

I’m talking about actual banking service rather than clever widgets that might please techie types.

For example, cash deposits.

Starling offer a proper service at the post office, which is free to use and up to £20,000 per transaction can be deposited (depending on the individual post office branch policy, some small sub-offices will only accept £2,000).

You can also draw cash out over the counter. The counter assistant is likely to be trained and efficient in handling large amounts of cash.

Monzo offer a Mickey Mouse service at PayPoint outlets, so you’re expected to queue in your local corner shop and be served by a retail assistant who is more likely to be clueless on the procedure.

You can also only deposit a maximum of £300 and you’re charged £1 for the privilege of depositing your cash, you can also deposit no more than £1,000 in any 6 month period.

Monzo seem to think they’re still operating a prepaid debit card with the chargeable Paypoint service and ridiculously low limits, Starling are actually acting like a proper bank.

Personally i think it's a shame that Monzo allow cash to be paid into their accounts at all they should focus on the future of banking and shouldn't put any effort into accepting cash or cheques at all.

Unless your a business there is little need to pay cash into your account and even if your a business you still should be investing in taking electronic payments.

d123

Takmon wrote: »

Personally i think it's a shame that Monzo allow cash to be paid into their accounts at all they should focus on the future of banking and shouldn't put any effort into accepting cash or cheques at all.

Unless your a business there is little need to pay cash into your account and even if your a business you still should be investing in taking electronic payments.

Someone else who doesn’t seem to realise that the whole country is not like them and there are millions of people who still rely on cash through the month, having some form of income in cash.

Cash won’t be going anywhere for decades...

Takmon

d123 wrote: »

Someone else who doesn’t seem to realise that the whole country is not like them and there are millions of people who still rely on cash through the month, having some form of income in cash.

Cash won’t be going anywhere for decades...

I would say the opposite is true because you seem to think that every bank should accept cash deposits and not doing so means they aren't a "proper bank".

I'm saying Monzo should stick to what they intended to do and be the only bank not to accept any cash at all. I don't see why this would be a problem for people who feel they can't get away from cash as EVERY other bank accepts it.

So why do you seem to think it's a problem that one bank doesn't accept cash?

I agree cash won't be going away for a very long time but i don't see why you find it an issue if one bank decides not to accept it. There are enough people who never pay in cash that warrants it.

d123

Takmon wrote: »

I would say the opposite is true because you seem to think that every bank should accept cash deposits and not doing so means they aren't a "proper bank".

To be a bank they should offer all the basic services a bank offers, and being able to deposit and withdraw cash to/from your bank should be considered a basic service.

Before worrying about cultivating pots and all the other nonsense, get the basics right...

Takmon

d123 wrote: »

To be a bank they should offer all the basic services a bank offers, and being able to deposit and withdraw cash to/from your bank should be considered a basic service.

Before worrying about cultivating pots and all the other nonsense, get the basics right...

If you get paid by bank transfer and pay for everything by card and bank transfer then there is no need for cash withdrawals or deposits.

If you think that all banks should offer this service then to use your words i would say your "Someone else who doesn’t seem to realise that the whole country is not like them". Not everyone uses cash so if you want people to accept that some people rely on it then you also need to accept that some people don't use it at all.

So like i said a bank which is trying to "be the bank of the future" for lack of better words should certainly not accept cash and you need to accept that this is no longer a basic service for a lot of people.

dazzaofdagenham

Think monzo are offering 10 pounds are for new account opening