Anyone successfully switched joint TSB account to Monzo?

RockTheShack

Hi,

Signed up to Monzo to help with budgeting out joint account spending, just realised they don't support joint account switches though some say on the community forum it is possible. Has anyone managed to do this from a joint TSB account, based on the ridiculous experience setting up our TSB account in the first place I haven't got high hopes....

TIA

eDicky

I can't advise how to do the switch, but why not keep both accounts? TSB for the 5% interest and Monzo for everyday use. Switch instead to a bank that pays an incentive if TSB become too unbearable.

RockTheShack

That's a good point, if we can't switch I think we'll just keep the TSB for direct debits and regular payments to take advantage of the interest

colsten

There's nothing stopping you from initiating the move of your DDs yourself. Just ask the payees to take the payments from a different sort code and account number. Many payees allow you to do this online.

PRAISETHESUN

Most banks will allow you to switch a sole account to a joint account, but NOT a joint account to a sole account. Since Monzo doesn't support joint accounts as far as I know, I'd be fairly confident you won't be able to switch. As above, it'd be better IMO to keep both accounts - TSB for the 5% interest rate and Monzo for everyday spending. Another option would be to consider Starling Bank - they are basically equivalent to Monzo and I'm pretty sure they have recently started to offer joint accounts

RockTheShack

PRAISETHESUN wrote: »

Most banks will allow you to switch a sole account to a joint account, but NOT a joint account to a sole account. Since Monzo doesn't support joint accounts as far as I know, I'd be fairly confident you won't be able to switch.

Monzo do support joint accounts, they just don't appear to allow a switch from one. I'm looking to get the joint switched to a joint, I've been advised by Monzo that they are planning to introduce this at some point.