Question about Monzo

jasonwatkins

I've just been accepted for my 4th credit card inside a fortnight and Monzo and Monese still don't think I'm worth anything

And yes, I do have a weird sense of humour !

[Deleted User]

jasonwatkins said:

I've just been accepted for my 4th credit card inside a fortnight and Monzo and Monese still don't think I'm worth anything

And yes, I do have a weird sense of humour !

They likely just don't want you as a customer. 
It's just business and I suggest you don't give it a second thought.

[Deleted User]

Deleted_User said:

jasonwatkins said:

I've just been accepted for my 4th credit card inside a fortnight and Monzo and Monese still don't think I'm worth anything

And yes, I do have a weird sense of humour !

They likely just don't want you as a customer. 
It's just business and I suggest you don't give it a second thought.

I have 8 credit cards but still get declined bank accounts.

jasonwatkins

Well I'm sure you'll all be delighted to know that I've just completed my application to Chase bank and now have an account with them, so I'm in the process of moving everything over from Revolut and I can draw a line under it finally.

Sod's law that Monese will come back and offer me an account by the end of the week

Daliah

jasonwatkins said:

Well I'm sure you'll all be delighted to know that I've just completed my application to Chase bank and now have an account with them, so I'm in the process of moving everything over from Revolut and I can draw a line under it finally.

Sod's law that Monese will come back and offer me an account by the end of the week

Surely you wouldn’t trade a Chase account for a Monese one? FSCS, cashback, savings rate …….

jasonwatkins

Daliah said:

jasonwatkins said:

Well I'm sure you'll all be delighted to know that I've just completed my application to Chase bank and now have an account with them, so I'm in the process of moving everything over from Revolut and I can draw a line under it finally.

Sod's law that Monese will come back and offer me an account by the end of the week

Surely you wouldn’t trade a Chase account for a Monese one? FSCS, cashback, savings rate …….

Well considering Monese have flatly rejected me for an account, it's not really a question that I can answer.   The only reason I mentioned them getting back to me by the end of the week was that I emailed a complaint about the way they've handled the situation.

But then the Chase account will only be used for my regular recurring payments.   I prefer having my monthly outgoings separate from my main balance, which is with Starling.   I appreciate that many are happy to pay everything from the one account, but I find this way works for me personally so this is how I do it.

wiseonesomeofthetime

You can add additional current accounts within the Chase app, once you're up and running.

Each have their own sort code and account number.

Will still keep things separate.

Up to you though of course. Mine are in accounts with separate providers, just in case issues with the bank processes on the day.

Daliah

jasonwatkins said:

Daliah said:

jasonwatkins said:

Well I'm sure you'll all be delighted to know that I've just completed my application to Chase bank and now have an account with them, so I'm in the process of moving everything over from Revolut and I can draw a line under it finally.

Sod's law that Monese will come back and offer me an account by the end of the week

Surely you wouldn’t trade a Chase account for a Monese one? FSCS, cashback, savings rate …….

Well considering Monese have flatly rejected me for an account, it's not really a question that I can answer.   The only reason I mentioned them getting back to me by the end of the week was that I emailed a complaint about the way they've handled the situation.

But then the Chase account will only be used for my regular recurring payments.   I prefer having my monthly outgoings separate from my main balance, which is with Starling.   I appreciate that many are happy to pay everything from the one account, but I find this way works for me personally so this is how I do it.

 I am not proposing you should only use one account. I was just pointing out that Monese, not even having a banking licence, are simply not in the same league as Chase (or some other actual banks).

Having several dozen current accounts [with real banks] myself, I know, and use where there is a benefit to me, the advantages of running multiple bank accounts. As far as Chase is concerned, I wouldn't forego their cashback for as long as it lasts, and they do have an attractive instant access savings account, too. I am not hot on their Round-Up but some people like this one, too. Chase are obviously no use for any cash or cheque deposits, for CHAPS payments, or for international bank payments and transfers. So I use different banks for this, amongst them Starling.

jasonwatkins

Daliah said:

jasonwatkins said:

Daliah said:

jasonwatkins said:

Well I'm sure you'll all be delighted to know that I've just completed my application to Chase bank and now have an account with them, so I'm in the process of moving everything over from Revolut and I can draw a line under it finally.

Sod's law that Monese will come back and offer me an account by the end of the week

Surely you wouldn’t trade a Chase account for a Monese one? FSCS, cashback, savings rate …….

Well considering Monese have flatly rejected me for an account, it's not really a question that I can answer.   The only reason I mentioned them getting back to me by the end of the week was that I emailed a complaint about the way they've handled the situation.

But then the Chase account will only be used for my regular recurring payments.   I prefer having my monthly outgoings separate from my main balance, which is with Starling.   I appreciate that many are happy to pay everything from the one account, but I find this way works for me personally so this is how I do it.

 I am not proposing you should only use one account. I was just pointing out that Monese, not even having a banking licence, are simply not in the same league as Chase (or some other actual banks).

Having several dozen current accounts [with real banks] myself, I know, and use where there is a benefit to me, the advantages of running multiple bank accounts. As far as Chase is concerned, I wouldn't forego their cashback for as long as it lasts, and they do have an attractive instant access savings account, too. I am not hot on their Round-Up but some people like this one, too. Chase are obviously no use for any cash or cheque deposits, for CHAPS payments, or for international bank payments and transfers. So I use different banks for this, amongst them Starling.

In a perfect world I probably would keep everything with Starling but while they have the ability to take direct debts from their ‘spaces’, they apparently still don’t have the ability to process recurring debit card payments so that’s generally why I use a second account.  It helps that there are zero foreign transaction fees as well for my other regular payments.

Daliah

jasonwatkins said:

Daliah said:

jasonwatkins said:

Daliah said:

jasonwatkins said:

Well I'm sure you'll all be delighted to know that I've just completed my application to Chase bank and now have an account with them, so I'm in the process of moving everything over from Revolut and I can draw a line under it finally.

Sod's law that Monese will come back and offer me an account by the end of the week

Surely you wouldn’t trade a Chase account for a Monese one? FSCS, cashback, savings rate …….

Well considering Monese have flatly rejected me for an account, it's not really a question that I can answer.   The only reason I mentioned them getting back to me by the end of the week was that I emailed a complaint about the way they've handled the situation.

But then the Chase account will only be used for my regular recurring payments.   I prefer having my monthly outgoings separate from my main balance, which is with Starling.   I appreciate that many are happy to pay everything from the one account, but I find this way works for me personally so this is how I do it.

 I am not proposing you should only use one account. I was just pointing out that Monese, not even having a banking licence, are simply not in the same league as Chase (or some other actual banks).

Having several dozen current accounts [with real banks] myself, I know, and use where there is a benefit to me, the advantages of running multiple bank accounts. As far as Chase is concerned, I wouldn't forego their cashback for as long as it lasts, and they do have an attractive instant access savings account, too. I am not hot on their Round-Up but some people like this one, too. Chase are obviously no use for any cash or cheque deposits, for CHAPS payments, or for international bank payments and transfers. So I use different banks for this, amongst them Starling.

In a perfect world I probably would keep everything with Starling but while they have the ability to take direct debts from their ‘spaces’, they apparently still don’t have the ability to process recurring debit card payments so that’s generally why I use a second account.  It helps that there are zero foreign transaction fees as well for my other regular payments.

Recurring debit card payments are the responsibility of the merchant who you authorise to charge your debit card at intervals agreed between you and them. This functionality should therefore be available for any personal Mastercard or VISA card.