Monzo

ryan008

hi all , tried getting a chase account but couldn’t so I’ve ended up with Monzo whilst I clear my debts etc as couldn’t get any other account due to credit score.

im abit worried after reading many reviews people having accounts frozen etc I know there is probably reasons behind this! However I wouldn’t be in a position to be stuck and waiting for my money if that happened?

anyone with Monzo? As I will be getting my salary paid into it 

thankyou

ryan92

I've had Monzo for years with no problems.
The problem with these account closures you hear of online is you only hear one side of the story often with important facts left out so nothing more to worry about than any other FSCS protected bank.

Rob5342

Any bank can freeze an account, I've used Monzo for my main account for three years and I've never had any problems, neither have my wife nor sister in law. Their app is great and they really put the old fashioned banks to shame. That being said, it's always a good idea to have a few different accounts at different banks whenever possible so you have a backup in case of any problems. Starling is another bank you might consider, they are very similar to Monzo but their branding is more grown up, not that it really matters.

FlorayG

I've been with Monzo about 5 years and never had any problems that couldn't be sorted easily on the chat line. They are really quick to respond and the app is really good. I started to use it just for spending money but later made it my main bank account because it's so user-friendly

Zinger549

Been with Monzo for nearly a year and had no problems so far.

Shakin_Steve

Rob5342 said:

Any bank can freeze an account, I've used Monzo for my main account for three years and I've never had any problems, neither have my wife nor sister in law. Their app is great and they really put the old fashioned banks to shame. That being said, it's always a good idea to have a few different accounts at different banks whenever possible so you have a backup in case of any problems. Starling is another bank you might consider, they are very similar to Monzo but their branding is more grown up, not that it really matters.

How, exactly?
The reason I ask is because I have a Monzo account, but I can't really see anything different to, say, Barclays.

Shakin_Steve

Oh, and @ryan008, I've never had any problems at all with Monzo.

ryan008

Cheers guys , I’m impressed with the app too!

Rob5342

Shakin_Steve said:

Rob5342 said:

Any bank can freeze an account, I've used Monzo for my main account for three years and I've never had any problems, neither have my wife nor sister in law. Their app is great and they really put the old fashioned banks to shame. That being said, it's always a good idea to have a few different accounts at different banks whenever possible so you have a backup in case of any problems. Starling is another bank you might consider, they are very similar to Monzo but their branding is more grown up, not that it really matters.

How, exactly?
The reason I ask is because I have a Monzo account, but I can't really see anything different to, say, Barclays.

Pots, notifications that are actually instant, split the bill, direct debits that show up a few days before they are taken, being able to claim pay the day before you are paid, standing orders that go out on weekends, no branches, security features that check your location, pay a nearby contact, spending location shown on a map, ability to see historic payments data for every place you've spent, cashback at retailers. Some of the old fashioned banks have some of those features, but none of them are anywhere near Monzo.

Shakin_Steve

Rob5342 said:

Shakin_Steve said:

Rob5342 said:

Any bank can freeze an account, I've used Monzo for my main account for three years and I've never had any problems, neither have my wife nor sister in law. Their app is great and they really put the old fashioned banks to shame. That being said, it's always a good idea to have a few different accounts at different banks whenever possible so you have a backup in case of any problems. Starling is another bank you might consider, they are very similar to Monzo but their branding is more grown up, not that it really matters.

How, exactly?
The reason I ask is because I have a Monzo account, but I can't really see anything different to, say, Barclays.

Pots, notifications that are actually instant, split the bill, direct debits that show up a few days before they are taken, being able to claim pay the day before you are paid, standing orders that go out on weekends, no branches, security features that check your location, pay a nearby contact, spending location shown on a map, ability to see historic payments data for every place you've spent, cashback at retailers. Some of the old fashioned banks have some of those features, but none of them are anywhere near Monzo.

Yes, there are a few features there that are not available at my other, more traditional, banks. There a good few that are available. I guess the reason I wasn't familiar with some of those is because I don't use Monzo as my main account, but it's good to know in case that changes.

Rob5342

It's how well they work as well. Transaction notifications are always instant, but with my spare Halifax account they sometimes take over an hour.  That's absolutely hopeless if you want to spot fraudulent transactions.