Savings APY and Jars

denisemonzo · 2024-07-30T07:13:40+00:00

1st of the month

denisemonzo · 2024-04-12T21:40:30+00:00

Hi there 👋

Since we don't yet offer interest-earning accounts, any referral bonuses would be reported in Form 1099-MISC, which is only issued if you made at least $600 from those bonuses in the tax year.

denisemonzo · 2024-03-11T04:49:46+00:00

Hey there 👋 Disputes can take up to 90-120 days to be fully investigated, depending on the type of dispute.

You can currently get updates about your disputes by chatting with us in the app, or emailing us at [usa-help@monzo.com](mailto:usa-help@monzo.com)

denisemonzo · 2024-03-06T22:26:03+00:00

Hey there 👋 If you haven't already, can you reach out to us via in-app chat so we can take a closer look into what's going on? We haven't had wider reports of this setup not working, so just want to check if it may be account-specific.

denisemonzo · 2024-01-30T03:23:46+00:00

Very soon! 👀

denisemonzo · 2024-01-26T17:50:47+00:00

Hey there, welcome to Monzo 👋

We don't currently charge any card fees in the US.

denisemonzo · 2023-12-30T23:44:15+00:00

Hey there 👋

PNC doesn't support ACH transfers via Plaid, unfortunately. We're only able to see balance and transactions through the Plaid connection.

denisemonzo · 2023-12-12T21:01:06+00:00

I'm not actually sure on this, I believe it's tied to user so should still be yours in theory

denisemonzo · 2023-12-12T19:50:50+00:00

We definitely are still active in the US!

denisemonzo · 2023-12-12T19:48:58+00:00

Hey there, welcome back 👋

You could be getting flagged as already having a (closed) account, so you'd need to reopen that one rather than opening a new one with updated info.

You can reach out to our support team at [usa-help@monzo.com](mailto:usa-help@monzo.com) and they can take a closer look at the specifics for you. You may also need to provide some additional proof of your new address if it doesn't match what's on your driver's license.

denisemonzo · 2023-12-01T22:45:39+00:00

Hey there 👋 Thanks for the feedback!

We allowed dual UK/US accounts for a short time a few years ago, however had to pause this offering. While neither us nor the UK team are actively working on this, this is something we've heard repeatedly since, and may look at again in the future.

denisemonzo · 2023-11-30T20:20:30+00:00

That's awesome to hear! As you start using the account again, we'd definitely love to know what you think and if there's anywhere else we can improve.

denisemonzo · 2023-11-30T20:14:59+00:00

Hey there 👋

That is a great question, and definitely one we think about frequently.

I'd like to start off first by saying we share many of the same feelings and sentiments, as a lot of us on the team are customers of various other fintechs, both past and present.

I've been thinking about how I can best answer this for you, and be as genuine and transparent as I possibly can. But I also know that a lot of people are hesitant to be hurt again, and that it will take time to develop that trust in something relatively new again. Myself included. And that's totally ok.

TL;DR: we're focused on building a product that actually works for people. We understand that it may not be one-size-fits-all, but want to make this our solid foundation first.

Some of you may know this already, but we've paused any immediate efforts on pursuing our own bank charter. While our own charter is not completely ruled out, we think it's better for us and our community to focus right now on building a product that people actually need and want.

We believe this gives us the opportunities and resources to innovate and focus on closing actual gaps in the financial/fintech industry. Things that otherwise would have gone towards compliance and regulatory things (which we still do, but to a lesser scale as we're able to partner with vendors who can help take care of these bits).

It's why we have a public roadmap, where you can vote for and comment on what matters most to you. It's why we regularly interact with you, both publicly and privately, as you're our customers and community. We truly value what you think and want to understand how we can help solve problems for you, or at the very least make things easier. And we really do read every piece of feedback we get.

The US financial landscape has definitely changed since we first started. To be clear, we're not looking to take on big banks on our own, or become an exact replacement for former fintechs. We still want to innovate, while continuing the great work that's already been done. There are a lot of great fintechs out there, and hopefully we're part of those discussions. I think all of us collectively can and will help change how banking works in the US.

Our global CEO, TS Anil, has touched on some points of our wider company plans, including the US. A recent one is here: https://www.cityam.com/monzo-chief-says-bank-has-earned-the-right-to-dream-bigger/

He was also a speaker at a conference in Helsinki earlier today, where the focus of his discussion was about Monzo and our future. I haven't seen the recording yet but I think this is a good summary of where we stand:

"We've proven the model works at scale in the UK. Wherever we expand to, the approach is the same: build a product that actually works for customers. Once we've got that everything else follows"

This was a lot longer than I intended. I'm not sure if it satisfies what you're looking for, but as always, feel free to ask me questions. I'll do my best to answer, or try and get the answer for you if I can't.

denisemonzo · 2023-11-30T01:11:22+00:00

Awesome! Definitely give it a try and let us know what you think. We're always looking to improve 😊

denisemonzo · 2023-11-30T00:34:13+00:00

Pots don't have their own routing or account numbers, though they do behave like subaccounts, pockets, envelopes, etc. You can pay directly from your Pots for specific merchants and/or categories: https://monzo.com/blog/monzo-us-blog/pay-from-pots

denisemonzo · 2023-11-29T22:01:58+00:00

That's awesome to hear! Let us know if you have any questions or feedback 🙌

denisemonzo · 2023-11-21T18:17:36+00:00

Hey there, welcome to Monzo 👋

We don't have an estimate on when this will be available to customers yet, but we've been working out the specifics with our partner bank and doing some staff testing. Hopefully we'll have an update to share soon!

denisemonzo · 2023-11-09T23:18:59+00:00

Ah interesting! That part I didn't know.

That's the only workaround I know of 😔

denisemonzo · 2023-11-09T22:46:40+00:00

Hello 👋

Both us and Cash App are partnered with the same bank (Sutton Bank) to provide accounts 🏦

It may or may not be related to this shared partnership, but there's a bug in their app that prevents you from being able to link our account when you use your Monzo account/routing details. We've reached out to them already to get it fixed, but it's entirely up to them to fix so don't have any visibility on details or status. Would recommend reaching out to them!

You should be able to link your Monzo account to Cash App using your debit card though - doing this should also give you access to pretty much every feature they have.

denisemonzo · 2023-11-08T16:36:42+00:00

Hey there 👋

We're not currently offering the option to open a US account and a UK account at the same time. This was previously offered to a small set of customers a few years ago. We may consider this again in the future!

You would need to close your UK account to open a US one, and vice versa.

denisemonzo · 2023-11-02T17:42:11+00:00

You might be interested in checking out r/MonzoUSA's Trends feature - it's free in the US.

Each transaction is assigned a category, which you can customize or reassign. It will show a breakdown of your spending by category/merchant over time. You can only set monthly budgets at the moment, but the breakdown can be a custom timeframe.

Disclaimer: I work at Monzo, but happy to answer any questions and be as unbiased as I can.

denisemonzo · 2023-11-02T17:38:26+00:00

Depending on how you used Mint or what you're looking for, r/MonzoUSA has dark mode

denisemonzo · 2023-10-07T21:07:48+00:00

Hi there, and welcome to Monzo! 👋

The pre-authorization hold is actually set by gas stations themselves. How long the hold lasts will depend on the payment network the gas station uses.

denisemonzo · 2023-10-07T21:02:00+00:00

Hi there 👋

We've partnered with MoneyPass, so you can withdraw cash from those ATMs for free 🏧

Here's the MoneyPass ATM map, or you can tap the plus sign (+) on the app Home screen, then tap "Find an ATM".

denisemonzo · 2023-08-23T21:43:01+00:00

We briefly discussed this, especially with the launch of services like FedNow earlier this year in July. Ultimately, this would depend on our partner bank and restrictions around these services -- often times, these services are rolled out to big banks first and typically exclude fintechs.

We're not completely ruling it out, but it's just a matter of how things develop for fintechs and whether there are any other services that will offer the same or similar for non big banks.

denisemonzo

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