Monzo, a U.K. challenger bank, raises £85M Series E

Re:Monzo, a U.K. challenger bank, raises £85M Series E by grey-area on Wednesday October 31, 2018 @07:43AM (#18344866)

Sure, that sounds painful if that is what you were used to. Just out of curiosity, why did you not set up a standing order? If you're using it regularly surely this would work just as well? Seems annoying to have to constantly top it up with small amounts. Was that a commitment too far?

When I was transitioning I did a v. small standing order first for a few months and used it for spending, then upped the amount, then eventually switched over salary, direct debits etc.

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Re:Monzo, a U.K. challenger bank, raises £85M Series E by m_t on Wednesday October 31, 2018 @10:33AM (#18345995)

For beta user, back when Monzo wasn't yet a bank account, the only to put money on it was to pay by card.

This was a habit that a lot of us had taken, and as described above, it was just easier to do all in one place: - Go check your monzo app - Notice you're low on fund - Top up using your card

A lot of us haven't switched completely, because why would you when other current account can give you travel insurance, small % of interest, etc.

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Re:Monzo, a U.K. challenger bank, raises £85M Series E by lol768 on Wednesday October 31, 2018 @03:46PM (#18348699)

> For beta user, back when Monzo wasn't yet a bank account, the only to put money on it was to pay by card.

This is incorrect - it was possible for a long time to top-up via bank transfer. Certainly during beta. It simply required using a shared sort code/account number with a specific numeric reference which tied the payment to your account.

It wasn't as instant as it is now (with Faster Payments), but it was still definitely possible.

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