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

Re:Monzo, a U.K. challenger bank, raises £85M Series E by baby on Wednesday October 31, 2018 @02:36PM (#18348186)

to answer your question, you used to be able to "top up" your Monzo card directly from the app. It was really quick if you needed more money on the card. As someone else commented elsewhere, most people use it to pay for things, but still use another more ancestral bank to get their paycheck.

Now you need to go in your bank's app, log-in there, go through many menus (because banks which are not Monzo or Revolut have no clue about UX) in order to send money to your Monzo card.

It's still free, and instantaneous. It's just more cumbersome now.

They also removed the "no fee withdrawals abroad" and now you pay a pretty substantial fee (3%) above 200GBP per month. I might be wrong on these numbers but this is what I remember.

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Re:Monzo, a U.K. challenger bank, raises £85M Series E by grey-area on Wednesday October 31, 2018 @02:59PM (#18348355)

Sorry, that probably wasn't clear. I was trying to say this was a deliberate choice as they want to be a bank, not a prepaid card.

If they are your bank you don't need to add money periodically with a card.

The fee for withdrawals abroad is unfortunate but perhaps they'll be able to up the limit sometime.

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Re:Monzo, a U.K. challenger bank, raises £85M Series E by baby on Wednesday October 31, 2018 @03:03PM (#18348395)

oh yeah definitely, I got used to toping up via Lloyd's app and I'm fully supporting Monzo to grow.

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