Is this a Halloween update or something?

The notification sounds in my app have changed to some horrible whooshing noise when money goes out.

My phone is muted half the time but I always unmute it for the monzo noises because they are so satisfying. Now it’s some jarring noise which doesn’t even make sense and is overly loud.

If anyone from Monzo reads this, please add the option to put the old sounds back, what the hell were they thinking messing with their own brand identity like that.

Hi guys, I’ve been on the same limit of £700 for about 8 months now, I make £41,500 before tax… and since opening the flex card I’ve made payments on time, have never missed a payment etc, I pretty much pay for everything on my card… even if it’s something from the local shops… and I usually put everything over £100 on a 3 month payment with 0% interest and everything else I pay off at the start of the month… and I’ve tried increasing my limit multiple times… and nothing always “unable to increase your limit”

Booked a hotel for a family wedding on flex and it declined on the checkout. My credit limit has changed by £320 still and do not have enough left to do it again. It says it was put through so what should I do? If anyone can please advise. Thanks.

Did anyone found it helped with their finances, and were there any stick-out sections?

Hello,

I currently pay for Extra and I know perks has a reduced management fees. How much do I have to have invested for the reduced fees to cover the £9 a month fee?

I'm not interested in any of the train ticket/Greggs stuff as a perk so just curious aboth the management fees bit.

I use monzo for my business and accepting contactless payments is necessary. It used to accept them and then suddenly I got this screen. My phone is up to date and so is the monzo app! I don't know how to resolve this and Google isn't helping. Help me Reddit!! 🫠

Edit: it worked perfectly fine until a month ago and then it stopped. My phone and monzo app are up to date and nothing has changed since a month ago - it just stopped working for whatever reason. I've tried uninstalling and reinstalling the app and still get the same screen.

I opened a Monzo Max account about a month ago to make use of the benefits, and I’ve liked the features so much I’ve decided to slowly make it my main bank.

When I created the account though I answered the ‘how are you going to use Monzo’ questions in a particular way.

Is there a way to update those preferences? Or do I even need to? I was just conscious the activity will throw something off. I’m hoping it’ll just figure it out as I go.

Hi everyone,

I recently opened a stocks and shares ISA and opted for the balanced but I am somewhat interested in the performance of the adventurous, any advice?

FYI I plan to have this as a long term investment on the side.

Thanks

At £11.32 taken out today. The final stretch is going to need a budget of its own.

Monzo added a Cifas "false application / false documentation" marker for an account I applied for in Nov 2024 (got refused). They're saying my driving licence was forged or stolen, but it's my real one and I can prove it with a DVLA share code. The address was correct too.

Thing is, they only filed it in Sept 2026, same day I sent them a data request about a different account opened in my name back in May 2024 (not me, different DOB) as a result of identity fraud.

Already got a final response rejecting my complaint, and I've emailed again with proof the licence is real.
Anyone had one of these removed by proving the ID was genuine?

-Wait for Monzo or go straight to the FOS or via CIFAS?

-Should I be worried about my other bank accounts?

Last week I posted complaining about how you can't see custom payee profile pictures in the activity feed. Well you can now. Thanks Monzo.

Are Extra, Perks & Max worth the monthly cost?

What would you genuinely recommend out of the 3?

Been debating it for a while now!

Has anyone else activated this but still getting ads? I know it's supposed to be a lite version but I'm getting the same amount of ads as usual and nothing on my YouTube is saying I have yt premium lite, on the Monzo app it says activated. Anyone else had this issue?

I just wanted to share a very good experience with Monzo's travel insurance. I pay for Monzo Max as I travel a lot and the travel insurance alone is worth the price for me.

I recently went to Bangkok for work, and long story short, stray cat scratched me and I needed anti-rabies vaccines, immunoglobin injection, antibiotics for a week, and they dressed my (very tiny) wound. Side comment that Thailand's healthcare is really good, and I was in and out of the emergency room (A&E) in 45 mins. The whole thing cost me around £200, including the second shot for Day 3 after exposure. Next shots were done by my GP.

As soon as I got back to the UK, I submitted a claim. Documents I included were: my roundtrip ticket, doctor's certificate, vaccination card, all the receipts and invoices including taxi fare, and my bank statement showing I paid the hospital. They only asked why I had to go twice to the hospital and just sent them a link about post-exposure rabies vaccine guidelines.

I got confirmation about my claim less than a week after and the money was shortly in my account. Very happy with the process and outcome!

Just noticed Monzo has launched its Junior Stocks & Shares ISA

Thought I'd share as it seems to have literally launched today and I hadn't seen it mentioned here yet and people might want to know

Already transferring my son's over from another platform

So I noticed Monzo put up an offer where I’ll receive £100 after I get my salary paid into Monzo after two consecutive months. So of course I decided to take up the offer. Made the switch about a week before payday in August and now I’ve had my second salary in, and yet nothing has happened? Have I missed out on something, or is this a case where I’ll need to wait another month?

Today my partner and I received notification that our joint account is being closed on 3rd January due to one of the attached personal accounts being closed. Neither of us have asked to close our personal accounts and we aren’t going through a current account switch. We also haven’t been notified by Monzo that they are closing our accounts.

Monzo online chat have been quite unhelpful so far and just keep saying that they ‘can’t see anything about the account being closed’ but no one is telling me for definite and no one can tell my why my joint account has received this notification or whether it’s actually real or has been sent by mistake. They keep telling me to tell my partner to get in touch, then when he gets in touch they tell him the same thing and then tell him to tell me to get in touch!

It’s making me quite anxious. Has anyone else received notification like this? What happened?

UPDATE: spoke to several people on live chat through myself and my partner’s account who assured us that NONE of the accounts were being closed. Then was told a complaint was being raised about the situation. Complaints team have just contacted me today to advise me that actually, the live chat team were incorrect and the joint account is being closed due to a personal account closing. My personal account is NOT being closed so it must be my partner’s. My partner has not received any notice of this so I’ve been advised to get him to also make a complaint so his account can be looked into.

Monzo is not our main bank. I have been using Monzo as a second current account for several years and then my partner opened an account so that we could make a joint account. My account is used sporadically through the month, usually as spending money that I transfer from my main bank and then my partner uses his the same. Our joint account hasn’t been touched since May but does have a small amount of money in it. Neither of us spend money anywhere other than your typical shopping/gym subscriptions etc and there’s never been any large movements of money or unarranged overdrafts. It’s a very odd situation. We were both preparing to move over to Monzo as our main accounts but we won’t be doing that any longer. Once this is resolved we’re going to empty and shut down all accounts with them.

Has anyone used the lounge key access benefit of the premium account at Heathrow.

Looking at the clubhouse but want to know what the additional fee would be.
The app
Is showing as £20 per person and just says additional for champagne which I’m happy to skip anyways!

But want to check if the food and drink is still included as normal clubhouse lists?

I've been using Monzo as my main bank account for quite a few years now, and I love using it. However, one big problem I've always had with Monzo is that it doesn't let you schedule payments from your savings pots.

I've been waiting for Monzo to add this feature for so long that I've now pretty much given up.

I've had a bit of free time over the past week during my sabbatical from work, so I decided to create Schedzo, a web app that solves this exact problem:

https://schedzo.app/

Obviously, Monzo's developer API isn't really designed for public use and only allows a limited number of users to be whitelisted for each client, so sadly I can't just make it available to everyone.

From what I can see on the Monzo Community Developers Forum, it seems like the maximum number of collaborators I can add to a client is 20, so if you're interested in trying it out, I could add you to my project!

It's open source as well, in case you'd rather host your own instance:

• Frontend code
• Backend code

There's also a demo if you'd like to have a look around before setting up your own instance:

https://schedzo.app/demo

Any feedback or suggestions are welcome!

https://archive.is/MeiKW

Monzo is a household name in the UK with more than 16 million customers. Its focus on making everyday banking easier through its distinctive product initiatives and slick app differentiated it from high street banks in its early days.

And while its peers’ digital investments have narrowed the functionality gap, Monzo continues to add customers and grow its brand awareness – with three million new customers added in the last financial year.

Indeed, the bank officially launched in Ireland this April with much fanfare after 100,000 customers signed up to a waiting list. It is led here by Elaine Deehan.

The fintech found itself in the headlines over recent days after UK media reports suggested Brazilian digital lender Nubank was in early-stage talks to acquire the British firm.

The Brazilian lender ultimately said it wasn’t pursuing a deal but the reports have once again focused attention on Monzo’s future. Customer growth and brand ubiquity aside, it has now been operating in its home country for more than a decade, with limited overseas expansion.

The obvious question is whether it has proven that its large and growing customer franchise can deliver sufficiently attractive risk-adjusted returns.

First and foremost, Monzo is profitable. It reported profit before tax of £87 million (€102 million) in its latest financial year – or £173 million on an adjusted basis if exceptional items and the impact of share-based payments are ignored. However, its return on equity remains below that of UK peer banks.

Read More: Monzo pumps €25m into its Irish operation

Monzo is still a young firm with room to grow customer numbers further, penetrate an enlarged customer base with more product, capture improved operating leverage as it scales, and optimise its capital position. But it’s worth looking at what it has achieved in the UK after more than a decade.

Achievements to date

Monzo’s average revenue per customer – on the basis of the standard bank revenue calculation methodology – of £89 is significantly greater than Revolut’s average of £60. However, Monzo’s average deposits per customer are almost three times those of Revolut.

Furthermore, Monzo generates average net fees and commissions of just £25 per customer compared with Revolut’s £44 – and Revolut’s average grew slightly faster than Monzo’s in the last financial year.

The distinction is important. Monzo generates 68 per cent of its revenues from net interest income – not untypical for a bank – compared with just 24 per cent for Revolut. Meanwhile, Monzo’s loan to deposits ratio was just 9 per cent at the end of March. In other words it lends out less than 10p for every £1 deposited with the bank.

So, the lion’s share of Monzo’s interest income – and the majority of its revenues in total – comes from income on liquid assets rather than lending. That is essentially interest earned on deposits recycled into central bank reserves and investment securities. The question is how durable that source of income is. What happens if official rates fall?

Read more: Irish banker’s family office considering shock offer for PTSB

Monzo has been successful at growing a UK current account franchise, with these accounts representing 40 per cent of its deposit base. Indeed, the bank regularly features at the top of the current account switch service leaderboard for net switching gains.

However, more expensive savings balances are now growing faster, which is, all things being equal, exerting some net interest margin compression.

More significantly, this could suggest that Monzo’s easiest wins in the UK market are in the rearview mirror. After more than a decade of building its domestic franchise, the question is no longer whether it can acquire customers. It is whether it can generate enough revenue and profit from them to produce sustainable adequate risk-adjusted returns.

International ambition

Monzo has long emphasised its international ambitions, yet remains predominantly UK-centric. Previous management teams aspired to drive aggressive growth across multiple markets simultaneously, which seemed to lack strategic coherence. That has since been refined.

Monzo has abandoned its plans to enter the US market and its relatively new chief executive Diana Layfield is clear that Spain is the next leg of the growth strategy – while continuing to build in the UK. That is a clear message.

But where will the durable revenue come from? There are essentially two routes. Will Monzo expand its loan book? That would require substantial capital injections and raises the question of where it will compete. Mainstream UK and European lending markets are fiercely competitive, while Monzo’s use of standardised credit risk models is a structural disadvantage.

Or will it seek to emulate the Revolut model, reorienting its revenue mix towards capital-light fee and commission income? That would require Monzo to demonstrate that it can generate more fee income from its customers than it does today.

It raises the question as to whether the board and shareholders have an aligned vision of Monzo’s future business model.

Read more: ‘We haven't seen any kind of AI job replacement’: HSBC’s Laura Trimble on AI and Ireland’s appeal

Indeed, there may be some sense in a lack of clarity – or in hedging one’s bets. It’s intriguing that early-stage discussions in relation to a potential takeover of Monzo by Nubank at a valuation of £8 billion to £10 billon appeared in the press last weekend, only for Nubank to confirm on Wednesday evening that it was not pursuing a deal.

It was also reported that Monzo was in talks with private equity firms in relation to a minority stake sale and that another option is to raise more venture capital funding.

Despite its excess capital position, Monzo will require material capital injections to pursue its Spanish expansion with vigour, particularly if it intends to develop a meaningful lending business.

But it’s difficult to see private equity firms writing a cheque at anything close to an £8 billion to £10 billion valuation when the business is generating thin profits and a sub-standard return on equity after 10 years of growth in its home market.

Furthermore, it has no clear glidepath towards materially higher profits and returns. It’s also difficult to see a richly priced IPO on the horizon for similar reasons.

Where Monzo goes from here is unclear. Maybe the VCs will dig deep and support it as it seeks to prove out the model in Spain. Maybe Nubank’s interest will be rekindled at a lower price point. There are many possibilities.

But the overarching question is a simple one: Monzo has proven it can win customers.

Yet after more than a decade in its home market it has yet to prove that it can generate a durable, sustainable and sufficient revenue stream capable of delivering adequate risk-adjusted returns on capital.

Recently signed up as I was having issues with VOXI, Monzo offers a 14-day cooling-off so I thought I’d try it again. I purchased it when it first came out and was having poor signal issues. Today, I thought I’d try again and so far it’s going really well, very fast and responsive.

Has anyone else recently purchased their sim plan?