Some unique features but missing some basic functionality
4
Good: I can request funds by sharing a link, and people can pay me with a debit card. I just sold some flour to a neighbour and got paid into my bank account without sharing my account number, which is great given how useless cash is at the moment.
Bad: I got a £10 refund cheque from a utility provider. Cheques can only be paid in by post (or by hand delivering them to London). I sent it to the Freepost address, but Monzo claim they never received it, and I should ask the provider to stop the cheque and issue a new one, and that I can use a tracked delivery service if I'm worried about another one going missing. Paying £2 for tracked delivery plus envelope on a £10 cheque isn't worth it. Paying in cheques in-app like with other banks can't come soon enough for this supposedly all-digital bank.
Reviewed on: 28th April 2020
Great app, but some teething problems from a young bank
4
Very happy with my day-to-day experience with Monzo. Some niggles and rough edges—moving money out of interest-earning savings needs 24 hours notice (which occasionally makes things more difficult than necessary); cheques take an age to pay in as they have to be posted.
Reviewed on: 24th November 2019
Great app, good international options, shame about the interest rate
4
I don't use Monzo as my primary current account, because my accounts with other banks give in-credit interest at a significantly higher rate than Monzo's savings pots, and without the need to wait 24 hours when withdrawing money from them. However, the app is first-class, giving far better performance than I've experienced with other banks, and getting the MasterCard base rate for currency conversions is very nice, as is being able to take out (some) cash abroad without being charged a fee.
Reviewed on: 3rd December 2018
