22 May 2018

Making Monzo Better: The Big List!

When we started Monzo, we wanted to build something better than existing banks. Our tagline on the homepage for a while was “the best current account in the world”. Even now, it’s “the bank of the future”.

But we’re not there yet.

Even though we’re offering current accounts to everyone with features like Direct Debits, standing orders, overdrafts, the Current Account Switch Service and much more, we’ve been hearing from customers that we’ve missed some of the basics.

These are areas where Monzo just isn’t as good as other banks — when we should be significantly better. We’ve heard about these everywhere, across Twitter, our community forum, in person at events and in direct emails.

We’re committing to improving and fixing everything on this list over the next three months. We’ll be working on this alongside new features (like Labs and Nearby Friends), because we also want to keep doing things that delight customers.

Thank you to everyone who’s given us feedback on these. If it wasn’t for our community, we wouldn’t have prioritised these things correctly and your voices have forced us to reconsider our approach and take an alternative route.

Graphic image showing a list

Follow along live!

We’re going to take transparency to the next level here and let you follow along as we fix the list below — we have a brand new Twitter account @makingmonzo, where we’ll be sharing regular behind the scenes updates on where we’re at! We’ll also keep this page up to date as we tick more and more items off the list and you can return to it anytime using the URL monzo.com/makingmonzo.



Until last Thursday, the feature at the very top of this list was Apple Pay. We’re so excited to have launched Apple Pay to all of our customers and now we can get cracking on all of the others on the list!


The List

  • Apple Pay

Launched! You can now use your Monzo card with Apple Pay (as well as Google Pay).

  • Withdrawing large amounts of cash and sending large bank transfers

Done! If you need to withdraw large amounts of cash or send a large bank transfer, just drop us a message through in-app chat. Please do this in advance of your transaction to give us time to review your account!

  • Better payee management
    • Ability to delete previous payees
    • Store previous references with payees

These are basic features that Monzo should have. You should see these fixed in the next month.

  • Improving recurring payments
    • Show upcoming Direct Debits in your feed
    • Show the amount and date of Direct Debits in your recurring payments screen
    • Ability to categorise Direct Debits
    • Editable standing orders
    • Edit notes and tags on Direct Debits
    • Retry failed Direct Debits later in the day

We've now built these features to help make your bills easier to manage.

  • PIN lock for the app for extra privacy
  • You can lock your Monzo app with your fingerprint on both iOS and Android, but that’s not always available or suitable for all situations. We're working out the best way to do this and would love to hear your thoughts.

  • Custom pay periods in Summary

Done! Most people don’t get paid on the first of every month, so making you budget like that is stupid. We’ve built the ability to set your payday into Summary (now in Monzo Labs!) so you can set Targets and budget in a way that suits you.

A must-have if you have family or friends overseas, we now let you send payments internationally with TransferWise.

Unfortunately, it looks like we won't make the deadline on receiving international payments. Read our latest update here.

  • Basic web interface for emergencies
  • Sometimes the unthinkable happens and you lose your card and your phone. You can call us anytime to freeze your card and order a new one, but being able to do it yourself is even better.

    There's now a basic web interface for emergencies!

  • Improving merchant acceptance so your card works in more places
  • Monzo should work everywhere Mastercard is accepted — and most of the time it does. However, as a new bank, we’re still finding some places where it’s a bit iffy and shops won’t accept it. We're working on this on an ongoing basis and we've detailed our efforts here.

  • Making it clearer how to deposit cheques with Monzo

Yep! There are now clear instructions in the Add Money screen of your Monzo app — all you need to do is pop the cheque in an envelope with FREEPOST MONZO on the front and your account number written on the back of the cheque. Early next year, we’ll be able to let you scan cheques from within the Monzo app and get them paid directly into your account.

  • Bring Android fully up to speed with iOS
    • Bring Targets to Android
    • Pay with fingerprint on Android. (Read more).
    • Travel Reports on Android. (Read more).

All of these features are available on iOS but not yet on Android. We know how frustrating this is for Android users and are bringing them all to Android within the next month.

  • 3D Secure
  • 3D Secure is that extra page that you’ll sometimes see when buying online that asks for another password. This provides additional security and some websites require that we do this, so we’ll support 3D Secure in the next 6 weeks.

  • Getting interest paid on savings
  • We don’t pay interest on your main balance and don’t plan to start — for most people, it only adds up to a few pennies and isn’t worth worrying about. However for people with money in Pots, it seems weird there isn’t any interest paid there. Within the next 2 months, we’ll let you create a Pot that’ll pay a competitive rate of interest. More details nearer the time!


There are a few specific features that aren’t on this list, but we know we still need to do. Things like cash deposits and paying in cheques with a photo are going to take longer than three months — we’ll be publishing updates about them over the coming weeks to outline our plans though!

We’d love to hear what you think over on the community forum! Which feature are you most looking forward to?

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