3 Jul 2018

We’re halfway through The Big List! An update

Graphic image showing a list

Six weeks ago today we published Making Monzo Better: The Big List, a list of features that we’d heard from customers they needed in order for Monzo to replace their existing bank account.

We committed to fixing them all within three months and now, halfway through, we wanted to reflect on our progress and update you on exactly where we’re at.

Graphic image showing a list

Below, we’ve updated details on each of the items that are still to come, and the good news is we’re still expecting to be able to do all of these on time. Plus of course we’ll still be releasing other features that aren’t on this list — like Bill Tracker.

Follow along live!

We have a Twitter account created specifically for this project and people seem to really love it, so check out @makingmonzo where we’re sharing regular behind the scenes updates! We’ll also keep this page up to date as we tick more and more items off the list. You can come back to it anytime using the URL monzo.com/makingmonzo.

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

Here’s a bunch of small annoyances with Direct Debits and standing orders on Monzo.

These should all be fixed within the next six weeks.

  • 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.

  • Joint accounts
  • Being able to share a Monzo bank account with another person is crucial to so many people. We're testing these with a couple of hundred people and will be rolling it out to Monzo Labs in the next two weeks.

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

We’ll also give you an IBAN and support inbound Euro transfers to your Monzo account so you can receive payments in the next six weeks!

  • 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!


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

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