Added Security - FAQs
What is Added Security?
We’ve released a trio of controls that you can opt into to make large bank transfers, or withdrawing money from a savings pot, even more secure.
If you opt in, you will set daily allowances for bank transfers and savings withdrawals, which, when exceeded, will require an Added Security check for subsequent transfers or withdrawals. Any edits to your Added Security settings or controls will also require you to pass an Added Security check.
You can choose from a variety of new controls to pass this check, including being in a Known Location, scanning a Secret QR Code, or having your action double-checked by a Trusted Contact, such as a close friend or family member.
If you're on the website, tap here to access it or on the app, click on the button below.
You can also access it by updating to the latest version of the Monzo app and then heading to “Privacy & Security” settings. You can get there by tapping on your profile at the top left of the Overview screen, then tapping on “Settings”. From there head to “Privacy & Security” settings, tap on “Added Security” and follow the prompts that will take you through the setup flow.
How do I adjust my allowances?
You can make changes to your allowances anytime in Added Security home by tapping the button below.
You’ll see two different sections in here for bank transfers and Instant Access Savings Pots, at the top right of these you’ll need to tap “Edit” and that will let you adjust or disable them after passing a check.
Why did you select these 3 security controls?
We hear feedback from customers that they sometimes worry about carrying their entire financial lives on their phone so we wanted to build a feature that gave people increased peace of mind.
We also wanted to give everyone a choice over the level of friction when making transfers or withdrawals in the Monzo app.
From talking to our customers we know that some people want the option to leave their savings at home while others value the option of having a trusted friend or family member double check higher value payments.
What happens if I can’t pass one of my security controls?
You need to set up at least two controls, ensuring a backup is always available for added peace of mind.
If you can’t use any of your security controls, you can choose to instead pass an identity check by recording a short video of yourself, so that you’re always able to access your money.
How do Trusted Contacts work?
You can choose a trusted contact who uses Monzo to tell you whether a transaction looks safe or is suspicious.
You will consent to them seeing limited information about the transfer or withdrawal, and we’ll recommend that your contact calls you if they are unsure or think it looks suspicious.
What happens if my trusted contact says they think a payment is suspicious - does this block the payment?
We’ll let you know that your trusted contact doesn’t think the payment looks safe.
You will be able to choose at that point whether to continue with the payment using a different Added Security control, or whether to reconsider making it at all.
If I want to make a transfer and I’m not in one of my known locations, how easy would it be to transfer money or turn the feature off?
You need to set up at least two controls, ensuring a backup is always available for added peace of mind.
If you can’t use any of your security controls, you can choose to instead pass an identity check by recording a short video of yourself, so that you’re always able to access your money or make changes to Added Security.
How do Secret QR Codes work?
Secret QR Codes include a high-security personal password that only works with your account.
We ask you to print this out and store it securely, or keep it on a separate trusted device that you don’t carry around.
Is printing a QR code secure? What if someone else finds it?
Your Secret QR Code only works when scanned in your Monzo app during an Added Security check.
It doesn’t include any personal information, or allow access to your account by itself - so if someone finds it, it’s useless to them without your phone and the ability to pass a biometric or PIN check.
Why do you need a printed QR code?
Our Secret QR Codes are the digital equivalent of a safety deposit box key.
You don’t have to print it out - you can instead choose to store it on a separate device that you don’t carry around.
Can I use this to increase my existing limits for transferring money?
Unfortunately not! The allowances for your Added Security controls are only there so that when you attempt to make a payment over your daily allowance, it’ll prompt you to do an additional security check.
How do I reset my secret QR Code?
If you'd like to reset your QR code for any reason, you can do that by turning off Added Security and setting it back up again.
That will reset the QR code, meaning that the one you had before will be invalid.
Can I remove a trusted contact before finishing setup?
At the moment, no. You'll need to complete the setup which will involve setting up at least two different controls from Secret QR Codes, Trusted Contacts and Known Locations.
Once you complete setup, you can then remove controls, edit your allowances and also disable the feature from Added Security settings within Privacy & Security.
If you leave things as they are, Added Security will not be active. You won’t get these extra security checks, and the person you invited as a trusted contact won’t see anything about your account.
How does Added Security work with scheduled payments?
When you create or edit a scheduled payment, we'll always ask you to complete an Added Security check. This means that when your scheduled payment takes place in the future, we don't have to delay it for Added Security checks.
How does Added Security work with my joint account?
You’ll get an Added Security check on any transfers or savings withdrawals over your allowances that you personally make from your joint account.
However, your security controls only apply to you, so to fully protect your Joint Account transfers and savings, your Joint Account partner will need to set it up too.
