Going full Monzo

I’ve recently switched my bank current account to Monzo.

Beta user

I’ve been a user since March 2016 when the bank was in beta, but even though I’ve enjoyed using the app for short periods, I never really used it for sustainable periods because it wasn’t my main account.

Overdraft

One of the last blockers to me switching was the fact that my old overdraft was bigger than the one Monzo would provide. So I decided to bite the bullet and get a separate loan to pay that off (and a few other things – ahem). So I could switch to Monzo without needing an overdraft.

Switching

Once the overdraft issue was sorted, I tried to use the automatic account switch, but that failed. I think it was because my old account was a joint account.

Manually switching was a pain.

It highlighted how easy it can be to update your direct debit details with user-centred companies like Bulb

And also how bad it can be. With one company I had to request a paper form to be posted out to me. Then I had to return it. Then they posted out a confirmation to me. Which was wrong, so I had to call them up to fix it.

In the end I did manage to do it all within one month. But I did have to create a Trello Board to manage it all.

Benefits of switching

I’m trying to be more sensible with my spending and I think Monzo helps me do that.

I love that I can put money aside for bills into pot, and clearly see available spending money that’s left for the month.

I also like that, at a glance, I can check whether I’m spending too quickly or that I'll have money left over.

Conclusion

So far I’m really happy. I was slightly nervous when I heard the bad press about peoples’ accounts being frozen, but ultimately, the way Monzo responded to it put my mind at ease.

It would be nice if all companies I dealt with had the same great service design as companies like Monzo and Bulb.