self

Moving to Monzo

Monzo is one of the next generation “challenger” banks. They are a mobile only bank with no physical branches. Initially setting up with a pre-paid MasterCard, they have now moved onto a current account with their own payment processor. I’ve had the option of an account for well over a year (from when they were Mondo!) but only in March did I decided to get a current account card. I’ve been using it for some spending and today I finally decided to do the switch. Unfortunately I’m not fully switched due to having a child saver account attached to my TSB current account so I can’t close my main account. As well as the Full Switch, the Current Account Switch Service offers a partial switch – moving all your regular payments from your own bank to your new account. I went into the app and started the partial switch, entered my bank details for TSB and a few hours later, I got a ping:Then I was presented with a list of regular payments I wanted to transfer (I kept them all ticked for ease), I press the button and bam, job done.I then got a bunch of pings and in-app notifications for each payment that had been set up (including company logos as usual). Everything from council tax, gas & electric, to insurance was brought across.Simple as that. I pinged my HR contact earlier to ask for my details to be updated for my salary pay and that’ll be it. I like Monzo; I get ping for any payments made to or from my bank card, I can tag payments with notes and file them under different categories, and they have lots of other cool things. After the IT fiasco that TSB had when they finally split from Lloyds Banking Group, I needed a bank who were more than just the traditional high street bank. Monzo are who I’m staying with. Now, if only Monzo did child savings accounts…

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