Monzo account
So I've been seeing quite a few things about Monzo closing down accounts and not returning the money around social media lately. I mainly use Monzo for savings as its got the some good interest for me currently and I really like the pots. I was planning to use monzo for my sfe and use the pots to organise the money around but I'm worried that monzo may close my account if they suddenly see a large amount of money coming in and flag it up. I have a starling account but I cant for the life of me find if they have a savings space and what their interest is and I have to wait a month to open a revolut account.
Just wondering if this is something I should worry about and has any other students who use monzo for their sfe ever had problems like this.
Just wondering if this is something I should worry about and has any other students who use monzo for their sfe ever had problems like this.
Original post by Carrotsroom
So I've been seeing quite a few things about Monzo closing down accounts and not returning the money around social media lately. I mainly use Monzo for savings as its got the some good interest for me currently and I really like the pots. I was planning to use monzo for my sfe and use the pots to organise the money around but I'm worried that monzo may close my account if they suddenly see a large amount of money coming in and flag it up. I have a starling account but I cant for the life of me find if they have a savings space and what their interest is and I have to wait a month to open a revolut account.
Just wondering if this is something I should worry about and has any other students who use monzo for their sfe ever had problems like this.
Just wondering if this is something I should worry about and has any other students who use monzo for their sfe ever had problems like this.
Why not open a student bank account for your maintenance loan and to manage your day-to-day living expenses? You would also get a free overdraft facility. The accounts can be opened when your place is confirmed in August, and you'd still be able to keep your Monzo account for savings.
https://www.moneysavingexpert.com/students/student-bank-account/
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