Stress about money is at the highest it’s been since 2015 according to a new survey and we’ve heard from many of our customers and community about the challenge you face in managing your money. One thing that came up again and again was the time and effort involved with managing multiple accounts and financial products.
Now, we’re going one step in the right direction and making the one hub that you need to track your spending and control all your other accounts. You’ll still see your familiar hot coral Monzo card on your Monzo home screen – but now you’ll also be able to link all your bank accounts (checking, savings, and joint accounts) as well as credit cards from other providers 💳 The most recent balance, recent transactions, as well as other useful information will all be at your fingertips. Plus, you’ll be able to quickly move money to and from your other accounts, allowing you manage your funds all in one place.
Track your spending, balances, and more 🧾
We believe that visibility is key in making more informed financial decisions, making it easier to budget, save for goals, and set aside enough money for bills.
Today’s update makes Monzo the central hub for all your spending, where you can easily keep track of all your accounts - no more jumping between banking apps 🔮
Swipe to your other debit or credit cards, to see your current balance, scroll through recent transactions, view account details, and more.
See at a glance all your balances across Monzo, Pots, and external accounts in our new overview screen - we even do the math for you and tell you your total net cash 💵
You can link checking accounts, savings accounts, and credit cards - so no matter how you spend or save your money, you can track it all within the Monzo app (note: we currently only support linking accounts via Plaid)
Available starting today 📆
We’re rolling out Connected Accounts starting today, and you should see it in your Monzo app within the next few weeks.
Any accounts you already have linked inside Monzo to make transfers will automatically start working with all these new features, no extra work needed 🪄
If you haven’t already linked any other accounts to Monzo, you can easily get your accounts setup byswiping left from your home screen.
Why Connected Accounts? 💬
Our recent user survey revealed that you were facing challenges managing your money - specifically around tracking money across multiple bank accounts and setting aside enough money to pay for bills. Connected accounts directly addresses these challenges. Our goal was to help you track your overall financial health, and ultimately help you achieve your financial goals.
We’re really excited to get this in your hands 🚢
It’s taken a lot of work from many of the members of our team to get all of this ready for today - so we’re excited to finally start releasing this and getting even more feedback from all of you. There is a discussion thread in our community forum which we encourage you to contribute to, and we welcome feedback, questions or thoughts via any other channel as well.
There's a long roadmap still ahead of us to truly deliver the fully-featured account we want to provide. On that note, if building a powerful set of money management tools as well as a first-class banking experience is something that sounds exciting to you - we’d love to have you join our team. We have lots of roles opening up - and you just might be the person we’re looking for.