Why do deposits take longer than Monzo?


#1

Why does it take longer to deposit money from my Nationwide account into my Revolut account than it does to deposit it from my Nationwide account into my Monzo account?

Nationwide to Monzo is instant, whereas Nationwide to Revolut take much longer, especially on weekends. I’ve made a deposit yesterday (Saturday) and it still hasn’t arrived today (Sunday) and it’s looking like I’ll need to wait until Monday for it to appear.


#2

What the hell. The bank transfer has still not arrived and it’s Monday!


#3

So the funds arrived in my account today but now I need to Uphold a bunch of documents to increase my top-up limit.

Which again begs the question: why didn’t I need to do this with Monzo?


#4

I want to leave my old bank to get away from these sorts of annoyances. Not create new ones for myself.


#5

Now it’s telling me it be could 96 hours before my documents are verified and my money is available to me


#6

Hey Christiaan

The limits are visible in the app and laid out in the terms of service. You agreed to the terms of service when you signed up.

Monzo are using another partner for the transfers in and I believe they have a Banking license which might make it easier for them.

This weekend was a Bank Holiday in England and that is likely the cause of the delay.


#7

That’s right, Monzo operates with a banking license.