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What's new in Monzo: making money simpler to see and easier to control

October 25, 2021

This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
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Over the last few weeks, we’ve introduced you to some new things from Monzo, all with the goal of making your money simpler to see and easier to control. Here’s a round up of what’s we’ve released over the last month 👇

Now trending: your money

Two app screens showing the new Trends tab. It shows a big 'Spent so far' number, and a list of categories with totals next to them.

The better you understand your money, the more it’ll do for you. That’s why we built Trends – to give you in-depth insights, all in one place.

Trends is a check up on your financial health that’s only a tap away. It shows your spending and saving patterns across your Monzo and non-Monzo accounts, all in one place.

We’ve got big plans for Trends. Soon, it’ll show you graphs and charts and have custom time periods, and much more.

Read more about Trends

A better way to pay later with Monzo Flex

Flex - Plan Selector

Pay over time pretty much anywhere you use Monzo, on pretty much anything you want. With one application and a pre-agreed credit limit, all in your Monzo app if you’re eligible.

We’re inviting people to get early access over the coming months. Tell us you’re interested in the Monzo app, and we’ll let you know when your invitation is ready.

Read more about Monzo Flex

Take total control of your spending by paying on card, from a Pot

A virtual card and a notification saying "Household Pot. £25.00 at Amazon. Paid using your Entertainment virtual card."

Say hello to a whole new level of money management by paying by card directly from a Pot. Never miss an important payment by keeping your bills and subscriptions separate from your day-to-day spending.

Separate and spend however you’d like – by creating a Pot for bills, a Pot for nights out, a Pot for holidays or even a Pot to save up for your next big thing.

Only with Monzo Plus and Monzo Premium.

Read more about paying on card from a Pot

Getting paid is finally easier for business owners

Payment links

We’ve put every part of getting paid into Monzo Business, making the whole process easier for business owners and their customers. Once a job’s done, business owners can now send a customer a payment link or invoice. Customers can pay straight from either in just a few taps.

We’ll even take care of the admin, so business owners can spend more time on the things that really matter.

Read more about getting paid

One more thing… Now you can get cashback on international transfers!

A phone screen showing the international transfers screen inside Monzo. Now with added cashback.

Now with Monzo Plus and Monzo Premium, you’ll get 0.3% cashback on international transfers, or £3 for every £1,000 you send, on up to £25,000 of transfers. That’s on top of the improvements we already brought to our international transfers experience earlier in the year, where it’s now even easier to make international transfers right inside your Monzo app.

And because it’s powered by Wise, you’ll spend 8x less than high street banks to make an international transfer.

We build things that makes money simpler to see and and easier to control

We’ve always been about making it easier to see all your money and have more control over it. From the beginning, we brought you instant balance updates so you can see how much money you actually have. And we brought you Pots – a quick and easy way to separate, segment and save your money however you’d like.

In 2019, we introduced Salary Sorter and paying Direct Debits and standing orders from a Pot, to help you keep your bills money separate from your fun money and to help you save. And we brought you Get Paid Early – so you can bring payday forward to 4pm the day before you’re paid so you've got a little extra time with your income.

This month’s updates are another step towards our mission to make money work for everyone, and there’s so much more to come. We can’t wait for you to try it all! As always, we’d love to hear what you think, on social media at @monzo – or in the comments below.

We’ve got so much more work to do, but we wanted to take this moment to thank you for coming along on this journey with us 🚀

Why leave it there?

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