How to Deposit Cash into Monzo Bank Account UK & Limit
Looking for how get deposit cash into your Monzo bank account in the United Kingdom (UK)?
To deposit cash into your Monzo bank account in the UK, visit any PayPoint store near you or try alternative methods to add money to your account
Therefore, find out in this post the process, how to find the closest PayPoint store, cash deposit limit and related topics.
How to Deposit Cash into Monzo Bank Account
Monzo bank partners with PayPoint to accept cash deposits into a customer’s account. There are over 28000 across the UK, hence there is likely a PayPoint store close to you.
Here is how to pay cash into your Monzo bank account:
- Visit any PayPoint store near you.
- Give the attendant your Monzo debit card and cash.
- The cash amount will be deposited into your Monzo account.
Note: You can deposit cash of up to £300 into your Monzo account. Also, when you pay cash from any PayPoint store, you will be charged £1 transaction fee.
How to find Nearest PayPoint to Pay Cash
There are PayPoint stores around you to deposit cash into your Monzo account you are not aware of. Some of them are Spar shops, Co-op and Tesco Express but not all of them.
Here is how to find a PayPoint store near you to deposit cash into your Monzo bank account:
- Go to the PayPoint website.
- Enter your postcode.
- Click on any of the stores to view the address, opening times and phone number.
The next step is to visit your desired PayPoint store to pay cash into your Monzo bank account.
Monzo Cash Deposit Limit
There is a Monzo cash deposit limit per transaction and 180 days on your account. You can deposit cash of £5 minimum and £300 maximum in one transaction to your Monzo bank account. Furthermore, £1000 is the limit of cash you can deposit within 180 days – that is about 6 months. These are the cash limit you can receive in your Monzo account through PayPoint.
Monzo Cash Deposit Fee
You will pay £1 fee when you deposit cash to your Monzo bank account from the PayPoint store. For example, if you pay £100 into your account from the PayPoint shop, you will receive £99 in your Monzo bank account.
Note that both limits and charges only apply to cash deposits. That means Monzo will not charge you a fee when someone transfers money to your bank account or impose a limit on it.
Can you Increase Monzo Cash Deposit Limit?
You cannot increase Monzo cash limit, however, you can use other methods to deposit money into your account when you exceed the limit. You can deposit cash into someone else’s account and transfer it to you.
Also, note that the limit is only for cash deposits. So you can receive more than £300 or £1000 into your Monzo account at any time.
Can you Deposit Cash in Monzo at Post Office?
Currently, you cannot deposit cash at any post office to your Monzo bank account. Other UK banks like Barclays, Halifax and Natwest allow their customers to deposit into their respective account through a post office. But for Monzo, you use the PayPoint store, not post office, to pay cash into your account.
Can Someone Transfer Money to Monzo Account?
Someone else can transfer money to your Monzo account for free either in the UK or through an international transfer. And there is no limit to how much money you can receive. This is another way to deposit cash into your account if you exceed the Monzo cash limit.
Not only can someone transfer money to your account, but you can also receive your salary through the Monzo account. Though online, Monzo is a bank account you can use for financial transactions. Even, use your Monzo bank statement as a proof of address document
Can you put money into an ATM for Monzo Account?
Monzo does not have an Automated Teller Machine (ATM) that accepts cash into your Monzo bank account. To put money into your Monzo bank account, transfer it from another account. But if it is cash, deposit the amount through any PayPoint store near you.
Although an online bank, Monzo bank makes a provision to deposit cash into your account through the PayPoint store near you.
There is a limit to this cash deposit into your Monzo account. However, there is no limit to how much you can receive through bank transfer.
I hope you find this information helpful.
Therefore, try it and let me know your experience by leaving a message in the comment section below.