Agree, feels like virtual cards were launched when they were just half ready…
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Any update on this?
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Now you mention it… and now I think about it… you’re exactly right. And suddenly every Monzo launch in their brief history makes a lot more sense to me now.
It seems shipping unfinished products with the intent to finish them later is much too engrained into their DNA at this point. It puts me off them a little bit, and feels too google or EA for my liking.
I’m sure a lot of people like the approach, and I’m sure it worked well in their early days when they were able to engage more with feedback and adjust the features as they refined them. But that hasn’t really scaled too well as they’ve grown, and I’d personally like them adopt a more ship when ready approach rather than ship when it works and finish it later
I still believe this version of Monzo Plus is their most polished and finished launch to date, and hopefully they continue down that road with future stuff.
I think it’s a bit of a shame, because when Monzo actually do finish something properly and it’s polished, it’s quite often a masterclass in UX.
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What’s this?! Lootboxes in my Monzo app!?
I can get a sense of pride and accomplishment in my financial achievements?!
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But to actually reply to the substance of your post - I think this sums stuff up well.
V1 and 2 - complaints of it not being finished, very MVP, etc.
And there’s definitely more polish on the surface of V3 of Plus for sure - but still has the sense that the features behind are still not quite done.
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a strategy that becomes all the more risky when you are dealing with paying customers and wanting to retain them plus attract more.
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That was actually a thing with Plus 2. You could pay monthly to have a chance to win a metal card
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Until they realised they couldn’t do it because it was gambling and they did not have a license. Like posts above mention - things are just not thought through!
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I believe they are called “surprise mechanics” in EA land.
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Which they’d get away with if they were quicker to add the polish or gave meaningful timelines rather than going from silence to soon (which seams to mean anything from a few days to whenever).
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Monzo is stuck in the start-up mindset. Scaling up is difficult, but absolutely necessary when you get past a certain point. Yeah, die-hard early adapters might forgive launching MVPs and half-baked ideas, but normal people who just want a working bank — the vast majority — will not.
It’s time for Monzo to grow up and scale their processes and raise the bar for when something is ready to release. The start-up mentality is great when you’re small and growing, but when you have millions of customers it just doesn’t work.
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No, Ubisoft surely. You have access to this feature only if you buy the super premium edition with giant plastic figurine.
I am afraid I just cancelled today.
The more I thought about it, the less value it was worth.
The only thing I liked was the virtual cards, but is it worth 60 a year? The only saving grace is through that period I was getting full interest as I had to pay for a holiday to Jamacia. Now that’s been paid its even less value.
My problem is that all the gimmicks, except virtual cards are free with Lloyd’s, well as long as you pay in 1,500 a month and 2 direct debits.
As a lot of people have stated, I feel that Monzo’s products seem not finished.
Oh well back to the pink card.
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Totally agree. I’m paying for plus just because I like Monzo it seems. It offers no benefit to me except the small interest each month.
V1 and 2 - complaints of it not being finished, very MVP, etc.
Coming from a product background, I dare to say MVP is something you can actually ship that offers value and works for your customers.
Unfortunately, I think after all these weeks it’s still where it was in the beginning (MVP), and that is not a good sign. I was expecting UX improvements to how virtual cards are handled and managed, UX improvements to split categories and the way open banking is integrated.
We were sold on the idea that it’s a good set of feature worth paying for and I’m sorry to say but it’s not. At least not for me.
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I’m happy so far, use virtual cards all the time, the other accounts stuff and how they are presented is really good, and that’s worth a fiver.
I expect improvements, but I’ll give it a few more months before getting the grump
The Barclays Blue pays me £3 per month to bank with them. American Express pay me to bank with them… I prefer to receive than to pay out.
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Are you a premium member? Or a member who pays a premium to bank?
Exactly! Minimum viable product.
That’s an important word 
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I kow this has been shared elsewhere but thought this was an interesting stat…
In addition to approaching 5 million customers overall, it now has more than 60,000 business users — up from 25,000 signups in June — and more than 100,000 customers across its paid-for current accounts, Monzo Plus and Monzo Premium.