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.
I don’t quite understand what you are trying to ask me Seb?? 
He doesn’t see value in it so has been on an agenda all morning telling people in various topics and how Barclays is so much better.
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I have noticed this lol, hence my reply to him in another post 
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Yeah, it’s one thing to provide feedback or opinion on the product/feature set, and another to keep posting the same thing on and on in hope of stirring drama.
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From the report linked above, it is stated that 2% of customers have a paid account with Monzo. That is nothing to shout about - I believe it wasn’t so long ago we were told that they had a take up rate that legacy banks would love to have?
2% seems like a huge take up rate to me, but that’s not really based on anything.
I think it will depend if that upward curve keeps going or flatlines.
If they keep adding 20k (or more) a month then that’ll be great, if that slows down to 2k a month, then not so good.
However in the context of a company burning millions a month, 2% (many of which are only paying £5 a month minus interest) isn’t going to cut it without other revenue generating services (eg business banking). It will be interesting to see how many paid for account customers they add in the next year after the initial burst after launching the products.
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