5 Year with Monzo - times up

Joined Monzo in May 2018, was also an early investor but after 5 years I’ve decided time to move away.

Having full embraced Monzo switched as my main account, Salary, Direct Debit, Savings the lot, joint account with the wife - Premium customer since launch.

So why am I packing up?

First off, I love the Monzo app, the early features, early payday offer.

I’ve found Monzo’s offerings nothing short of poor or stagnant, the same offerings have been in place for Premium customer with no new or anything that sets them out from the rest.

Integration with other finance services or offerings, Pensions, Greater Saving options, Shares and Stocks along with Credit Card, they offer Flex 3 payments but nothing compared to Klarna.
Getting a credit facility with Monzo seems like you need a 999 credit score, I admit I don’t have the best but I have offerings elsewhere.
Monzo do seem a out computer says no approach where other banks look at you as a customer, your history enforce deciding.

I understand Monzo have invested huge amounts in the US market but I feel over the past couple of years the UK customer base has been let down and left behind.

I feel if Monzo provided greater offerings and services or improved premium services more and more customer would join.

I like all my services in one place no matter if that’s Sky TV, BB, Mobile etc the same should be with Monzo.

I have been watching revolut very closely and even they have now offered an Ultra package as part of the premium accounts, comes at a cost but if you fit into that account and take advantage then I’m sure it will work for you, it’s another way they are widening there offerings to provide a greater options for the customers.

That said I’ve not moved to Revolut I’ve actually moved back to Lloyds Bank.
My main bank, investments, savings, Pension, Loan, Home Insurance all in one place.

I believe Monzo has missed a trick in not expanding its offerings or it’s partnerships - I now have all of my financial matters in one place and under one app.

I will miss some of Monzo’s features but I believe 5 years I’ve given them enough time.

Good Luck


Thanks for taking the time to post. If Monzo is doing it right, this feedback will be difficult but important.

Good luck at Lloyds! :wave:


Thanks for the feedback! Monzo are looking at a renewed paid offering and there have been some surveys going round. It’s only a matter of time.

I don’t know what Klarna does that Flex doesn’t so can’t comment on that.

And with having everything under one roof, it’s different strokes for different folks but while I understand the convenience of having it all in one place, I would always shop around for the best deal which banks’ own insurance products never are.

Plus you’re risking all your financial life being binned off in one go if you do something the bank deems like a cause for termination of relationship.


Interesting feedback.

Not sure you can blame Monzo for you having a bad credit rating, lots of what you’ve said is/has changed, and is worse elsewhere. Revolut aren’t even a bank!

Good luck with Lloyds.


2 posts were merged into an existing topic: Removed Posts - June 2023

Thank you for giving your feedback! Feedback is always helpful for the Monzo team, even if some users don’t like to hear negative viewpoints on here :slight_smile:


Not sure where this was meant to go, maybe worded poorly, but yeah Lloyds do have the full set.

I just don’t enjoy the Lloyds app design, the functionality and product range is there for sure.

Really not true given mine is :poop: I have £2k Flex and £1500 overdraft. Either you’re not paid by bacs or your spending/outgoings are viewed risky. Then also handling of external credit probably doesn’t look good to them somehow.

Work is being looked at here but as with everything, snail pace and no insight to what’s coming.

Definitely one to watch :ok_hand:t3:

Their regulatory investigations and growth have taken the forefront, and it seems now those are surely being addressed, app design and smaller tweaks are being rolled out.

While beneficial to some, it’s only ever beneficial once as payday just moves earlier once and then remains that day or so sooner.



You might want to consider keeping your monzo account open for when you decide to move back :slightly_smiling_face: reopening an account can be difficult if not outright impossible…


I did not blame Monzo, it feels extremely difficult something I and other users have experienced dispite getting these services elsewhere- I understand they have to look at risks but I did not blame them.


Good point and thank you

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Thank you and yeah I think credit facilities no matter what type should be explained better, decision making - not blaming Monzo either everyone defaults to the standard response these days my point was more around that Monzo was my main bank salary paid in. Via bacs, savings etc but other banks offered me credit facilities be that overdrafts and loans, just seemed odd Monzo could not offer me anything.

Thanks you for the other feedback and responses I will keep an eye on what’s Monzo do in the future for me it’s just too slow.


Thank you I have broad shoulders, I wanted to share my feedback in a way that how Monzo effects me, how I use and wanted to use it along with how I would like it to evolve iand why I made the decision.


Thank you.

I have spent sometime researching all the offerings I wanted, be that price, multi offerings for now and future use compared that to having multiple accounts with different providers, single providers.

These days switching is easy and it’s extremely competitive.

But I did not base a decision based on a single factor i.e. are they cheaper, I looked at the service ratings, customer service, functionality and more important does it do what I want.

Termination of a bank account can take place no matter who you bank with and the FOS provide additional guidance to banks in 2021.

Thank you.

Au revoir :wave:

Unless you’re actually closing your Monzo account, in which case , bye bye :grimacing:

Personally, I don’t keep all my eggs in one basket. Each to their own :man_shrugging:

Hope you have a back up account though, Scott. Always worthy of consideration in this day an age :+1:

And yes, Lloyds is one of my many accounts. Club Lloyds, in fact, and I’ve had no issues with them, yet :smile:


An informative read. I left for much the same reason, and I think the thing this touches on is convenience.

I left for HSBC because everything is under one roof and, crucially, the offers (some premium, some as standard) actually change and are useable.

I suppose this is why Lloyds, everything under one roof with a set of aligned offers. This should be a good, if a little challenging, set of feedback and if I may take another personal observation.

Monzo isn’t for Families. Now, I’m sure there are many families on here who say well that’s just not true but….

With other banks you can very easily get a set of accounts, including joint, and offers that cover every member sufficiently. I’m looking at you Monzo Premium Travel Insurance :eyes:.

While normally these posts are a varient of why someone doesn’t like Monzo, this one has some very useful feedback.

One other thing - someone on here said Monzo flex isn’t picky. It definitely is. I looked at flex when considering staying and was offered 2k, I went with HSBC (which had the same info as Monzo) and was offered 6k straight off the bat.


Thank you, also agree with your other points made.

Most companies rely on ecosystem be that Amazon, Google, Apple - Banking is no different.

The greater the product range, the inclusive ecosystem the more you sell the more customers you gain.

Would I recommend Monzo, absolutely yes, I believe there a decent day to day bank but for me after 5 years and 5 years older I’m looking for a lot more


Completely agree with you! 100% agree!

I have been here since beta, 6 years ago, and I am saddened to see that they are not trying to improve the free account anymore since they made the USA accounts.
(Still no USD Iban either)

All this time I kept saying I was holding off moving and wasn’t “full monzo” due to lack of basic bank features I need. Features that all other banks have.

Now after holding out for 6 years, I opened a bank account elsewhere.
I had hoped that Monzo would add features such as IBAN (EUR & USD) and cheque imaging plus others, but it seems that they don’t really add any new features to free accounts very often anymore (yes I know they JUST added EUR IBAN, but no USD still and it took over 6 years just for EUR IBAN)

I still use my account and keep hoping, but I gave in and opened an account elsewhere with a company that adds features all the time.

This is just my personal opinion and agreeing with the op.
Not giving hate or wanting a discussion about it, just giving my opinion and agreeing.

(I won’t see replies as I turn off notifications due to trolls. I am also disabled and typing is too painful. I am just giving my opinion and agreeing with the OP. I am not here for advice or a discussion as it is too painful to type)


Thank you for your additional feedback and wishing you all the best with your health


Curious, which is this?


These posts do the rounds every now and then.

Someone gets a bit disgruntled by something, then bundle it with a bunch of other stuff they’ve suddenly noticed and wrap it in a Monzo have stagnated message. There was literally another update from Monzo that followed the next day :person_shrugging:

Monzo never can and never will please everyone. The way people manage their finances change and if you find that you need different things then absolutely switch. It’s what CASS was created for.

Monzo is still growing and winning lots of awards so they’re clearly on the right track. I for one think that they need to remain as focused as they currently are and not do any of the things listed - but I’m just one voice in all of this too. Time will tell how it all plays out :face_with_monocle: