50k Plus Accounts

Don’t think I’ve seen this on here, but per the Twitter account, 50k plus accounts.


So I guess a quarter of a million £ per month. Potentially £3 mill in a year at 50k accounts.


Well thats better than the 1 in 100 thrown about the other week @tbutz

Im impressed they have convinced 1 in 90 accounts to go Plus (based on 4.5m account).

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This is good news for Monzo’s Financial stability but I do worry about further growth and retention rates moving forward. As a day one plus subscriber I’m not 100 percent sure on the value for money and o think some more features and more and better discounts need to be added to keep people subscribed and attract new customers.


**waits for someone to say they would have more if they supported joint accounts.

p.s. Congratulations Monzo, I’m really impressed with the product so far and keen to see how it develops.


They’d have more if they supported joint accounts :joy::joy:


It’s fantastic news, and well deserved given how much work the Plus team put into it. The kind of take-up rate most could only dream of. :hot_coral_heart:

I know there’s more to come though. :stuck_out_tongue:



I’m now wondering out of the £250,000 each month coming in, how much is taken from away from that?

You have the initial cost of making a fancy card, but thats usually a one-off cost apart from the few people replacing a few times.

Apart from that you have these that not everyone will make use of

  • 1.00% AER/Gross (variable) interest up to £2,000
  • 15% off Patch and many more
  • 1 free cash deposit a month

The rest of the “benefits” are continued internal dev costs, and I assume theres no new costs involved its just crack the whip and carry on adding things but don’t give to the “free” account people.


If they don’t cancel, and less any costs associated with sending out new cards, less the interest they’re paying out…

Against a £113m loss last year, I’m still sceptical.

Plus has been all consuming in terms of development resources over the last few months, and for all that time and effort they’ve barely put a dent in the annual losses, and they’ve developed a product that 99% of customers can’t use. Is this a winning formula? :thinking:


Why can’t 99% of people use it?

More than 1% are already subscribed.


So how are we all feeling about Plus a month in? (Is that thread already made?.. Yep I found it) I feel like there’s a poll coming…


Wait they lost 113m ?! That scares me now that they’re gonna go bankrupt

well technically its over 1% just so lets call it 98.8%…

(50000/4,499,889)*100 = 1.11113851919 %


Are you able to share the rate you were expecting - did you kick its ass?

To put it in some context, Natwest has ‘lost’ £770 million in just six months.


Where’s @Peter_G when you need him?


Have you got plus, or considering plus, will you continue to subscribe to it after the 3 months?

  • I already have plus, and will cancel after 3 months
  • I already have plus, and won’t cancel after 3 months
  • I don’t have plus, and will buy it
  • I don’t have plus, and will not buy it

0 voters

Yea, I am challenging your polling @peter_g come at me. :raising_hand_man:

I’ve cancelled already…


Just another 100 million to go to cover the red hole.


Am I gonna have to challenge someone else to a dance off?!