50k Plus Accounts

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Interesting that Monzo are pleased with this number. Maybe I’m expecting too much, but it seems like a poor take up? The fact that’s it beaten internal targets is worrying. I mean this is still essentially bringing in zero profit.

It would be good to have some communication to investors from the new CEO about plans etc. Perhaps we should have a new threat discussing Monzo’s route to profitability - because it isn’t Plus (at the minute anyway).

Edit: internal targets part of this comment is probably unfair


You’re not going to see profit in 1 month, that’s unrealistic.

Not everyone will jump onto this straight away, so as long as update is gradual they’ll pay off their investment (time building etc) and then it will be profitable. The second tier that is currently on hold will hopefully accelerate this too.

I was thinking they would be lucky getting 25,000 to give a fiver each month for basically for the privilege of having a fancier card sit in their wallet.

Will be interesting how many in 3 months, but we’ll never know :man_shrugging:


It’s not meant to bring profit yet. It’s meant to improve retention, increase average balance held, and usage. As long as those metrics work, it will be viewed positive by future funding rounds.

It’s likely plus itself will not make profit, but extra cash might unlock offering more overdrafts & loans that might make money (because more of regulatory required capital is now available).


Of course you have.

Going to back up this claim yet?

The products to which I was referring were the open banking integrations and custom categories - because they seem to have taken a fair bit of work and dev time.

And 89.9% of customers can’t use these tools because they’re behind a paywall, and they won’t pay up because the Plus bundle means paying for nonsense stuff like a premium style card, a free cash withdrawal, special offers, etc.

I think it’s madness to put this much dev work in and then bundle it with shite that means the overwhelming majority of customers will never see the benefit of the work.

I presume Plus+ will have this, plus the extras, which I guess is the big one for revenue.

So all this work wasn’t just for Plus.

Odd that you tagged me into this topic for a throwaway comment I made a week ago, but whatevs.

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sorry I forgot to add the :wink: I was only tagging that it might be of interest nothing more to it :slightly_smiling_face:. I thought it was only yesterday and then boom a post about it like they were lurking, blimey my brains fried.

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All that one person wasting their time on a forum posting opinions that attack 50,000 people :man_facepalming:


I see people are flagging posts again to score points. We’re better than that…

Monzo grew in normal times through meeting, sharing, showing and advocating. Let’s wait until normal life resumes and people can advocate for it to spread the word. I think it’s great value and I’m sure lots of other people will too,

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I’m not talking about profit for month one. I’m talking about the whole concept of Plus being profitable.

I’m not talking about profit for one month. I’m talking about the entire concept of it making a profit for Monzo. It won’t even be making them a significant profit after 12 months at this rate.

I don’t understand why everyone is getting angry, I personally have Monzo plus because I feel the custom categories are a big yes for me but I would understand why other people might not find that appealing. Overall it seems Monzo is hitting their targets(whatever they are), so as long as they keep adding more features and/or improving existing ones, everyone will eventually benefit one way or another.

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Regardless of other members replies being pro or against Plus, I don’t think discussion forums are for you if you just want to shut down conversation and tell people they don’t know anything. I really used to respect your posts until your reply above. I totally get wanting to defend Monzo of course, and lots of us do, but something about your post doesn’t quite sit right :frowning: If someone is just repeating the same thing, just ignore or block them. Don’t engage.


I’m all for discussion - but when there’s actually something you can use to support your opinions.

Generic, sweeping statements which tar anybody, any group or any company aren’t something I like. Especially when they’re repeated over and over, in any thread they can find.

I’m more than happy to engage with anybody and I appreciate all the feedback we get here (no matter how hard it is to hear sometimes) - but sometimes people are just here to criticise for the sake of it.


the whole concept of plus might not be profitable. and that’s ok. As long as synergies do, eventually.

Also if it is obviously profitable, it would not appear as good value for money and instead be seen as a rip-off.

  • How much is actually profit?
  • Is this organic growth or have you been actively promoting it?
  • What is the business plan?
  • What is the bigger picture?


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There’s a fair few of them that post here daily with nothing positive to say at all.

It’s really weird.