Overall app works well.
My only interaction with customer services was great.
Flawless sign up and conversion to current account.
I love the notifications and live balance.
Few things that niggle me
It urgently needs an option for fingerprint or pin to open the app. I’m not happy if my phone is unlocked you can go straight in.
Direct debits appear as a notification at the bottom of spending, this just doesn’t feel right. The payments tab would make much more sense?
My main love of the prepay - '‘ring fenced’ spends is gone. I loved egg money while it existed for the same reasons. No current account card in my wallet, just what I can spend.
The app needs a way of partitioning the balance into a pot wages go in and direct debits come out and a card linked to a sperate spending pot.
This was Monzos killer feature for people’s budgeting IMHO and instead of milking overdrafts, make money from cross selling and switching based on spending data? A very different relationship with customers.
I almost needs dual accounts if I am to close my current account and move over fully.
Hopefully pots will enable this if you can ring fence salary and bills away.
You can still do this though if you want? Either by using pots (which admittedly is a bit basic at the moment) or by transferring disposable income into your Monzo account from another bank.
No pots on Android? Will be happy to give them a go when they arrive.
Second option is exactly what I am doing.
But for Monzo as a company, if they went people to switch to this being a main current account they need to crack this or I expect will loose a lot of the momentum built in the prepay cards
What are you worried about though? What’s the worst that could happen if an attacker gets access to your app? I bet your phone contains way more sensitive information (emails, texts, etc) than how much you paid for your last pizza.
If your phone is unlocked, you have far more serious concerns than your Monzo app. Monzo is doing this right, other banking apps are just nuts and a usability nightmare for no real benefit, only security theatre.
I agree totally. The Direct Debit interface is one of the weaker areas.
Well, two options - one, use pots once released. Two, treat it as a second account. Nothing really changed here by not being prepay. A current account is like a prepaid card, with better protections for you and more features.
Mostly agreed, but at least we have Android Pay. The Apple folks have more app features, but no Apple Pay. We’re in a better place overall
Well clearly they could pay my balance into their account (or even quietly set up a repeated standing order of a small amount), but I’d still rather take my chances. Would be interesting to know if Monzo would underwrite those situations, on condition of having decent security on the device itself.
I agree nothing has really changed on terms of how I can use it. But for Monzo the product has, I expect they want to be peoples main current account, not a secondary top up spending account. My point was if they went people to make the switch it kind of needs this USP if you get where I am coming from? Pots done well may ace this
On the security front, I respect if people are happy with phone security and want to turn it off. But I think it needs the option and it should be on by default. Maybe a check to see if a pin or fingerprint unlock is set, I know plenty of people with just a swipe.
For me it’s not attackers as such, it’s my daughter using my phone to watch YouTube or play a game or when I have workplace unlock at my desk etc. I want it for the same reasons my Outlook app has finger print unlock mandatory from my work policy.
Again if this is my current account it’s not how much I spent on Pizza, it’s peoles salary / comission etc.
I absolutely don’t want to emulate a horrible logon where I need my internet banking number or username and password or some card reader other guff.
The nationwide app does this well for me now, no details just fingerprint or pin to open, very little barrier on the user journey.
app? I bet your phone contains way more sensitive information (emails, texts, etc) than how much you paid for your last pizza.
