A Current Account Rollout Update


(Beatrice Borbon) #1

In light of this week’s issues with the prepaid card, @tom has shared an apology, and an update about our plans to bring current accounts to everyone, over on the blog.

As many of you will know, the outages on the prepaid card are due to issues with our third party card processor. For the current account, our brilliant engineers have built our own in-house processor from scratch, meaning we’ll be able to own the whole experience and avoid these issues going forward. We believe this will help us deliver a much more reliable service going forward, so we’re working even harder to make sure we can bring current accounts to everyone.


Monzo vs Starling - heart versus head
(Dawid) #2

If you stage a rollout I would have expected that the features will be similar. If I’m using prepaid with magstripe and then I move to current account that still doesn’t support it - I will be, at least partially, locked out of my money. Can you ensure the features will be the same before the prepaid shutdown?


(Tristan Thomas) #3

Totally agree. I believe magstripe support is in there :slight_smile:


(Marcus Nailor) #4

The article says:

We’ll test this with a few hundred Android customers at first so we can be sure everything is working.

Whereas the forums say:

I can only assume that first few hundred has already happened and the article was written prior to Simon’s update? :wink: Just checking the chain of events :innocent:

Can’t wait to move back to the ‘normal’ Monzo app icon haha :slight_smile:


(Jolin) #5

The blog post says that last round’s investors will be the first invited to upgrade to the current account (as they should be), but doesn’t mention those who pledged and weren’t successful. Previously, those who had pledged were also promised priority access to the current account (click the :arrow_down_small:):

I’m not concerned for myself (as I’m on the CA preview), but just wonder if this has changed or been forgotten, as it wasn’t mentioned in Tom’s post?


(Max Walker) #6

What I’d be interested to know is whether or not the recent repeated issues (lets not forget that it isn’t just this week) will accelerate the withdrawal of the prepaid product? i.e will the overlap period after offering transition to everyone be decreased.

Tbh if I were monzo, starling or revolut I’d seriously be questioning the competence of this external card processor, thankfully over here at monzo we wont need it for much longer.


(Scott Bryan) #7

Any word on whether the Current Account Switching Service will be available at launch?

Also, as a current account user already, will I be sent another new card straightaway, and if I am away, will my existing one continue to work until I get back?

Very excited about all this.


(Max Walker) #8

I believe that there will be no need to exchange your current current account card, I think simon or one of the other monzonauts posted something about this a little while back :slight_smile:

At least I hope not, otherwise I’ll need one too


(Hugh) #9

This is correct :smiley:

/20chars/


(Rumee Ahmed) #10

I’ve heard previously that current CA debit card holders will have to change our cards once we’re off the preview. However, the blog post says current debit card will work fine.

Just wanna double check.


(Rumee Ahmed) #11

nevermind …


(Adam Spiers) #15

Exactly. This is not the only occasion on which unsuccessful pledgers were promised priority access; it was also stated in this blog post:

If you pre-registered to invest in the last round but weren’t successful, as promised you will also get early access to the current account. That will mean you are in the first group of people to receive a card and current account once we start rolling out en-masse!

But as someone who fell into this group, I have not heard any further details on this and consequently feel somewhat neglected by recent communications around the roll-out of the current account. Maybe I’m missing something, but I think it would be good to get more clarity on this.


#16

Can’t wait for the upgrade! :kissing:


(Tony Hoyle) #18

Patiently waiting for the thursday(ish) news!

https://twitter.com/trstnthms/status/922521606794203138

OK, not very patiently…


#19

Feeling the same. Liked the idea of me pledging money, but didn’t get chosen, so now forgotten.

Maybe we’ll get included in the first batch after the investors? I hope so.


(Tristan Thomas) #20

Nope, not forgotten! We didn’t put it in the blog post (oversight, sorry) but you’ll be next up after investors.


#21

That’s good news, thanks.


(Brandon Billingham) #22

Quick question. Now the Current Account is rolling out to all current users, is it still considered a preview? If not preview, is it still considered a beta?


#23

I’m wondering if I’ve somehow slipped through the cracks in terms of sign up as an investor? I was never invited to the current account preview even after signing up at the beginning, but my girlfriend did, who rarely uses it and only for abroad - As there’s already 20,000 people on it, I thought I would have one by now.


(MikeF) #24

There was no investor priority to the preview so you’ve missed nothing there. If you’re on iOS then the app hasn’t hit the App Store yet and you can’t convert accounts before that happens.

The Android app may have been out today in which case invitations are starting to flow now.