A savings account just for travel 🛫


(Oliver Mitchell) #1

Hey guys

I’m the founder of Moneycado, a savings account just for travel. I want to make saving for trips more fun by partnering with travel operators to offer personalised rewards as users reach savings milestones.

Our first partner is StudentUniverse who is giving away £50 tour vouchers to users who sign up to our waitlist. I’d love to chat to any interested users about how they save for holidays at the moment, and to get feedback on what we’re building :slight_smile:

I also blog each week about what I’m learning at medium.com/moneycado


#3

Tell us about what this app is all about? Why should I save with you, rather than with Highstreet Bank A which pays me interest? And what does it mean to be “for travel”?

(I’m sure I could find out by searching your site, but life is short, and a 2 minute glance left me none-the-wiser…)


(Ben Talbot) #4

I wouldn’t be so sure about that - the website is suuper bare


(Oliver Mitchell) #5

We work with travel operators who provide rewards as people work towards their savings goals. E.g. If you’re headed to Portugal and you’ve identified as an active traveller, then we’d unlock a discount for surf lessons, or a cycling tour.

For short-term savings (i.e. less than a year), the interest is never that much, and this is a fun way to incentivise saving!


(Oliver Mitchell) #6

You’re not wrong Ben…I’d love to know what questions are front of mind so I can include info on the site?


(Andre Borie) #7

What’s the business model of this? We all know there is no such thing as a free lunch.


(Oliver Mitchell) #8

It’s a split commission with the travel operators. E.g. if we unlocked ‘£50 off surfing lessons’ and you purchased the reward, Moneycado makes 10% of the purchase price.

Basically we don’t make money unless we find things which make the trip you’re saving for even better.