Annual Report 2020

They must have a lot of ties, both personal and professional with larger and/or established players

and never have been wildly enthused about :mondo:

That’s what marketing departments are for not journalists.

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Yeah, never happens that sort of thing

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This year was always going to be tough, Nat West Group announced a £1.3bn loss this morning, and were in profit this year because of COVID.

I’m still long on Monzo, the business has a lot going for it, and I hope will be sustainable in the next few years.

on a sale, if the bank is sold, I would bet the house it’s sold to a non UK org who wants into the UK, JP Morgan Chase have been eyeing up the UK for a while, and it would be easier to buy a Monzo/Starling and use that as the beach head in the UK.

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It’s a standing joke that the FT will take any opportunity to put the boot into Monzo. Whether it’s because they have interests in RBS or just because negative Monzo headlines generate click-through revenue, who could say? But journalistic integrity it is not.

Not heard that phrase before. It begs the question, is it possible to have a sharp mellow?

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Used up my free access but can guess what it says, may have to try VPN to website

True, but all he does is try to belittle Monzo and rave about Revolut.

There’s posting articles and then there’s trying to troll.

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There’s a lot of that about of late.

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Tucked away in the original piece from the FT is this little nugget about an even more expensive account coming later in the year. Monzo Plus+ ?

It has opened about 36,000 business accounts since opening in March, and relaunched its £5 a month “Monzo Plus” account earlier this month. Mr Anil said early sign-up numbers had been higher than forecast, and the company is expected to introduce a more expensive account with additional perks later this year.

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I thought that was common knowledge? Metal card etc.

Plus focuses on software features and Premium(?) will include those plus insurance etc?

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I’m a close follower and that wasn’t common knowledge in my mind.

This is going to be really hard for them to differentiate, price it too low and the £5 package will look too expensive and will lose mass take up, price it too high and they’ll end up price anchoring (for the nudge theory lovers) the lower end offering and people won’t see the value in anything more expensive.

And from a personal perspective, I’d prefer them to expand the £5pm offering to include the things you listed.

It was in one of their updates on why Plus was delayed and that they were going to strip out the premium tier and just launch with the lower one.

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Who wouldn’t prefer more features for the same price? I’d prefer Sky to expand their £25 offering to include sports and movies but that’s not how it works.

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I’m a day one Plus member and very happy. But it’s clear that many aren’t and you’d hope that the formerly very transparent Monzo was listening to its community.

you would have to know how many have taken up the offering and then asked to cancel I suppose

The problem is that this forum is no longer representative of Monzo’s user base. It would be inappropriate to tailor the product to the whims of the forum consensus or the comments on this or any other thread. That doesn’t mean they aren’t conducting user testing/focus groups with representative, randomly selected users/potential users. The forum was great in the early stages for creating a buzz, but now Monzo is a household name. It doesn’t serve any useful purpose to Monzo any more, and I’m fine with that - it still has a use for us to idly spectulate and while away our time but don’t kid yourself that anyone within Monzo considers the views here to be any more valuable than the next person.

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