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Monzo Chat News & Updates
1745

sorry…more than likly this has been asked before

So i am on mozo cashback on my personnal account…

will i earn ( have to do anything ) to get it on my joint account ?

thanks

1746

Cashback is “per person”, so as long as you use YOUR joint account card, you will earn cashback. The other person on the joint account won’t earn cashback by using any of their cards (unless they are also in the cashback pilot).

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1747

They do if they’ve also been enrolled in the cashback pilot. We both are, and earn independent cashback using the Joint account.

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1748

I thought it was implied, but i’ve updated my post to make it clearer. :slight_smile:

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1749

I don’t think they are rolling out anymore CASHBACK sign ups as there hasn’t been any for a while now. Keep looking but nothing :sob: just hope they roll it out soon to everyone

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1750

I think cashback is getting ready for the mainstream, missing cashback report form now live in the latest Android beta​:tada::tada::tada:

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1751

Hey everyone :wave:, I wanted to slide into this post and (re) introduce myself! I’m Veronique, most people call me V and I’m Head of Rewards here at Monzo. I joined about 6 months ago. Some of you may have seen me in other threads in my previous life as one of the Flux co-founders. It’s been full circle for me and it’s been really lovely to go from working with the amazing people here, as an external partner, to now being one of the team.

I’m really grateful for all the engagement and feedback so far. It’s really helped us think through changes and continually improve, leading up to today’s update! We are getting ready to introduce our first aggregator partner, as part of plans to scale. :heavy_heart_exclamation:

That aggregator is called Reward. (Aggregators, for those who don’t know, are platforms that find discounts and deals directly from merchants, so we can offer them to you.)

As part of that prep, if you’re using cashback, you’ll see an email from us today explaining updates we’ve made to our cashback Ts&Cs. We know from the pilot that understanding how we share data with partners is very important to you – so we wanted to come on and explain the changes. Here’s a summary:

  • What hasn’t changed:

    • We ‘de-identify’ your info so our partners won’t learn your name and full address, or any personally identifiable data
    • We may share your age bracket
    • We’ll share around a year’s worth of your Monzo spending history (physical or virtual cards) and your ongoing data so our partners can tailor offers to you
    • Our partners won’t use your info for their marketing or share it with third parties who aren’t involved in cashback
    • You can opt out at any time and we’ll stop sharing your info straight away

  • What’s new:

    • We will share the first half of your postcode to deliver offers that aren’t in a different city
    • If a merchant needs to audit or check which of their transactions from Monzo qualify for cashback, we’ll share the last 4 digits of your card number and Monzo’s bank identification number (which is the same for all Monzo customers).
    • We’ll also be introducing new aggregators over the next months and as a result we need to change how we describe data deletion when you opt out. If you opt out we will stop sharing your data immediately. But similar to other cashback programmes, partners will have the right to retain data to meet their auditing requirements. Your data still can’t be used for marketing or shared with third parties who aren’t involved in cashback

Most importantly, we strongly believe in giving you control and choice. That’s why we’ve deliberately built cashback differently to other programmes, by allowing you to opt in and opt out. We felt like this was the best way to help merchants generate better offers, while also giving you choice.

In addition to the above, there’s a few other changes that are useful to know:

  • Cashback will arrive typically within 3-4 days, but can take up to 35 days in some cases (although you’ll always be notified right away of cashback). A very small number of you are in a version where cashback arrives instantly (including those who signed up using the form we posted in the community). We won’t be changing this for you, but we’ll let you know in the future if we do.
  • If you’re missing cashback, you’ll have 60 days to tell us from when you made the purchase. (Separately, we just launched a new flow yesterday that makes it easy for you to do this straight from the app – some of you have caught it already :slightly_smiling_face:)
  • If you get a refund where you’ve earned cashback, we’ll withdraw it from your cashback, personal current account or arranged overdraft (in that order).
  • We’re making it clearer that cashback earned on your card in a joint account will go into your own cashback.

Please let us know if you have any feedback, and we’re looking forward to making this more broadly available! :tada:

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1752

Hey, welcome back and thank you for the update.

I hate that I’m coming at this with my Negative Nancy hat on, but I feel this is a regressive step. Not too concerned with the data sharing but by bringing in an aggregator, I have to question what the value of cash back will be, what will I be able to get that I can’t get elsewhere?

The time it takes for cash back to track will also be very similar to other providers, like Airtime Rewards, which works with any cards from any bank and not just Monzo.

So cash back on Monzo is losing whatever morsel of appeal it had. I appreciate the current, self-funded offers were unsustainable but this is a big no from me.

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1753

Instant cashback is/was one of the best things about cashback in Monzo …

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1754

Nice marketing spiel, but I don’t know if the part of that statement referring to your competitors is actually true. Who actually isn’t opt in? I’ve never heard of one that isn’t.

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1755

Will there be another chance to sign-up for the unlucky ones? Or is it done? :slight_smile:

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1756

Welcome back! And thanks for the update, it seems a repeating question on this page, but is there any news on opening sign ups again? :blush:

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1757
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1758

Hopefully remains instant for those in the current trial.

Does seem a bit of a set back compared to the current offering. What happened?

Was it too expensive for monzo to play this way? Did merchants drop out and discontinue their cashback scheme? Was it not reaching their anticipated outcomes?

Or was this always the path and we got spoilt because monzo were paying it not the merchants?

I could also have just misunderstood from the start, so excuse me if so.

1759

We’ll never say never to instant withdrawals but we saw a lot of data that supported the instant notification (which isn’t going anywhere) but not instant withdrawal (lots and lots of customers not touching the money for several days) so determined this was a good approach based on the data. Tell me more what was most valued to you about the instant withdrawal?

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1760

Any chance of putting something similar back into Monzo? :wink:

1761

Hey thank you! Not quite negative nancy maybe pragmatic polly :stuck_out_tongue_closed_eyes: its a really fair point and its going to be our biggest challenge - ensuring we have differentiated offers from the market. We have a lot of smart strategies in play (many I can’t take credit for!) that you’ll see come to life all built to ensure we stay differentiated. I think whilst these strategies ramp up it’s very possible we’ll have a few weeks where we are the same but I have full confidence in the planning we’ve done to ensure this isn’t true for the long term and our offers quality is consistently appealing and top notch

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1762

Any news on when this is going main stream?

1763

I’ve made a fair few quid out of this trial so I’m not gonna grumble but it seems you’ve come to the conclusion after crunching the numbers that Monzo Cashback should be just like every other cashback offering.

Groundbreaking.

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1764

Our lips are sealed, sorry but have to give the generic stay tuned answer. Don’t want to overpromise any timelines as we’re beavering away in background but do stay tuned :grinning:

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