My idea of a rip of is unexpected charges.
I personally love the speed of feature releases and the iterative process.
There seems to be something new or tweaked and improved every week.
Even it if doesn’t fit my use case at first, or land particularly well, the exciting bit is the constant change and the potential it all hints at as things progress
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Try as I might, I couldn’t sell Monzo to my boyfriend until Coin Jar launched. Now he’s gone full Monzo. I know a couple of other banks have something similar to Coin Jar perhaps but not our legacy one or any other banks we would have considered.
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Morning…to be honest , over the years I’ve lost count. One biggy was when NatWest shut my account when I was in holiday Tunisia. I was stranded with my family with no access to funds. They thought a fraud taken place … Lucky bank of dad helped me. Really , really bad bank.
I was at a conference a while back where David Birch a consultant on payments was explaining PSD. He said that the high street Banks are not bothered about Monzo and Starling etc. It’s what Amazon et al could do via PSD that terrifies them.
If you have an interest in those things he is got a few clips on You Tube. He is very funny about something that is a dry subject.
I interpret it to also mean unreasonable or overpriced
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I used to try and sell Monzo on the features but found that a somewhat hit and miss. Nowadays I just say - this is what a bank in the 21 century should feel like, and after you’ve used it for 1-2 days your old bank will very quickly start to feel like a dinosaur
A lot of people seem to have one particular feature that attracts them especially, and its kind of random - for me it is being able to see my transaction history in realtime. I still cannot get over how Santander can’t tell me until 48 hours later where my money has gone…in 2018!
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Someone in a company I worked for once gave a presentation and said that all the big banks were waiting for a big shark to come and steal their customer base but in reality it’s going to be all the fish nibbling round the edges. That’s stuck with me.
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Santander are a right pain, RBS aren’t any better either… It’s quite worrying in a way that they still operate like this because fraud could take place and you wouldn’t be in a position to flag a fraudulent transaction because you wouldnt know the details until they tell you 2 days later!
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Tell me about it! My ebay account got hacked a couple of months ago and a fraudulent transaction for £38 was made, but because it was on Monzo I got a notification overnight and was able to fix it first thing in the morning. If that was Santander I would have totally missed it until too late
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