That’s why I said above average rather than market leading rates
OakNorth is £1000 minimum but will be £500 with Monzo so it’s not the same product
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Monzo are more accessible. Oak North has a 1k limit. Monzo is reducing it down to £500.
Monzo are also taking a cut, it’s likely we’re getting similar to OakNorths headline rates minus the cut. These rates are great for people who want to ‘one place’ their money. You absolutely don’t have to use them, but I’d imagine there’s plenty here, me included, that can’t be bothered with the faff around for another .1 or .2 of a percent.
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Also worth noting that Marcus will be 1.35% for most people soon as the bonus rate will expire.
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Can you not reapply for the bonus?
You can reapply. Marcus says the bonus rate may well be lower.
That is a crazy statement! Do you think of your 3% mortgage as only being 1% because the bank’s profit is 2%???
Why should it matter what cut Monzo is taking? All I care about is what I get as that’s my rate. Does anyone else think differently? I’d actually love to know.
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I’m not really sure what I’ve said that has outraged you so much. Even in the context you’ve quoted it isn’t that crazy, unless I totally misunderstand what you’re trying to say?
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Sorry! May have got a bit carried away there 
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Well ISA’s launched with a 1.14% interest rate on april 3rd 2019, £500 min as expected. And it comes in pot format. I’ve written a blog post of isa’s and monzo on my blog titled better banking Because monzo is amazing.
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Let’s try and keep the discussion in the main ISA thread.