A while ago I thought it would be intuitive for banks to round up transactions and either save or invest the difference. So every time I pay for a £2.60 coffee, I save or invest 40p.
A lot of apps are doing this now - Revolut; Moneybox, etc., - but what nobody is doing is using this idea to revolutionise the way we give to charity.
I think this would be particularly effective for times of natural disaster. On occasions of natural disasters or humanitarian crises, like a hurricane or earthquake (take the recent Hurricane Irma), Monzo would allow its users to temporarily activate the disaster relief feature, which rounds up their spending to the nearest £1, and donates this philanthropically to the disaster relief effort. This solves a huge problem. People want to give to charity; they want to give to disaster relief. But people are also lazy, and if they’re on lower middle class incomes, would rather not see the effects of their charity on their balances. Such a feature would revolutionise disaster relief, by automating it, making it effortless, and unnoticeable on the bottom line.
Alternatively, instead of a temporary disaster relief feature, it could be a more permanent charity-donation feature; something that would appeal to users who are lifelong supporters of certain charities for personal reasons.
Thoughts? - Yannis