Decided to switch from Monzo

The app is light years ahead of the competition. Only Starling is as good if not better.

I was hoping for a packaged account to rival the Nationwide Flex Plus but this hasn’t materialised. The Nationwide app and online banking is awful but no bank comes close to thei benefits of the Flex Plus account.

The Monzo Plus account doesn’t look very promising based on what is on offer.


It’s not there yet, but it’s getting there. Plus has only just really launched, and there’s much more to come.

Maybe switch back in a few months :wink:

I have moved back to Nationwide for the Flexplus package and 3% in credit interest which effectively reduces the cost of travel insurance, breakdown cover and mobile insurance to about £7 per month. Unbeatable.

Monzo will be my spend account again now.

Don’t like the new app design, however, not enough to ditch Monzo completely.


agreed flex plus is unbeatable right now why I’m still with them if monzo offer something better or on par with nationwide I will move to monzo completely because of the alerts

I split the cost with my girlfriend so with the interest it’s literally a free packaged account.

It may be a while before Monzo can bring an offering that matches up to Nationwide’s Flex Plus. At this current moment in time, Nationwide have a bargaining position that Monzo don’t have yet. So I don’t blame you at all for choosing the product that works best for you.

If you still like the Monzo app and want to keep using it, you could use it as a spending account. Put the bills/direct debits/standing orders etc through Nationwide, and transfer a fixed sum to Monzo every month for discretionary spending.

As they grow, maybe Monzo will improve on the Plus offer and draw you back fully. But until then, you keep doing what’s right for you.


Or have Monzo as a main account and keep £2500 parked in Natonwide FlexPlus for the perks.


Never actually realised how good that Nationwide account is!

Don’t personally need everything it offers, but it isn’t bad. Hope Plus offers a similar amount of value for the price.

I’ve had a Nationwide Flexplus account for years now and there’s no way I’d ditch it to go full Monzo (and I’m not a Monzo customer) or full Starling (and I am a Starling customer) because quite simply, the account is far too good. It pays a cracking amount of monthly interest if you keep a balance of over £2.5k which of course offset’s the £13 monthly fee, effectively reducing the fee to about £7 a month. The travel insurance alone is worth its weight in gold to me. My Wife and I both have a car, so the breakdown insurance aspect is the silver bonus and our bronze bonus is the mobile phone cover (we both have iPhone XR’s). We also have a Nationwide Select credit card which earns us around £30 a year in cashback on spends. Not a lot granted, but it’s still 30 quid in our pocket.

The other reason we’re with Nationwide, is because we have our mortgage with them. We’re on their Base Mortgage Rate. To some, that might sound bad, but the BMR which is no longer available to new customers, promises to never be more than 2 percent above the BoE base rate for the entire period of the mortgage, so my mortgage rate is currently sat at 2.75 percent. I’ve heard the arguments about remortgaging, but by the time I’d taken arrangement fees into consideration, possibly losing among other things the perks of overpaying etc, I would possibly be worse off than I am. In any case I don’t owe much on my mortgage anyway.

The point for me is, whilst new fintech banks are absolutely great, (well I can only speak for Starling), in my opinion, a Building Society current account like Nationwide’s Flexplus is just a bit beyond their league at the moment. People keep harping on about Nationwide’s mobile App being crap, well I agree, whilst it isn’t in anyway like Starling or Monzo’s App’s, it’s not totally rubbish. The one ‘plus’ if you like concerning Nationwide’s App, is that it is actually compatible with my Apple Watch 4, meaning I can see my current balance at a glance, something I just can’t do with my Starling account balance.

I’m surprised people aren’t trying to sell the refer a friend scheme for Nationwide, £100 each for both the person referring and the new customer on completion of a successful CASS.


What do you believe that to be?

Monzo Plus isn’t going to match a long established account when it’s not even live because it’s still being worked on.


Perhaps this thread should be labelled “How great the Nationwide Flexplus Account is !”

That account is a front-runner - always has been.

I could understand the post if you were torn between going Full Monzo (whatever that means) and splitting your banking between the two. But as you’re not even a Monzo customer, forgive me, but I don’t see the point. :thinking:


Well that’s something that is at least making a point about :stuck_out_tongue_winking_eye:

I agree, it must irk Monzo investors when there’s negativity about Monzo products or a particular Monzo product doesn’t quite match what another bank offers, but at the end of the day folks are going to have an opinion, even if the product being offered isn’t perhaps at a finished stage. That might seem unfair, but there it is.

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I pretty much don’t think those folk are irked. Most probably acknowledge that Monzo is on a journey as a current account and that the Plus features are the latest leg of that journey.

If there’s a yearning to compare, it should be like for like. Except the only other candidate is Starling and the two banks have pretty much ceased to look anything like each other. There are threads on the differences, so I won’t labour it here.

I might compare Nationwide and Monzo in a couple of years, Plus-wise - but I doubt it.

Apples and oranges - now and probably always…:slightly_smiling_face:


Remember Monzo’s aim – oft repeated by the CEO – is not actually to be a bank.

It’s to be the financial hub for a billion people. Monzo saw that getting a banking licence (and therefore looking like a bank) was the way to achieve that aim.

Tom B has said he wouldn’t be surprised if Monzo wasn’t a bank in a decade’s time.


I’ve read this quite often and I’m sure they have a vision, I’m just not sure why becoming a bank and pushing banking features is the way to achieve it. Emma and Yolt seem to be doing quite well on their own

I’m sure I’m missing something here, but neither Emma nor Yolt are banks.

I’m pretty sure that was the point being made:

Emma and Yolt didn’t need to pretend to be a bank for a few years to start to become a ‘financial hub’, they just started down the route of being a financial hub on day one.

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Ah, ok the financial hub thing. Must admit I don’t yet see what that model would look like. If Emma is to be regarded as in that category, I kinda only see the account aggregation element as of any use currently.

I’d like to understand more about what might constitute a financial hub.

Emma might not be the best idea, but there’s Yolt. They now allow you to move money between your accounts as well as offer partnerships with insurance companies, etc. They’re pretty much a financial hub at this point, what Monzo are aspiring to.

I see. I’m better informed. Thanks @ndrw

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