Quite right, but unless I’m much mistaken, there’s many an instance where Monzo (and indeed Curve) investors have regarded their investment as some sort of goodly gesture, warranting kickbacks, special badges and all-sorts. In that sense confusing the point of the transaction.
It partly comes back to the value folk place on the relationship they’ve entered into with their brand-new bank. (Who, for instance, would imagine this notion being aimed at a high street bank?)
I guess the excitement largely emanates from being part of a forum, so it’s not surprising when the loyalty thing generates “loyalty-based” ideas.
I’ll bet you a pretty penny most monzo investors from that crowdfunding round don’t have enough of an equity in the company that it’s going to make them anything significant
If I remember right Crowdcube and Seedrs have fees associated with disposal of assets (i.e selling your shares) due to brokerage charges, which will see your effective price per share jump considerably depending on how many you bought
On top of that Monzo’s overvalued as are most things on Seedrs / Crowdcube etc and a possible correction could have shares worth less than some bought for
Now that’s just a paragraph of nonsense to support a weak argument. 25 times plus in value from round one, you could sell them within a month if you had a good enough reason.
Seedrs and Crowdcube has a lot of crap on them, Monzo has been valued and invested in by multiple VC firms as well as the crowd.
This must be the most ludicrous suggestion ever. Monzo as a bank & a business should qualify this and say they don’t want donations. BTW you can donate money to HMRC which they’ll take but that’s equally ludicrous.
phildawson
(Sorry, I will have to escalate this.)
72
I think most people would vote it closed as its gone on long enough, so you could say thats encouraging off-topic posts…
Sorry I used wrong word, what I meant was tipping not donating. The idea came from the fact that I do not pay for the services provided by Monzo, the tip would be £2 or £3 a month, the same amount I give to Mozilla or Wikimedia. I would only tip a business which is providing free services to others, so no free, quality service - no tip. Some referred NHS - it gets paid from taxes. I also thought about it because Monzo is a UK tech startup, and tech is so monopolised by US. I also believe in economy where poorer people all around the world have free access to as much digital services as possible. This is why I prefer and support Google much more than Apple - Google provides free tools for everyone including people in India, Africa, etc, enabling these people to have access to the same technology we have access to. Apple gives nothing for free. Sorry for going off topic a bit, just wanted to explain my thinking.
We have Monzo Plus now, it is £5, so I think I will go for it. I guess this topic might be closed as it sparks so much controversy plus there is Monzo Plus now. What about a lower tier of Monzo Plus for £3 a month ?
Monzo Plus has value to many. It’s fine that you don’t agree with that, but please stop going into every thread on the subject and presenting your opinion as solid fact.
As has been said in numerous threads recently, of all the people who might be in need of some financial help at the moment, the business interest of a group of corporate shareholders really shouldn’t be on the list.
I find the entire concept of donating to a profit making business, much less a bank, to be absolutely insane. I just can’t even enter the mindset that this is coming from.
Monzo is not a social enterprise or charity, it’s not even a B Corporation committed to being a ‘force for good’. Donating to Monzo is equivalent to donating to NatWest, who also lost money, or any other of the banks.
Looking at it in the reverse, do people think Monzo will donate to them when they hit financial difficulty or have been loyal to Monzo?
Technically they do in some situations. For example they gave people interest free overdrafts during the pandemic which I believe is still a thing now.
