I think the Monzo forums are more of a community hub then the app is a banking hub. I really like the fact that other apps can do Q&A’s, talk to users and allay fears without reprimand. Monzo have got this 100% correct.
When my CVV number was debossed on the back of my card, it seems to have transferred through to the front right next to the contactless icon, I doubt this is a problem, but curious to see if anyone else is experiencing this same quirk?
Hi @UncleC and everyone! Thanks for posting so many great questions. This week I did not manage to answer everything as swiftly as I would like, sorry!
We’ve been onboarding hundreds (and hundreds) of new customers so my volume of incoming questions and issues has quadrupled! The bond questions were further complicated by the fact that certain information, although shared with individual investors during the bond process, does not get published ‘publicly’ until the bond is listed. It made it difficult to answer questions.
The key question you’ve asked several times I believe are the details of who is the Trustee and how are they independent of dozens. The trustee and operator of the secured account is U.S. Bank Global Corporate Trust Services.
I trust that now that there is at least 1 bond already listed that has all the terms and the base admission document published, you will be able to see all the details to give you confidence in the dozens Trust Bond product.
Hopefully this is what you needed?
Hi @Codf & @r.a.thomas we would love to be able to offer our customers a straightforward interest on savings, but as we are not licensed to do this, we cannot (as @UncleC pointed out) . However, this is something that we are working towards by applying for a banking licence but this is something that we can do for the interim period. It may be complex at first, and has certainly taken us a lot of work, but the value of it to regular savers will hopefully be worth it all! (there is a mention of this in our next upcoming #AskAC video where @Codf gets a mention)
That is potentially true (though as it is a bidding process, there is always the chance that larger sums will still be available depending on the demand at the time).
However, as we’ve explained, the interest for this bond is funded by dozens in order to help more people to start saving and to use our app to do this. If you already have large sums then by definition you don’t need this specific help. We will, however, be coming up with more products in Save and Invest areas that will be better suited to savers like you, but we can’t launch everything at once as this would be even more confusing.