I’ve been a memeber of Monzo since the alpha days, and came across this review of Monzo’s ethics. I want to provide this link so Monzo has the opportunity to improve this record.
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Would be interested in how Monzo compared to others. With the exception of Triodos, maybe the Coop, I’m not sure any bank in the UK or indeed World is truly that ethical.
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They didn’t need to you to post it for them to know all about it.
There are other banks if all you care about is ethics. Not many of them though!
Monzo is by no measure bad. However there is always room for improvement and chase the leader in this arena (Triodos). For example, the report says there’s no declaration about worker rights, which is be surprised if Monzo was doing anything bad. So a declaration would be an easy way to improve the report.
I don’t want other banks, or I’d move. A friend decided to go with a different bank because of this report though.
“We employ Orwellian tactics to monitor and discipline our employees” is hardly the ethics statement you want.
Triodos charges a monthly account fee, and doesn’t really offer competitive products. There’s a trade off, and it’s not a business model many will want to follow because it’s not the route to fast growth and big bucks.
Quite a few instances of “could be” and “maybe” in that report. Also, just because Ethical Consumer think a salary is excessive doesn’t mean it actually is, compared with similar businesses.
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It’s worth noting with Triodos that they do have links to the Anthroposophical movement and Rudolf Steiner. This is essentially what they were founded on which could be considered pseudo science.
I’m more bothered about how transparent they are, but some people find this controversial (including some of the companies they invest in)
No, it has to be evidence-based for me, otherwise it’s just another person’s or organisation’s opinion.
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