Assuming that a trip to a Metro Bank branch will take around an hour, I’d still argue that this is competitive since an hour of your time is probably worth at least £5 - £10. Personally, I’d rather not have the hassle of having to visit a branch (& book an appointment, at least in some cases) either.
Jonas has mentioned that he’d like Monzo to implement this & we know that Monzo have been allocated enough virtual cards to enable it so hopefully this is only a temporary solution for Apple / Android Pay users, although obviously not all users will have access to that feature.
Thanks for asking. I agree with much that’s already been written. While I don’t think I’d need the card that urgently, it would be nice to be given the option.
For me the most ideal solution is that if I do lose my card and need a replacement:
the new card details are communicated to me so I can I can continue shopping online until the physical card arrives
Apple Pay or Android Pay continues to work (or I am re-provisioned with a new virtual card) - and to make my life easier, temporarily increase my Apple Pay transaction limit, so (if I’m in the UK at least) receiving my replacement card is actually much less urgent
Not sure whether that last bit is technically feasible, but would be interested to hear your thoughts
While this may be mathematically true to many people, it’s generally a nice walk in to the high street and you get treated pretty well at Metro with no appointments needed, it’s also a lunch/dinner opportunity! I know Monzo certainly won’t be touching the branch model but on the level of my wallet, that’s who they’re competing against. I personally believe Metro and Monzo pair well together with Metro handling cash and cheques in a way Monzo won’t.
I’m not too sure how a card without a sort code, account number or name would work, would it just be a temporary card? Would you be able to invest in a card printing machine which can print a new card with the name and bank details on it? In that case, then I think a couple of ££ is a fair amount to pay for a next day delivery service and maybe £10 for the same day service, which I think is a little pricey, however I know it would be expensive for Monzo and I think it’s good to have the option in case I really needed a card the same day, for example, if I was going abroad in the morning. However, how much of London would you be able to cover, I’m in Essex but within the M25, would that still be covered?
I think that the dual card system that myself and some others have mentioned may be the better route to go down and cheaper for Monzo? I think it would also be a little more convenient as I know as soon as I get home after losing my card I have a spare one, all ready to go.
Ah I see, I didn’t know it was so strict! I also just read that sort codes and account numbers won’t be on any of the cards. So I guess nameless cards isn’t so much of a bad thing after all. However that being said, I still like the idea of having a ‘backup’ or ‘hot spare’ card to prevent myself needed to request a card with expedited delivery
Following the comments about pricing, perhaps you could let us know whether Monzo will be charging a fee to simply cover the costs of posting the card, rather than to earn revenue (which is Revolut’s approach)?
I assume that the cost will vary but at least if Monzo is providing this service at cost, users can focus on what they’re prepared to pay, rather than what they should be paying.
I was just commenting on what you said… “perhaps you could let us know whether Monzo will be charging a fee to simply cover the costs of posting the card”… no other banks (not in the 30+ years that I’ve had a bank account) charge to post out the debit card.