Financial viability of Monzo - subscription?

Feedback & Ideas
1

I just read an article re: Monzo profitability, future, etc.

For my email client, I’m happily paying 4 euros per month to ProtonMail to provide secure emailing.

Similarly, I’d happily pay Monzo a bit each month to secure its future.

2

Yes. £5 would be reasonable.

3

Yep. Five quid is good value.

4

Lets say £4.95 or £4.99 rather than £5 :wink:

5

I’d rather not go down the route of paying for a bank account like North America. I don’t find the idea of paying a company to invest my money and keep all the profit (no interest)…fair I guess? :stuck_out_tongue:

I have no issue with Monzo making money, but the idea is for the account to be accessible and open to all - and making people pay a fee to use it doesn’t do that.

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6

Maybe just have a temporary subscription until Monzo becomes profitable.

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7

Why? The investors are paying for it. They’ll be rewarded in the future. Why should we pay a subscription?

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8

A bad idea. Account management fees is a thing of the past. At least it should be, for a member of the general public.

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9

I’d definitely remove my money if I had to pay a subscription. I don’t have to for my legacy bank so why would I for a “Bank of the future”. We aren’t getting interest on our balances so we definitely shouldn’t be charged

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10

I’m just worried that investors are getting jittery, and could pull the plug. So, just a bridging gap.

I would be mightily upset if Monzo failed in these early years. It’s just so brilliant.

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11

I know a lot of people have an emotional investment in Monzo (I am one of them,not being snarky) but if Monzo can’t thrive without folk chipping in money / can’t convince people to invest in them Monzo is not viable and shouldn’t exist.

It needs to be a real bank, not some sort of social project propped up by its fans.

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12

71million pounds in the latest fund raise worth sort of jittery ?

or

shall I risk another £100 investment in Monzo sort of jittery

or

post money valuation up from 87million to 280million in one step in less than a year isn’t enough to indicate the business is worth investing in sort of jittery?

entirely different levels of jittery

:grinning::grinning::grinning::grinning:

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13

I don’t think investors are getting jittery (and I have spoken to a few, crowdfunders and VC)

14

Good to hear!

Good conversation - thanks for all replies :blush:

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15

I would like some freemium model where you can optionally pay a sub for some extra services like travel insurance (And yes, higher foreign ATM limits!). I currently pay my bank 9.95 for travel, mobile and roadside cover, which is great value. If I switch to Monzo, I’ll need to shop for all three

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16

Exactly this - a business that’s able to raise £71m in funding isn’t going away in the short term. Long term, I’m pretty sure Monzo is planning to profit through managing our data (partnering with other companies etc) - Tom made a statement along those lines in the last annual report and accounts if I recall correctly

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17

I agree entirely - the term “Jittery” has presumably come about by the “slowness” of the uptake in the existing investors crowd fund round - investors who are taking a punt with their £10 - £1000 stakes - thats not to belittle their contributions :slight_smile: which in reality was “only” offered to existing crowd cube investors because Monzo thought it was “the right thing to do” Monzo didn’t “need” crowd cube investors - this £71m investment round would have been talked about and roughly concluded weeks, if not months ago by Monzo / Tom and the new investors, don’t get me wrong , its a small investment for these firms , big deals will come next time :slight_smile:

The firms now committing to millions of pounds of investment would have had to do due diligence for their shareholders before investing these sums of money , they will have had access to Monzo senior staff for hours on end together with Monzos systems and figures, they will have weighed up possibilities

we “small” investors get to look at the investment deck and the 1 year old accounts and decide if we want to risk our stake, some will invest further, some won’t - it should inspire a certain amount of confidence for crowd cube investors that so called experts are willing to stump up these amounts of dosh - £71,000,000

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18

I agree with most of what you wrote and I am definitely not jittery, but I completely disagree with this.

Investment is one of the few endeavours where greater expertise does not correlate with better results.

It’s a myth propagated by the professional investors as otherwise they wouldn’t be able to justify their excessive remunaration taken at our expense.

Not convinced that’s legal - it would amount to insider information if it wasn’t available to all other potential investors.

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19

yep experts can get it wrong, I agree :slight_smile: most of my posts were in response to Lymps post of “I’m just worried that investors are getting jittery”

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20

isn’t insider trading relevant to public companies ? :slight_smile: don’t know :slight_smile: lol and if they do have access to information I don’t have with my crowd cube investments Im very glad they have decided to stump up 71,000,000 :slight_smile: at a higher price than I paid :slight_smile:

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