According to my growth model (which is nowhere near as informative or beautiful as Alex’s so is not available to see!) over 300.000 new users are going to get a beta card between October and December and @tom said he hopes to move everyone over to current accounts by the end of the year.
Not sure if anyone has raised this yet but doesn’t that mean they are going to send 300,000 people a beta card and then a current account card in a very, very short space of time, causing a big waste of money and plastic? At a cost of a few quid each (assumption) that would be a £1million cost to Monzo.
Maybe they need to fish out a couple of hundred thousand existing prepaid users who would be willing to wait until the end for a CA (perhaps in return for some right to invest in future rounds or limited edition card or something) and issue new users with a current account so they don’t have to spend £1million on unnecessary plastic.
Would be interested to hear Tom’s thoughts on what they are going to do about this end of year crunch (if just mentioning him still summons him like a genie )