Handling the Prepaid > Debit Card Transition

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 :thinking: :grinning:)


Maybe its like beetlejuice, if you say his name three times then he appears.

It’s a shame that the cards can’t be re-used and a waste of that much money and plastic.

Maybe like game of thrones with the iron throne we could build him a throne out of all the old prepaid cards :smiley:

1 Like

I’ve moved this to a new post because I’d be quite interested to hear everyone else’s suggestions on how this transition could work.

One of the team mentioned this challenge to me a while ago & I didn’t have any particularly bright ideas but maybe someone here can come up with something..

Rarther’s suggestion :point_down: might be a little bit confusing for people who are just about to sign up.

But maybe if this was promoted, rather just sprung upon people as they’re signing up, this sort of thing could work?

The aim is still to turn off the prepaid card by the end of the year, which involves migrating our existing 400,000 users, along with any new prepaid signups we get in the meantime.

To avoid unnecessary waste of money and plastic, we will likely stop new prepaid registrations in the next 4-6 weeks and put any new signups on a “waiting list” for the current account.

We obviously want to allow existing users the opportunity to get a current account first, but once all existing prepaid users have at least been given the option to get a current account, we’ll start letting brand new customers sign up directly for the current account. I don’t know exactly when that will be. Perhaps November?

We’ll publish an official blog post on the subject when we’ve figured out exact timings. So don’t treat this as gospel, just my unfiltered thoughts on the subject :wink:


OMG. It does work!! :joy::joy:


I wonder how many other banking CEOs reply to forum posts at nearly 10pm, I suspect very few :slight_smile:

Good for monzo, definitely a new type of bank with a great team


It’s great to hear there’s a plan and you are considering the environment. I’m sure turning the supply tap off for a month or two will just build up even more demand and 2018 will go off with a bang!

Maybe not forums or banking but I know Mark Hopwood the CEO of GWR replies to his E-Mails at this time of night.

Yes off topic-ish I know

A post was merged into an existing topic: Transferring Transaction Data & Savings Rates - Current Accounts

To avoid unnecessary waste of money and plastic, we will likely stop new prepaid registrations in the next 4-6 weeks and put any new signups on a “waiting list” for the current account.

This throws up the question of Golden Tickets, would they still be applicable in this scenario?

Just convinced my 3 brothers to sign up and I’ve thrown them all GTs.

How do I email him. Got quite a long list of things I’d like to get off my chest! :rage:

I’m waiting until Monzo has the CASS in place before I apply for a current account, maybe Monzo could do an in app question asking whether people would like to switch immediately or CASS is up and running (or whether they plan to use Monzo as their main or backup account).

Unless the plan is to have the CASS ready for day one in which case this is redundant.

I wouldn’t worry about that, if they already signed up, they’ll get the prepaid card, and most likely this week or early next week. By the way, excellent job, three birds with one…, you know what I mean! :sweat_smile:

1 Like

Continued here Upgrade (Migration) Updates