When Hugo commented on this, he said that Monzo would make an effort to educate users, rather than build features just for the placebo affect. After all, if the non-placebo approach is more secure &/or convenient & you can build trust in other ways, isn’t that the better option?
I can’t help feeling that there must be a more simple & less time consuming way to address these concerns than building useless features, for the sake of addressing a perceived risk, that isn’t really there.