I’m well over 30, married and living in the countryside. Greggs and train stuff are completely unappealing to us.
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I’m impressed with the amount of effort and thought thats gone behind this. It’s a shame that Monzo has chosen RAC again as their breakdown partner and its for that reason alone that I will be going for perks rather than max. If they had chosen AA, I would have been straight in there.
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It won’t be but the discounts provided on each journey are not funded by Trainline, it’s not comparable to the Greggs with the sole exception of the actual railcard itself.
Trainline wouldn’t offer a railcard if they had to fund the discounts themselves. Even 10% would be out of the question for Monzo. If you wanted to you could easily get £30 cost per journey if that were the case.
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Same, the onboarding process was really impressive. (I already contridcated myself earlier, and signed up) It doesn’t seem so at first from reading the pricing tables but clearly a lot of work and changes have happened here. It’s nice to see Equifax aswell on the credit tracker and some more data, is it possible we will also see Experian here in the future?
Honestly, I was getting annoyed with always worrying about scratching that metal card. And I can get better value from PriorityPass themselves, since it actually works out cheaper for me to pay the £229 annual fee for 10 visits instead of £24 each time I go
Trainline can take that hit as they earn commission on ticket sales (from memory 7%) plus they charge a booking fee on all purchases made prior to the day of travel.
Maybe I’m the only one here but this isn’t what is being asked for.
Again, Trainline aren’t funding the discount. Therefore no scenario where Monzo is would be comparable.
If Monzo gave you cashback per year up to £30 then sure, perhaps comparable.
It’s £23 to pay because you’ve already paid £7 membership fee. So it’s £30 in total. Which is the cost of the railcard itself.
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A railcard for everyone? What about us Northern Ireland customers? Again, we are always left out!
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No, but it could be achievable in some regard,
Monzo wouldn’t have to fund it, they don’t even fund the cashback offers we do get.
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Great work and great effort team. This sounds like a mammoth roll out. Also. Speaking to 45k people as part of the user research feedback loop is super impressive.
I’m sure this will captivate an audience / customer base that isn’t part of this forum or already invested in some way, whether as a user or an investor. Hopefully growing the business and improving your buying power.
Onwards and upwards! Look forward to seeing this evolving.
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A small cashback sure like I said, but you’re joking if you think that 30% discount or anywhere close to that is achievable. The sheer costs that would be even one customer would far far outweigh the cost they get from fees.
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As a Plus customer since its launch, these new tiers make the offering worse.
I’ve always used the airport lounges through Monzo. I don’t qualify for a railcard and I don’t have a car.
I feel like a lot of people will downgrade to the cheaper plans to have the basic banking features and move to others like Revolut for all the other perks. I will surely do it once they take away the Plus plan.
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Which they have said they won’t do for anyone on plus. Unless you cancel/change plan
same here
I already said the concept isn’t flawed, but it is going to be far far lower than the 30% or even 25% or even 10% suggested.
I made £14 from a 5% one time cashback offer. That’s two months fees gone in one transaction that’s not even that high as a percentage.
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That’s what I said
Here’s what I get for £7.99, with travel insurance covering pre existing medical conditions provided they are older than 12 months (or at least was the last time I checked):
Free virtual cards, single use cards, variety of cashback offers, free categories, open banking, the list goes on.
The value for money here outweighs that of monzo for sure.
We won’t get everything we want, for sure, but advertising the railcards in the way they have is fairly misleading.
Hoping the sign up flow explains that clearly before people buy into it and order a card, to then have to pay to back out because it wasn’t clear enough.
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The inevitably will in 12/24 months. That’s how it usually works.
Fair enough, scratch that part from my reply.
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Thanks for your feedback everyone, it’s really interesting to get your thoughts on the new products and an insight into how you’re weighing up whether they work for you or not.
I want to be really clear that our aim with these products is to build something relevant to broad segments of our customers around the UK. We’re building for a customer base that’s mostly outside of London, of all ages, and has lots of different needs and wants.
Over the last year we’ve spoken with more than 45,000 of our customers across the UK and considered a lot of different options for these new products, including the features we built and the partners we chose. We looked at the Plus and Premium data to see what people use and what they don’t, and we’ve looked extensively at our transaction data to see where our customers spend.
Our data suggests that a weekly pastry, treat or coffee will appeal to a lot of people (and the experience of claiming is quite delightful). Greggs has over 2,500 shops across the UK and is one of the merchants we know customers spend at most often (if we were building this for Londoners we really should have partnered with Pret!). There are different railcards available for anyone aged 18+. And our Max + family add-on extends all our partner insurance products to your family (your partner and dependent children) meaning they don’t have to be with you (the account holder) when travelling.
We can’t offer the perfect product for everyone, but we’re confident that these benefits are grounded in data that suggests they’ll appeal to as many of our customers as possible. It was also important to us to have Plus and Premium available for anyone who wants to keep them.
It’s also worth mentioning again that this is a beginning, not an end, and soon we will be back working on new features, partnerships, card options and more (including Joint Accounts!) so we’re keeping an eye on your suggestions.
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I was about to go with Monzo Max family but, for insurance purposes, they have to live at the same address as you. I have two Uni age kids so would have been great. Now it’s useless. I’m out.
Technically, yes, but why would someone in NI want one considering, if I understand correctly, National Rail railcards only work in GB?
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