Monzo has gone further with £2000 worth to cover things like an iPhone that curve don’t go far enough on and not just gone with axa that curve have
Something that would at least match a competitors offering.
And the current one…
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It’s not a product for me (no Joint Account yet), but it’s not a bad offering! It looks pretty competitive at first glance, and the metal card will be a big draw for some.
I think the perspective on price probably depends on if you thought the extra tech features in plus were worth something like £5 to being with.
If you do, this is £10 extra for quite a bit more than with plus. If you don’t, then you probably only value the insurance stuff and theres better deals out there on that.
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Was just wondering if this card would cause damage overtime to a wallet, I had a metal bottle opener in my wallet which admittedly was a bit thicker than the card but it tore my wallet to shreds because of the abrasive edges.
Plenty of other posts detailing why its not much of a competitive product, I don’t need to repeat them.
Also, we know Monzo no longer listen to feedback on here.
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Some people won’t really get it for insurance only.
Needs to be appealing for everyday use.
Having cashback with large retailers would be more appealing and also encourage Monzo users to use the card more.
Monzo has a much larger customer base so it can easily attract large retailers like Sainsburys, Tesco, Amazon etc to partner up with.
Also, cashback on utilities such as electricity and gas would be amazing.
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It’s interesting that someone has taken time to engage with you and explain how you can bring about something you appear passionate about, but your only response is to say “look at what other people have said” and be terse.
This doesn’t seem like a good way to go, but you do you. I’m sure you’ll get the result you deserve.
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Not looking for a result, just sharing an opinion.
As a investor, I’m happy they are looking to way to make money.
As a customer, it’s not a great offering compared to Plus (Which I’m a subscriber of), nor a competitors premium product.
I think lots are in the same boat.
I see great value in this considering I pay £12 a month for phone insurance anyway. Having the option of taking my iPhone to an apple store is something I don’t have right now, so it’s even better!
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Where to start…
- Launching a product heavily biased towards travel perks in the middle of a global pandemic is an…interesting strategy.
- Additional interest doesn’t really do much other than very slightly offset the cost of the account, same as with Plus.
- Higher cash deposit allowance also seems pointless as anyone needing to do that regularly would likely choose a high street bank anyway.
As things stand at the moment, the only real things of value here are the card itself (depending on what value you put on vanity) and arguably the phone insurance.
To me, there’s no way this adds up to £15/mo, especially not in these uncertain times.
It’s also disappointing that Monzo have chosen to put their focus on delivering an even more expensive product rather than focus on giving the existing Plus account the attention it desparately needs.
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Your sarcastic post wasn’t much more helpful either really, was it?
Customer sentiment is itelf quite a useful feedback measure, actually from social media, message boards etc it’s probably the most helpful feedback measure, so nothing wrong with people jumping on the thread just to express their positive/negative sentiment imo.
What is counter productive is launching in with upvoteable but sarcastic comments that can only serve to start a pointless argument. Just my two cents.
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Where is @Peter_G with a poll?
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I wanted metal card more cover for iPhone and a few other things it helps what it offers I will love better cashback cause what’s offered it is like monzo plus the first time round not anything I would use I do things like Tesco so using curve I get 1% back at Tesco that kind of cash back would drive people to spend more and more and in turn help monzo
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Maybe they can have 0.5% cashback for Plus users and 1% for Premium users.
Exactly my point, with cashback on grocery shopping and utilities it will make users spend more using the card which would be good for Monzo.
I hope someone at Monzo is reading this and I hope there will be tweaks to the premium account in the near future.
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We have a poll!
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The whole discussion of the value of this reflects just how anti-consumer and opaque packaged products are.
Ultimately, they rely on some customers not using the benefits, thereby paying over the odds and delivering profit. Insurance is the tried and tested method. Premium locks you in to providers Monzo has selected for Monzo, not for you.
This is miles away from the marketplace/hub and spoke.
Innovative features that are free elsewhere are also being locked away in Plus and Premium with the only possible rationale being to extract maximum profit from the current userbase, however uncompetitive that makes Monzo’s free offering.
I think there’s no clearer sign that Monzo’s incentives are not aligned with the needs of its customers.
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