A website that archives websites so that you can look at what they looked like on certain dates in the past. Going several years back.
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Still puzzled by this. What exactly changed other than corona friendly insurance tweaks - hardly going back to the drawing board for over six months. Was there something else planned you have been unable to launch?
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Yes exactly, I’d hoped when they shelved Premium in the Spring they were going off to re-tool it without travel insurance, because surely nobody wants that now/yet, but seems not.
I thought they might do something like those new device insurance places that you only pay while you’re out or based on what you take, and it’s adaptive, and how about something like that for holidays, something between per-holiday and flat-rate, so somehow per-month price would have been lower during CoronaTimes, but no, it’s a very aulde-banke offering. Disappointing.
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Whilst I like the idea of a metal card, I think I’ve used the physical Plus card maybe once in three months, even though I love that it looks like a Pearl Jam album cover. I use Apple Pay on my watch for nearly everything, so it never leaves my wallet.
For everything else, travel cover seems a little redundant now when I’m not even travelling to work; flights in and out of the UK are likely to be grounded after New Year’s Eve and the airline industry is in a mess from the pandemic. The phone cover isn’t really worth the price of entry. I’d rather have the cash on standby to buy a new phone if I break the one I have.
Whilst it is not for me, I can appreciate that it may suit some, assuming the world gets better from here on in. However, it does seem weird releasing a product in 2020 for 2018’s world. Perhaps £15 for a metal card and a bunch of discount coupons for groceries at the Co-op would have been more useful in 2020. Perhaps throw in a bottle of hand sanitiser and a Monzo-branded face mask.
Travel insurance is good enough for the uk aswell as internationally if any issues crop up in the uk you are covered it’s not all about holidays
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Pensions
Life Insurance
Stock purchases trading 212 or money box that’s intergrated with the monzo app/purchases
Company tie ups, 1% cash back on purchases, DD etc
Personal profile products - AI in banking is barely touching the surface but it’s going to become huge AI banking will personalise products and recommendations to the customer based on there spending habits
Other things like - look after my bills.
For a premium monthly fee of £14.99 I believe our banks can do more and should do more but a lot different to mainstream out dated services in a time like this.
All of these 1) cash/revenue streams for Monzo 2) provide greater life options and products for the customer
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Instead of offering such a static set of benefits, why not give customers the choice so they can build their premium world, don’t want some metal in your pocket, don’t choose it, don’t need travel insurance because there’s a pandemic, don’t choose it, struggle to see why the costs couldn’t be broken down a bit, surely Monzo could still make money and prob get more customers
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I think they’ve just plucked a number out of thin air though as metal cards do not cost anywhere near £50 and if they did they certainly wouldn’t be included in the plan.
They’ve at least tripled what the cost of the card is. They’re standard now - they’ve not created any new processes to create this card.
I’m inclined to believe them. There was a whole behind the scenes how it’s made for N26 a few years back in relation to their metal card and I distinctly remember a point being made that each card costs them around €70 to manufacture. That doesn’t take into account research and development costs, prototyping, design, shipping etc.
What is your source to the contrary of Monzo’s claim that allows you to categorically state the cards don’t cost anywhere near £50? You can’t just call a business a liar and then not back up the claim. IANAL but that reads like slander to me.
Revolut charge £40, though I suspect their cards are cheaper; they certainly looked and felt cheaper than my N26 one when I had a chance to look at my friend’s brother’s metal card. The fee may be higher for in contract early cancellation too, and they lock you into 12 months for example, as did N26. Monzo’s minimum term is just 6 months and I think they deserve more praise than I’ve seen them get for that. Shorter terms are always better for the customer.
Manufacturing costs can vary by manufacturer, material quality, scale, process. I don’t think the process for the level of craftsmanship that can go into these is as standardised or as simple as you think it is. N26 for example had to create an entirely new process just for the black colour of their metal card, so it didn’t fade, develop a green hue or tint, or reflect light in an unappealing way. It’s quite possible Monzo are doing something simple for the white finish. White is a well known hard finish to achieve.
You’re simply making baseless claims that have no basis in fact, because you simply don’t know one way or another how these cards are being made, and how much work and effort goes into crafting them.
I’m sorry if that sounds harsh, but if you know what you’re saying for a fact, you should be providing evidence to back it up, especially when it borderline accuses a business of being disingenuous. Perhaps you meant to phrase your wording more subjectively, but you haven’t done that, so please choose your words with greater care in the future.
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£24/year cheaper and you get mobile phone insurance for all the phones in your household, plus breakdown cover.
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I think you’re vastly mistaken. Whilst I don’t have any proof to share with you - there will be zero ‘craftmanship’ that goes into this from Monzo’s side other than getting samples and tweaking them. They have not invented anything new here it’s a standard process pioneered by others which will now be a standard production item with the card manufacturers.
You’re right, it was then, now the issues have been solved and are known to the manufacturing industry and product designers now have no issue creating white things. Monzo certainly haven’t gotten into material design and crafted a new paint here.
I would be genuinely surprised if Monzo were spending more than five to ten on these cards. You have to remember that the plastic cards are pence now.
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Are you saying Monzo are lying then? They say it costs £50 to manufacture.
I don’t think they will have said this because it’s not true. They’ll say it costs (as in you) £50, the cancellation cost is £50 etc.
They’re unlikely to release the actual cost.
The T&Cs say it costs them £50 to make the metal card.
For the benefit of screen readers this is a quote from Monzo Premium Terms and Conditions: “ If you change your mind, you can cancel Monzo Premium within 14 days of signing up. If you’d like to cancel, you can do so in the app. We’ll give you a full refund but we’ll charge you a £50 fee if you’ve ordered a metal card. That’s how much it costs us to get your Monzo Premium card made.”
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Brilliant work Monzo! Seems a lot better value than the current plus account (which I currently have) seriously considering the upgrade.
Can you now start to work on better offerings for retailers please? I was hoping that this new premium account would come with new offers but still the same 
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I bought my phone outright and have an invoice from Carphone Warehouse, would this be sufficient for the insurers T&Cs? imei can you access that off your phones settings?
Presume couldn’t include my partners phone as a second device?
This article also says £50. Costs Rev £40 and curve £37
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Also untrue - the last post on here from Rika, about card production, confirms that the hot coral card costs around £4, and IIRC the plus card a little bit more.
I more meant how it saved them money… That was the bit that confused me
We’ll never truly know the exact cost of the card but if they could make the replacement fee lower than £50 they would, that’s going to be a CS nightmare.