Introducing Monzo Premium

Indeed thanks for that I had a look before i saw your reply :flushed:

Having scoffed at Plus and the idea of Premium, I’ve just taken the plunge and gone Premium…

I have had (and used!) Assurant phone insurance for years - the exact same policy as this Premium package has, for about the same price. Now, perhaps I was being ripped off for years, but it felt like a fair move to now have Monzo Premium and the same cover (and travel insurance…if I ever travel again…:microbe:).

Initial impression is that the terms of insurances are worth the money (£12.50 a month net of interest income on £2k) and I like the virtual cards idea.

The “other accounts in Monzo” bit is good but nowhere near as good as Yolt which does it better for free. Custom categories a bit better than Yolt though.

Not sure about a metal card - will see once it arrives I guess but I can’t recall last time I used my Monzo card. I am “full Monzo” but with majority of my savings elsewhere.

Lots of opinions either way here, of course, but for me it appears worth it for now.

I’d love a Monzo credit card in future - maybe with preferential rewards or something for Premium customers… :grimacing:

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I now have a large Mobile so the insurance might well work for me. I tried Plus and it was ok but what is going to stop me going to Premium is the stopping of the card when it’s done. I know people say “why should you get a card you are not paying for” but it’s been made clear that it’s £50 to leave within 6 months so the card IS paid for by the 6th month and so the customer should be able to keep it.

Going Coral/Blue?Coral was a pain and there was no choice, the system does it automatically. So until that’s resolved I am not going to rent a bank card I might only physically use a few times a year. If it’s £50 it’s £50 and I want to have the right to use that card afterwards.

Someone from Monzo said it could be kept on Plus, and that was a lie

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They stop the card? Yeah that does feel a bit customer-unfriendly tbh.

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What’s stopping you is that Monzo cancel your metal card and order you a standard coral one. So therefore your metal one becomes useless.

That’s what they said

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Has anyone else tried to do a paypal withdrawal on their Monzo Premium metal card?

It worked fine for me before on the old plus blue card, but shows as unsupported for the metal one :frowning:

Looks like Paypal have not updated their list of BINs yet

Amazing that they continue to lag behind every time and yet grow so quickly as a business

But why should you get to keep using your metal card if you’re not paying for it?

The only point to the metal card is to demonstrate to everyone that you pay Monzo £15 a month.

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If you pay for Plus or Premium, do the pay point top ups work in the time before you get the new card? I’ve got one to use before the end of the month

Yea. Your old card continues to work till you activate the new one when it arrives.

Because after 6 months you’ve paid it off effectively

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You don’t get to choose which aspect of plus/premium you’ve paid off after 6 months.
The metal card is exclusive to premium, therefore if you’re not paying for premium you don’t get to keep what is exclusive to it.

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To demonstrate to everyone?

What an odd thing to say… And why should there be a £50 charge if you leave within the first 6 months? So if you leave in month 2 and you pay £50 you are then paying for a card you can’t keep and features you won’t use.

The card should be yours to use after the 6 months or £50.

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Just don’t swallow any of the limit rubbish. I was told there was a £300 limit for PP so as I had to put in £350 I got charge for the second £50.

Indeed they do. And it messes up your mind. I still have my Blue card but it’s dead obviously

What other purpose does a metal card serve? It’s a status symbol. That’s all.

Monzo charge you £50 so they don’t make a loss on the metal card. Separately there is an ongoing charge of £15 to use it. The two are different things. All bank cards are used by the holder at the discretion of the bank. The owner of any bank card is the bank.

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No. You’re paying for a card they had manufactured for you and you agreed to pay £15 for 6 months then cancelled.

If there were no fees/cancellations then lots of people would just sign up for the card and then cancel. People are weirdly obsessed with metal cards.

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Well that’s a messed up status symbol. I am glad you pointed that out because if someone actually said to me “oh look at my metal card ya it’s such a status symbol” I’d tell them to get a pissing life.

Personally. It would be nice to have a debit card that does not fade off within 5 minutes. My Blue one already has several bits missing and i only used it for 3 months!

For me that would be the real benefit but I’m happy to stick with Gpay and keep my basic free card. And save £180 a year in the process for 80% of things I can’t or won’t use

Cheers

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Agreed - It’s a shame they don’t put such effort into the other cards