Introducing the new Monzo Plus

I don’t understand why Metro Bank is not an option when they support open banking. Can anyone tell me?

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Current Account vs Savings :wink:

Love the fact the v-cards have five years expiry on them, hoping it’s the same for physical card

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Yh literally just clicked after i posted :man_facepalming:

If I’m currently overseas and I would like to sign up for Plus, would my card be shipped to my UK address? Or is there someone I can contact to get my card shipped to wherever I am?

Any plans to allow you to send money to the account with the same button?

Seems like it makes sense and if it’s not then the button icon and label are very misleading

Because their flavour of OB hasn’t been implemented by Monzo yet. Each bank takes effort and the available effort isn’t infinite.

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I completely missed that thanks!!!

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There aren’t any features that I’d consider paying for in these early stages so I won’t be signing up. Of course that may very well change in the future. My problem now is the ‘Get Monzo Plus’ button permanently showing. It would be good if that wasn’t there but did appear now and again as a gentle reminder of its availability.

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The custom category worked well, when i went to Starbucks the purchase was identified as Coffee… and the Virtual Card worked perfectly with Curve and Samsung Pay :slight_smile:

Can i add the Virtual Card to Android Pay???

Some FAQ:

For those that don’t want to trawl through loads of posts, this is reposted from earlier in the thread…

Can I change the payment date?
No, this isn’t possible, your payment will reccur on the date you registered. Some other users are getting round this by using the scheduled pot withdrawal feature.

Do I have to get a new card?
No, you can skip this, and always pick one up later when your current one expires.

How many virtual cards can I have?
You can have up to 5 at once, you can always delete/remove old ones to add more.

Can I get a Virtual Card to pay from a pot?
Nope, this isn’t supported at this point in time.

Can I add Virtual Cards to Apple Pay/Google Pay?
Not at this point in time no.

What is the limit on Custom Categories?
You can have up to 50 custom categories.

I can’t see a way to sign up in TestFlight
Make sure you’re on the latest version, an update was released today.

What happens to my existing Monzo.me link?
You get to keep it, you won’t lose your customised link.

Are Joint Accounts supported?
No, not at this point in time.

What happens if I cancel?
You lose the perks. Your card will be cancelled, your custom categories will be archived and not usable anymore. Read the Terms :+1:

Show me the new physical card pls
https://twitter.com/blob8108/status/1283679188873031681

Will I still have “investor” on the card!
Yea, but on the back this time:

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Only physical card to Apple Pay why do you need a virtual on Apple Pay or google pay when physical card is used and card number never Goes to any company you pay with Apple Pay and google pay

Testflight is working now so can remove that faq :slight_smile:

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Virtual virtual cards? Now that’s the future :stuck_out_tongue:

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I think wanting a virtual virtual card like that is a step too far!

EDit! Ordog!!! Beat me to it.

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This looks like a much better implementation! Good work team :+1: Just looking at purely the monetary benefits from plus, the interest rate obviosuly compensate for the cost of £60 p.a. Are there are any other offers expected to be added in the near future that could make this more attractive?

I’ve been looking forward to this update for a while now so was very excited when I saw the news this morning. Congratulations to the team for all your hard work - it looks great!

Overall, I think Plus is very slick and long-awaited features like custom categories, transaction splitting and a new card (is it just me who despises coral?!) will be well received. I’m hoping that we’ll get even more value for money in the future with additions to the other features, as mentioned in my thoughts below;

:dollar: Earn interest on your balance and regular Pots

Any perk that will help to offset the cost of the product is a welcome addition so I’m glad that this feature has been included.

:link: See other accounts, in Monzo

This is the feature I have been most excited about but, unfortunately, it doesn’t go far enough for me. Mainly, this is because there isn’t Amex compatibility yet (which I know is being worked on!). However, even when this does happen, without the ability to categorise transactions on other accounts, include (or exclude) these transactions in my budget and auto-transfer money into pots based on these transactions (either in app or through IFTTT) then this feature will still not be very beneficial to me.

I’m currently using an iOS shortcut on my homescreen to move funds from my main balance into an Amex pot (which my direct debit is taken from) whenever I make a purchase to prevent spending beyond my means. However, these transactions aren’t included in my budget as you can’t categorise pot transfers currently. As I do all my day-to-day spending on my Amex, this makes the budgeting feature in Monzo (free or Plus) futile. However, with the new split category feature, I guess I can now split my Amex direct debit into categories to be included in my budget - but this would mean I’d have to trawl through a month of spending and do my own calculations! I’m hoping Monzo have the same goal as me in mind and we’ll see these additions in the near future.

:eyes: See your credit score, in Monzo

I currently monitor my credit score and report (for free) on 3 different websites so was looking forward to using this feature on Monzo to eliminate the need to look elsewhere. However, it’s a shame that you can only see your score in app and not your full report or even just a couple of more detailed insights (e.g. total credit utilisation across different accounts).

:shopping: Offers

I’m looking forward to seeing what’s added here and I hope this feature will eventually become similar to O2 rewards and the like with weekly perks like a free coffee etc. My HSBC account had a rewards scheme which has been scrapped recently. The discounts on there were very limited and uninspiring so I hope Monzo will be able to secure some more exciting offers for us!

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Updated it to point to an update TF release :+1:

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Yep! We designed a screen to do this, but we had to cut scope and the existing screen already existed so we just went with it for launch. I can’t tell you when we’ll get to it, but it is part of our plans

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That’s enough for me and great to hear! Thanks for the response