With the Google sheets integration, you could make it yourself.
I’ve done it, you can see some of the things people are doing here. You don’t need Plus.
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Been told that I can’t be offered this? Which is bizarre as doesn’t say anything in terms and conditions with regards to eligibility? Anyone explain this @tomdavies
Is there a reason to loose the plus under your photo but on my business account it still comes up business pro I had plus before I changed to new plus
I’ve had some time to digest the current position of Monzo and their Plus offering and I have some thoughts.
First, I love my Monzo account. I have my business and a joint account with them and everything I earn goes to Monzo. However, the rate at which I’m wowed by them has declined, and the envy looking over my shoulder at my previous legacy bank I left is increasing.
Monzo seems to be moving in a direction to where it is packaging things up that other banks offer for free, such as open banking and credit checking, and then selling them back to us under a ‘premium account’. I closed my legacy bank account (that had both of these things for free) and moved to Monzo because when I first heard about Monzo I bought into their “we’re not like other banks” ethos and believed that all the new tech they were offering us with the app was a sign of things to come.
As a challenger bank, Monzo managed to persuade me to move everything over because of the feature-rich app and how easy everything was. Initially, Monzo was chucking all this cool functionality our way that other banks hadn’t done, and now I’ve moved over it seems if I want the new stuff then I have to pay for it. Custom categories, open banking, credit checking. All things that other banks offer for free.
I understand that Monzo has to make money, but I moved to them because of the feature-rich app compared to competitors, but now their competitors offer more for free than Monzo.
As I said I have my joint account, my business account and personal account all with Monzo, and still believe the current offering is just about good enough to stay here, their bill pots and savings features are the best I’ve seen. But moving more cool stuff behind a paywall that other banks are offering for free, might just lose some customers.
It is now at the point where my previous account would have offered more functionality and benefits than my current Monzo if I had stayed. For example, rather than freezing my whole account if I lost my card, I could just prevent its physical use and still use ApplePay. I could use open banking to link my accounts and get free credit checking. I could have cashback on some purchases up to 15% and 1% interest on my balance up to £5,000. I would get also get 6 cinema tickets a year, too.
I hope Monzo is working hard behind the scenes to bring us more cool stuff. I know it’s just a bank, but the old legacy banks are playing catchup and in the case of my previous bank, their free offering just overtook Monzo.
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Nothing worth paying £5 a month for… so far at least!
1% is £1 in £100 only paid on up to £2000… it doesn’t even cover the subscription fee!
Most apps like Revolut allow you to see other bank accounts inside the Revolut app for FREE
Virtual Cards also offered for free with Revolut
Credit Score is available FREE with at least 3 providers
A hologram card… wow!, still not worth £5
Offers are usually from those providers that nobody wants offers from
Custom categories…Paying to be allowed to organise MY money in MY account the way I want?
Transaction Splitting – More as above
Advanced roundups… offered by MoneyBox already for free by connecting Monzo account to MoneyBox
you get a FREE £1 off for depositing your own money into your own account
£400 fee free ATM withdrawals overseas… already offered by Revolut for FREE
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Why would anyone expect it to?
If it did, Monzo would be effectively paying you to use Plus. What would be the point of that?
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They’d be incentivising you to leave your money with them so that it makes them money, by giving you cool software features.
The way other banks put you on a premium tier if you keep lots of savings / pay in high salaries regularly etc etc
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I didn’t expect it to - I’m just saying that People think 1% is a WOW factor… its not…1% really is nothing to get excited about at all
Received my new Monzo Plus card today, its lovely
Probably been mentioned already but when i added it to apple pay though still shows the old style Monzo Plus card, would be nice to have the new one with the hologram and colourway
Anyone having issues Verifying the new card through Google Pay? Takes me to the Monzo app and nothing happens and It can’t be verified.
EDIT: Fixed by removing the card and adding through Monzo first and not the other way round. Not sure why it didnt work adding through Google Pay.
Have you tried reinstalling the app?
Thanks mate yes this worked
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They might as well not have Plus then and just give everything for free.
Personally I think if the objective is to attract more people with higher salaries and if they want people to entrust more of their savings with Monzo improvement to customer support is more important than expansion of feature sets.
But I don’t think that’s the objective of Plus.
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This is a super valid point above I feel…
For me, I have gone with plus for now - I’ll review tho after a few months and may well cancel.
I see plus being a fundamental point in time for them - as you say the legacy banks are playing “catch up” and can often afford to put these features out for free, whereas monzo it feels plus (and I don’t blame them) is costing these features to pay for the development of them
Time will tell as to what you get for free - and not.
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Why would the interest cover the subscription fee? Monzo are trying to make money here
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Monzo have to give Apple updated design for them
I don’t think legacy banks are truly playing up - they may add features which in theory match some of the new banks but when you use their apps is so less intuitive and sometimes even hard to find the features. Also the older banks tend to spend a lot of screen space trying to sell you other products in their apps. Does anyone go full Monzo and then go back to a legacy bank due to functionality? Rarely I would say
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Plenty seem to threaten to do so.
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TLDR from this whole thread - I can get all these features elsewhere for free / cheaper.
Why don’t you use those services elsewhere instead of wasting time complaining here then?
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I did.
The reason being;
- I wanted to trust my savings into a separate account not with Monzo (so if something happened to one I could at least access from another)
- I still don’t trust Monzo’s longevity enough
- Natwest offer nearly everything I needed from Monzo in their app now ( and some plus features for free
) - I kept monzo for spending as they still do instant notifications and I much prefer the UI but everything else is Natwest now