I’m wondering, does Monzo get the one off 0.15% commission fee for the amounts invested with Investec, or does it accumulate in the same way as the monthly interest?
If it’s the latter is there any thought at Monzo for investec opening up better interest rates for Monzo users depositing a larger minimum amount (i.e. in comparison to their direct minimum deposit and possible interest rate)?
This would encouraging users/investors to deposit more with them through Monzo.
This kind of thing is fairly typical for this kind of arrangement, though we’re up front and transparent about what we earn.
I’m not able to say anything just yet but it’s always been the goal to grow from here, offering multiple providers and a range of options (including minimums, notice periods, and rates) for savings.