Is it just me or is the current account underwhelming

Currently everything works as needed!!! The current account does what it needs to! :slight_smile: it is very basic, but the potential is far more exciting! :slight_smile: can’t wait for the awesome features!

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There’s no way I will move my main account from 123. I get too much back on it

Good for you. Why not go and tell them on their customer’s forum…er? they don’t have one?

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Will you be using the Monzo current account? If so, what benefit does it bring you?

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One point I agree on from the original post is that it’s a shame that the prepaid card will be disappearing.

Maybe I don’t represent the typical user but I have been loving using Monzo and have been using the prepaid card as my main spending card - I don’t think I’ve used my HSBC debit card in the last 6 months at all. The thing I like about the prepaid card is that I can top it up with £200-300 at a time and it mentally helps me feel how much I am spending on a monthly basis and actually helps me control my spending (coupled with the amazing instant notifications etc).

It’s also good to know that if the card is ever cloned/stolen that I wouldn’t lose any more than the amount that is on the card.

I know Monzo is moving towards being a proper full on bank and maybe there is no money in the current prepaid solution vs having people using full-fledged current accounts but it would be amazing to have the choice of the two.

4 posts were merged into an existing topic: Please keep the prepaid cards

I am currently awaiting my current account card to start the process and I’m really excited. I am aware it is just Beta and things might not work properly all the time but the two main reasons I am excited for it are these:

  1. I can’t wait to bank with a small independent company rather than big corporation knowing that my money won’t go funding governments and weapons for wars…
  2. When I wake up from a long night partying and hungover I will know right away how much I’ve spent and I won’t be surprised 5 days later when the money is debited then!
    If you are not happy with the current account, put your card aside and just don’t use it. It won’t cost you anything! In the UK current accounts are free, in France where I’m from you need to pay a monthly fee just to have a debit card!
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I’m with you on this. I was in the market for a pre paid card to limit my spending abroad and protect my current account from being hacked. Monzo provided a great alternative to other pre paid accounts I’ve used as the charges are minimal and you don’t need to use a specific Euro or dollar card. I don’t really need another current account.

You won’t have to take one, it’s purely your choice.

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To be fair, there’s no real reason why you couldn’t still use the Current Account in the same way as you use the Prepaid card. :eyes:

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That is really what I plan to do: I have three accounts

  • Joint for dumping money into for joint expenditure
  • Individual for my own bills
  • Now monzo to dump my spends in

Because it’s a preview, I might do a full switch way way down the road but I have to be honest I’ve never found the analytics that interesting and have never really glanced at that.

Part of the reason is that although my wife and I are high-earners, we actually have very few financial commitments that ‘hey you can save money on this!’ is that helpful because the manual crunching for each item is only once a year for most items.

Oh and since people have been talking about benefits down the road - if Monzo thinks about this eventually - bear in mind that some of us don’t own cars! So incentives around car insurance and breakdown cover are as useful as a glass hammer.

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having just got my renewal for car insurance - I have a car :slight_smile: some people do, some don’t :slight_smile: - they wanted to charge me £375 for renewal after no claims and large NCD ( no claims discount for non car owners :slight_smile: ) I used a comparison website and saved myself about £100 - if Monzo could do this eventually for me on House , car , holiday insurances, gas, electricity bills etc etc etc … having learnt when my bills are being paid from my current account - Im all for it - I agree what I don’t use is as useful as a glass hammer, which presumably is what Monzo will learn with my spending data - that I do have a car because I pay for petrol regularly, and when my last insurance premium was paid , my age ,where I live, my last gas bill etc :slight_smile:

Like most users a blanket push notification for spurious items would not be welcome from Monzo and I am sure they are well aware of the feelings about this

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My issue is that there are so many kickbacks (see current investigation in moneysupermarkets) that even if Monzo suggested it could save me money, I’d still go and check this out independently so it’s not much of a time-saver. Is Monzo planning to give us a cut? Because otherwise, I’d still do any significant changes myself via sites like topcashback…

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I’m not sure monzo could reasonably do offers for things like insurance as there’s lots of information that’s not available to them that decides your premiums, like what car you drive and your claim history (and medical history for holiday insurance).

Revolut did similar with a load of different offers, insurance, loans etc until they completely bloated out their app.

I’ve liked Monzo for its simplicity and have been using the CA for a few weeks now which is fine. Although I was surprised with how many people have made it their main account already (while in beta). I’m happy to keep using the account and seeing what the future holds for it, although I’m still waiting to see what fees they will bring for withdrawals abroad.

It’s underwhelming, but works OK at the moment, I’m interested in the future additions.

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Hi Alex wasn’t the point of the CA preview to get as many people using as their main account to find the bugs and issues? I don’t use it as my account for salary but do use it to pat DD’s and regular bank transfers.

Yes us early adopters have been finding organisations that needed updating to accept the :monzo: Monzo sort code.

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Yes, the point was to have people to use it to find problems with purchases etc and also for all parts of the banking which I do as much as I feel comfortable with. I’m just surprised so many people jumped on to moving their salaries over to a banking app/card that is still in beta.

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How else we going to find the bugs? :slight_smile:

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I’ve never said it’s a bad thing. I’m just surprised with the amount of people moving everything over instantly while their CA has only been out for a short time.

I’m fine with using it day to day with a backup card (as I do), but I do not plan on using it as a main card (at least until it’s out of beta) with my DD’s and salary.