Is it just me or is the current account underwhelming

In ā€˜funnyā€™ :roll_eyes: phones you can find this at settings page right at the bottom.

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Itā€™s in settings, somewhere at the bottom,
Monzo user #ā€¦
Member sinceā€¦

Similar instruction for Android and iOS. Please check on the prepaid app, as CA app shows a different number. That being said, my android CA now shows correct user number, so might have been fixed, not sure about iOS app.

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My user numberā€™s correct in the prepaid app but not the ā€˜member sinceā€™ bit.

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Yes, the number is the same for both but the dates are from when you joined each app. March 2016 for the prepaid and July 2017 for the Current Account. I think I was in the first 250 as I went to the London office to collect it :sunglasses:

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Iā€™m user #5,318. I didnā€™t realise I was in the first 10,000 users tbh :man_shrugging:

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When Monzo has its pots where you can allocate your money to different things you can leave the spending money in your main spending pot! :slight_smile:
Pots

I do actually hope Monzo does not start bundling completely unrelated things like random insurances with the current account.

Even cash back is stupid, since the money just comes out of your own pocket via the fees charged to merchants and this higher retail prices. (But I assume Monzo canā€™t do anything about those fees?)

Iā€™m also hoping they donā€™t start doing the bundles even though I actually use them with my other bank! What Iā€™m hoping is that this is where the partnerships will come in use so that we get best value so there are equivalent services avaliable by providers we choose.

I think the card fees are set by the processors of the card machines. The likes of Visa and MasterCard mostly but then also the actually service providers so Barclaycard and the likesā€¦I guess there is nothing stopping Monzo becoming a card processor but you would say itā€™s a totally different service aim to being a bank

I think that both Monzo and Starling need to get the basics of a current account spot on before chasing new ideas.

The ability to set up and manage new payments in both challenger bank apps is underwhelming and lacking in functionality compared to legacy banks RBS and First Direct who both make it very easy. Letā€™s face it, most people will have standing orders, direct debits or both on their existing current account.

What sense is there for them to move to a challenger bank that can not match the level of functionality of their old bank? Not all new customers are tech savvy / interested in FinTech / inquisitive. They just want it to work.

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I have a prepaid Monzo card and others. I am not about to make Monzo my primary bank (even if I was invited, and Iā€™m not) contradictorily I am an early adopter but I am averse to allowing data which may be considered personal to be aggregated. I assert there is one thing Monzo has in common with legacy banks and that is it will ultimately assert itā€™s access to data from individuals as having carte blanch to use or share this as it thinks fit. That is my final red line. I admire individuals and companies who genuinely seek to break new ground but long experience has taught me that the most ethical seeming is just another instance of snaring those who are nieve. Probity is, or should be, the ultimate watchword of banking. So I find the PR offesinsive of Monzo and competitors quite un-reassuring because it seems to me, a lot like Cameronā€™s smoozsing. He and Osborne were arrogantly wrong in underestimating how their regime would be viewed. They were possibly the most outrageous at exploiting ā€˜public opinionā€™ and using RP as a tool, both of self promotion and social/political change. I am perfectly willing to declare my outright opposition to their politics and to their self promotion but I am equally opposed to any politically motivated entity using my personally attributable data for their own ends. Letā€™s not be coy here, so called anonymous data, whether encrypted or not, is not anonymous but very easily processes to be of high value and crucial (commercial) value. Hence, no mater what assurances are uttered, I think Monzoā€™s ultimate weakness is that it has predicated an awful lot of data capture and a huge amount of financial backing. At some point in the future all this will come to a head. If they fail, or succeed, will become the most pressing issue. So that is why I will not agregate my online data to a single entity, and why I do not prize Monzo. I predict that events will determine that Monzoā€™s seemingly ethical stance will be compromised. Past performance may not be the defining factor but I forsee a hypothetical situation where discretion and rectitude are compromised in the name of commercial interest.
The actual integrity of Monzo Bank is yet to be established. Those who chose to sign up are of course entitled to do so, but I wish to register a sort of procces whereby some of us are not so trusting, nor so self-indulgent,

l interest

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Hi Nick - have you ever met @tom?

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Well, that escalated quickly. :hushed:

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Why canā€™t you just use it as a secondary account, just like you did the prepaid card. What did you lose?

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That was a fun thought stream. Surely though unless you go off grid someone has all your data? If you use one bank account over another not sure what Monzo is exactly aggregating here.

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Do you use Google? Or Amazon? Or any Social Network?

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No! :joy:

But I do use Monzo. :grin:

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If youā€™ve been on grid and then go off grid the grid still has your data.

Grids eh? Down with such things.

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Totally agree.

I was excited (bizarrely) to set up DDs in the CA. But I do have to say I was expecting the reporting / presentation to be more engaging.

But stepping back again - the very fact I was expecting a more involving experience when thinking about a damn DD says something significant.

Iā€™ve bought into the team at Monzo so am giving them plenty of time to polish and perfect. AND THEN add cooler and cooler stuff.

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Iā€™m hesitating upgrading to the CA. I didnā€™t really want another bank account, I wanted a prepaid MasterCard.
Just a super simple card to pop money on and spend it with visibility. Itā€™s the only card I use and itā€™s great knowing Iā€™m not dipping into the bigger pot which I keep elsewhere.
The idea of a CA seems like a bit of a headache. It does sound like it has some cool features with the pots feature for saving etcā€¦ but I wish I had the choice to keep it as a prepaid MasterCard as I thought that was great in inself and the simplicity I need and want to keep right now.

Transfer money, spend it, repeat ā€¦ not sure why that is any different to the prepaid card(with the exception that card top ups are currently not available)?

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