Think a lot depends on the retailer making the transaction. Certainly when l had a NatWest account and a blue card (online only) five to six years ago every transaction reduced my available balance and the online banking site showed the transaction highlighted in blue. NatWest switched this off and looking through their community pages they took a lot of heat for that. My experience of my NatWest purple (offline) was certainly some transactions took a say or two. Nearly all Contactless, and some chip and pin but few and l could usually reconcile that to where l was making the transaction, such as on train.
Amazon can be a little odd sometimes, but usually linked to delivery times.
I believe Amazon usually charge your card when they dispatch the item. If they dispatch items separately, they charge for each item when they dispatch it.
Gregg’s.
£2.00 for a washable cup, and you get a free drink on purchase, after that you get money off each coffee you get filled in it (can’t remember how much, I want to say 50p but that seems too good to be true) and if you get the Gregg’s app, so many stamps then the last cup free
(unless the prices at Gregg’s in London are higher)
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Anarchist
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This is something I would like to see, in previous thread I was sent a link to Chip where I believe you could earn upto 5% interest on savings for the first year. I am also using Moneybox and putting money into stocks & shares. The amount of time it takes for reach the other applications is something just over a week. If Monzo offered the same thing, but with the money being made available that would be a big improvement over these other providers.
Open to other thoughts / suggestions.
I keep getting surprised by features of Monzo. I just recently made a payment to Mod My Pi but initially, the payment failed.
I found that in the app it actually tells me that there was a failed transaction and why it failed (made a mistake in the expiry date). It is totally wrong that this should be an exciting feature but it really shows how lacklustre traditional banks have been with “features” (or at least the bank I was with)
I see your point and look at things in a similar way - I have maxed out my Tesco current account to get 2.5% on the first £3000 but you need to look at the opportunity cost. If monzo can get me managing my money better so I cut back on lunches at pret and squirrel away £20 a month extra through clever rules on pots then that it having way more impact on my wealth than the £5 or £6 interest I get from Tesco. If you are already great at managing your money, have plenty of it and want the best return then monzo might not have that much to offer you. For those who struggle with financial discipline the features can have a dramatic impact.
The Marketplace is Monzo’s opportunity to really add value for the users who are already good at managing their money though. I’m looking forward to being able to automatically invest in stocks or have my money transferred to the savings accounts that’ll earn me the best interest for example.
Do we think the market place be diverse enough for those savvy savers looking for the biggest return? I would still see myself shopping around to make sure I was getting the best deal which “might” make me not use the market place. Time will tell
Probably not at first, there’s obviously going to be a lot of leg work involved in getting the partnerships set up so there won’t be a comprehensive list of providers.
I’m not sure the marketplace will ever offer the very best deal for every product / service. I expect it will give some very good options & then most users will sign up via Monzo because they’ll make the evaluation / signup / on boarding / integration process so much better.
Plus Monzo have mentioned that they’re looking to include companies whose values align with theirs (& their users) and the company might have to be willing & able to share data via their APIs for integrations / a smoother on-boarding process so some might be left out deliberately.
I expect if you really want to shop around yourself, sometimes you’ll be able to find better deals. But obviously that’s time & hassle so you have to weigh that against the convenience…
While the marketplace may include many things where there is plenty of competition such as insurance, I think it can include certain things where there is no competition…for example buying Prescription Season Tickets (only relevant to England as the Welsh and Scots get free prescriptions)
