You still lost money. Even if Monzo paid you more in Interest than you paid Monzo for the Plus account, because Marcus pays 1.45% without a subscription fee 
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I’m really disappointed by this line, because it implies that everyone else did get what they were promised - which is simply incorrect.
Anyone who signed up to any V1 iteration has not been able to receive all the things that Monzo Plus promises at the time time it was advertised. Why is this point not being formally addressed?
The only interpretation of this I can take is “because we did not write our advertising promises into Terms and Conditions” we are not legally obliged to give a refund.
Package happiness or not, combination of packages aside, the things promised as part of the core component, which everyone in V1 receives has not and will not be fully delivered.
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I have. I put the full £4000 in and leave it there. I’m keeping it until the end of interest.
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I’m stuck in an infinite loop trying to cancel my Plus subscription.
Send a message asking to cancel and the bot replies with these options
Click cancel Plus and you're directed to the help article
Click 'chat with us' and you're back at square one again
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There should be an option to indicate that none of the articles it found were helpful. Then it should put you through to someone.
Yes it will put you through to someone, I had the same issue initially.
This is silly. Only refund everyone who wants to cancel / has already… that doesn’t seem difficult to me and not a valid reason to withhold refunds.
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Click “Something else”
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For me, Nick, it was
- a URL (which I took)
- card (which I didn’t)
- swag (which turned out to be a grossly overstated couple of stickers but only if you took a card, then promised to others who complained, but only those who found a certain post on the forum)
- events (both held in London, one of which was open to all Monzo customers)
- discounts then arrived (none of which were particularly exclusive to Plus, I was ineligible anyway due to already being a customer)
- interest (which I got)
But fundamentally the £3 early bird was also sold as an incentive to lock–in value for future developments, which never came. As that was a promise from the original offer, before they fiddled around with discounts and interest, yeah they delivered on some parts of the deal, but they didn’t deliver on the deal as it was originally sold.
The massive kick in the balls, of course, is that we’ve seen Monzo admit as much to some folk who have complained, whilst maintaining that the policy is quite the opposite to other complainants and everyone else. That is the sheer opposite of transparent, or “making money work for everyone” or whatever. Monzo feels like a completely different company right now. I sometimes think it won’t backtrack again simply because it would be the, what, fourth, fifth volte face?
I have simply lost most of my trust in this company, because it has exposed a real seam of truth that the Plus team absolutely treated their customer base as complete and utter fucking mugs, throughout the whole sad sorry relaunched and relaunched–again affair.
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Sadly, this sums it up for me. The exciting days are overshadowed by the initial Plus offer reaching out too far too soon without a sustainable product, failing, and then Monzo mishandling the failure. Two reboots (one failed, one still to be realised) were then attempted without apparent substance.
For clarity - I’m still paying the early bird Plus monthly fee. I chose to wait it out to see what develops. I also chose to see how other Monzo users reacted to this and I’m fast approaching the ‘refund request’ stage because I now believe it just didn’t work at any fundamental level.
‘Disappointed’ is my most accurate description. Time to kill the ‘Plus’ concept and move onward.
EDIT: I’ve now requested a refund via in-app chat with a full breakdown of why. Sad.
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I have…?
How had it personally affected you?
I do feel that Monzo need to be very careful as the FCA would visit them due to the level of complaints and press coverage they are getting !! I’m a V1 and I have been refunded … £12 covering my costs, keeping url and plus card until ordering a new one… I complained about miss selling !
They could end up with a heavy fine!!
I’ve seen it happen !!
Are you really sticking to that?
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I’m days away from my 3rd anniversary of working here and in some ways it’s felt like a different company every 6 months. In other ways it hasn’t. That’s par for the course.
But as far as Plus, like I said before, part of growing is the freedom to make mistakes and learn from them. And we’ve learned and are still learning a lot from this. We’re a much bigger company than we used to be, and I don’t think it really makes a huge amount of sense to look at this in isolation and cast a judgment on the whole company based on it.
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From reading this community three things are apparent:
-
Monzo has enjoyed rapid growth to more than three million customers
-
The standards of customer service have tanked
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Monzo Plus was poorly implemented and then canned
I wonder if it would be more cost effective for Monzo to refund all Monzo Plus subscribers rather than conduct time-consuming case-by-case reviews?
Perhaps it’s time you admitted you’ve dropped the ball big time, refund everyone and move on?
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I’ve tried to stay out of this discussion because it has got quite heated at times. But just a few observations from me.
I joined as an “early-bird” paying £3 a month for the interest and in the hope that other features could be added (such as breakdown cover, contents insurance etc). I kept my coral card, was not too bothered about swag and didn’t change my Monzo.me name. So in essence I only gained some interest.
When the bundles were announced I cancelled my Plus membership because none of them offered value for money. I did not request a refund or was offered a refund. Now technically I perhaps could have pushed for a refund (of about £9) because I didn’t get everything I was offered which included the option to add new features. And this is where I think a lot of the feeling of unhappiness is coming from because some people would have signed up for things such as swag and future features.
I’ve seen a fair bit of negative feedback across social media and it is really disappointing. We all want 
to do well and be successful. I personally would have offered refunds to everyone but I also understand why this didn’t happen because some people did benefit from what they signed up to. I think the company are listening to feedback and are heading in the right direction. Well done for admitting mistakes were made. But I do feel there will always be this shadow of mistrust hanging if this isn’t resolved fully.
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I think you intended to type bundles but what you actually typed happens to be so apt.
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I’ve just changed it!! Hilarious. Serious point fail 
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I don’t mean to be overly critical but, to me, it genuinely does not seem like Monzo has learned from this at all. The same mistakes are being repeated, the new Monzo Plus Team are going down exactly the same route, except now they’re considering making the app freemium as well. It’s all very disappointing and makes me very much doubt the value of my investment in the future.
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I know what you’re intending to say, but I’m afraid you’re wrong in this case: No company is “free to make mistakes” with paying customers. I get why you might feel it’s still OK for there to a limitless ‘Monzo is just finding its way and we’ll mess up most of the time but hey we’re learning’ culture where you work, but as Monzo has just found out, that doesn’t wash when you’ve asked people to pay £6 per month for the privilege.
If you’re asking people to spend, you’ve got to come up with a different apology I’m afraid.
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