Monzo Current Account Counter

Hello again, all! The day has come - Prepaid is officially over.

In the above blog post you’ll find some specific stats. The great news is that 94% of active prepaid users upgraded.

As this graph shows, we ended up with around 98k un-upgraded accounts -

There’s still time for them to get a current account too, their prepaid card just won’t work anymore.

Our total number of current accounts will remain visible on monzo.com for now (we might move it in future). But right now it’s at a rather dandy 571,180 :tada:

Thanks all :slight_smile:

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Great to hear! Although the page with total current account numbers now redirects to the prepay closure blog. Is there a separate url to view it?

Richard posted it above but I can see how it could be missed. At Monzo.com riiight down the bottom.

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It’s near the bottom of the homepage.

Can’t it be higher up @cookywook? Alex’s link was clicked like 6000 times, let alone the people who had the link saved in favourites. That’s like 10-20,000 times people gotta scroll right down to the bottom of the page.

Aren’t you proud of the user numbers and growth rate?

What about “The bank of the future
Instant notifications. Built-in budgeting. Free payments abroad.
This isn’t banking as you know it. Monzo is a bank for everyone, built together with our community of 571,375 users.
Join the revolution today.”? :thinking:

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There was discussion previously about that specific page not being written the write way for it to scale to (a) the numbers and (b) to remain permanently.

The number is now in the footer of the main site. :tada:

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Read that but didn’t believe it. Monzo has some of the best programmers in the country - why can’t they accurately display a number from a database on a website?

Sounds like they are all wasting their time on fruity payment methods for the minority rather than the real burning issue of data analytics for the thousands of fanboys and fangirls who must know exactly how many others there are. :nerd_face:

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Ah ha! Thanks all (I missed it on a quick swipe on my phone - and I think I was thrown slightly by the “remains” word) but glad to see it now :+1::smiley::monzo:

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Stuff on the homepage will move around a lot over time, as we iterate and improve on it based upon A/B tests, general directions we want to convey etc. We do A/B tests were the stuff at the bottom gets moved to the top and vice versa, so I wouldn’t worry about it too much right now — it’s all almost guaranteed to be different in a month’s time anyway :slight_smile:

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So daily sign ups seem to be holding up really well after prepaid closure. I wonder whether this is the run rate we can expect to see from here on in?

By my (dodgy) maths, 1m customers around September/October at this rate?

(PS big thanks to Monzo folk for keeping the counter! And @alexs, any objection to changing the link in your initial post - it don’t work no more :wink:)

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Done :slightly_smiling_face: I’ve put the old link in a ‘hide details’ section called..‘Old link’ so we don’t lose that record of how much interest there’s been in the counter :+1:

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:boom:

49

(from here)

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Whoop! :raised_hands::raised_hands:

Yesterday TSB told me that it’s growing far more slowly than Monzo right now…

IMG_20180411_193347

Edit: notice also I was wearing the official Monzo color coded shoes in the reflection…

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…and presumably that’s the gross figure. How many people are leaving TSB every day?

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365000 pa?

Doubt it lol

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I would have thought out of the 1000 joining each day…a large majority are using it as a main bank account rather than a top up and spend card or travel card etc a la starling, monzo, revolut, etc

I suppose can check the deposits on companies house soon enough for all the banks as starling nor monzo have told us how many people deposit their salaries into the accounts - which I would say is a very good indicator of viability.

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Looks like the waiting list is sitting around 26K now. Nice to see the bug has been fixed showing over 100K

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:tada::tada::tada:

What actually is the waiting list for? Is it because Monzo physically can’t process the number of people signing up per day and need to slow it down for production/admin reasons, or is it some kind of marketing thing. The whole, I want it and so do other people etc?