Loyalty Account

Can’t see anywhere that @Dolgoth has said anyone has been rude. Just some surprise at the degree of pushback, perhaps?

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No, a Ponzi scheme is like a pyramid scheme in that the early participants make larger returns than people down the pecking order.

The difference between the two is:

Pyramid schemes claim to work by getting new money into the chain - the whole “You pay one person, two people pay you” thing.

Ponzi schemes claim to be investments - “you give us your money, and we make it grow” - but investment from new customers is in part distributed to earlier customers as ‘growth’.

I think I’ve got that right.

If Monzo don’t do this everyone can send me some money each month if they want.

I’ll then pick a random person to give a small portion of it back :stuck_out_tongue_closed_eyes:

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I’m fairly random…just saying :slightly_smiling_face:

I dont like that idea of loyalty account.
What if instead of that Monzo follows the scheme of boosts from EE for example.
You pay £3 for Plus, after one year £2, after two years £1, from the third year onwards you have Plus for free if you maintain Monzo as your only account.

(I still don have the new design so I guess I am an outcast)

How do you determine and enforce that?

For example, I know a lot of people who on payday bounce their money all over banks to take advantage of deals. So personally I think it would make more people do this and it therefore cannot make Monzo more money.

Then in addition to this they start giving Plus away for free after a few years? They’d actually be losing money not making it.