I wanted to share a quick update on the Monzo Plus trial that has been discussed on community forum in the last couple of days.
Thank you all so much for your feedback and comments! This has been really useful for us to go over and will be taken onboard.
About the Monzo Plus trial…
As Lindsey explained in her blog post, we are in the process of exploring a few ideas and Monzo Plus is one of them. We are currently running a very limited trial to get feedback on the Minimum Viable Product [MVP].
The features we chose to include in the bundles are a combination of things that we saw were requested by our customers in the past and something that we could offer at this stage. We’ll definitely not stop here and will evolve what we offer as we learn more, build more things and partner up with other companies to give you access to other products.
At this stage the aim is to understand the level of interest, get feedback on specific features and speak to people who reached different stages of sign up.
The discussion it prompted here is super useful and will inform the future decisions that we make around Monzo Plus.
There were some specific concerns that I’d like to address here.
Some of you pointed out that the current offer is too expensive. This is a super valuable data point for us to help us understand what we should aim for. It is worth pointing out that not every bundle will suit everyone’s needs and we are also working out what different features would cost us in the long term as we expand the offer to more people.
This trial also allows us to learn what card colours our customers prefer, how much value is attached to it and get feedback on the suggested card designs. There are still a lot of details to work out, for example, how Monzo Plus would sit with Investor cards longer term. We don’t know a lot of things just yet, but hopefully running small experiments will allow us to find the right approach.
In parallel we are talking to a number of potential partners to see how we can offer other products! I noticed that many of you mentioned that phone insurance is something that you would be interested in. This is definitely on our roadmap and we are exploring different options.
Just to reiterate - this is not set in stone, it’s very early days and we’ll keep iterating on this. Thank you all so much for your feedback!
If you want to get access…
At this stage we’re keeping the test small and gathering feedback from the current group of customers trialling Monzo Plus before we roll it out any further. Please don’t reach out to COps to get access - we only have a limited number of Monzo Plus cards available, so this will remain a limited trial for now.
If you’d like to register your interest in Monzo Plus please ‘watch’ on the Making Monzo roadmap in the app. We’ll let you know as soon as we start offering Monzo Plus to more people.
So we can keep the feedback in one place, it would be great if you could post your thoughts in the original discussion thread here.