Monzo - 2019 - Will it Thrive or Fail?


(All Hail the Almighty Doge) #82

Clearly it does matter seeing as you brought it up and insisted multiple times it was Barclays.


(Only available in amateur ) #83

Until cheque imaging comes in later this year. There aren’t that many cheques in comparison with other payment methods


#84

I assumed everyone knew Natwest cleared Monzo’s cheques and acted as Monzo’s correspondant bank. It has been mentioned a few times.


(Stuart) #85

Monzo needs to offer:

Real borrowing facilities
Phone service
Business Accounts with useable facilities


(Splodf) #86

First new product for me is a good rate instant access Cash ISA.

Secondly I’d like to see a good fixed rate ISA.

Thirdly more marketplace tie-ins.


#87

What do you mean by phone service?


(Stuart) #88

The ability to call to resolve a problem. As monzo grows this will be an issue. App only in my opinion isn’t sustainable 100%


(Stuart) #89

Agree better investment and saving facilities are much needed.


#90

You can already do this - check the number of your card


(Stuart) #91

My bad! :yum:

I didn’t know there was a number:)


(Splodf) #92

No one answers the phone like…but it’s there


#93

I’m pretty sure response times are super fast now they’re on top of backlog

edit: but I wouldn’t know because never feel the need to ring - in app chat ftw


(Splodf) #94

I was just humouring what I read here. I’ve never called.


(Myles Carey) #95

The problem I see for Monzo is getting inbound transfers from Europe sorted ASAP. I know multiple people who are waiting for this to happen so they can get the IBAN for their salary to come in but are becoming frustrated at how long it’s taking to shore this up. I know you can already do it but it’s not as reliable. With me changing jobs too, I’m left wondering if this will become an issue for me too.


(Splodf) #96

Why not just use TransferWise in the meantime?


(Jack) #97

It’s mostly for emergencies only, try to use the in app chat where possible is the vibe I get.


(Myles Carey) #98

No idea how I would even set this up or how it works. Has Monzo done a blog on it?


(MikeF) #100

I think trying to persuade an employer to pay you via Transferwise would be a big request to try and push through.


(Splodf) #101

Then by that reasoning, surely you’d have all of this in hand before you took a job paying in another currency?


(MikeF) #102

Some of the employers looking for IBANs for payment purposes aren’t paying in another currency by all the accounts I’ve seen on here.