Having human support is simply a cost of doing business.
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They made a profit in 2015
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They have human support, as you know. But having maximum human support at the expense of being viable: definitely not a cost of doing business, unless you want your business to fail.
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I don’t think the support is the issue, it’s finding it and getting to talk to someone rather than being fobbed off.
You should 100% have to search first and try and self solve. But if the article doesn’t solve your issue there needs to be an out, something else.
“Did this solve your issue?”
NO!
“How about this? Have you tried this? Or talk to support”
And not
“Did this solve your issue?”
NO!
“Thanks :)”
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Support should NEVER be made deliberately difficult to access once you have followed a self service flow. It is staggering that people can think differently to that.
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It’s staggering that you think anyone was arguing that.
Other than you, nobody was. And by the way, some people are deaf and blind.
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Nowhere did I say “bury support”, and that’s a strawman anyway. If you actually check I said “less support”; people have to endure wait times a little longer and stop chucking their toys out of their prams. Monzo’s on the ropes, there’s a global pandemic, a global recession, and more to come.
Get. Some. Perspective.
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I think it’s actually two different issues and Monzo are failing too often at both of them
One, as you say, is the difficulty that most customers will now face in initially locating in-app support.
The second, for those who do find it, is the poor quality of support often experienced including multiple hand-offs, continual escalation to “specialists” and what comes across as a lack of ownership of issues at Monzo’s end.
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The WeWork attempted IPO last year has made people look more at financials with IPO’s. I’m not saying it isn’t possible though.
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I agree but if you burn your customers with inadequate support for too long, they’ll go else where.
I know there are lots of loyal people on here but that’s not necessarily completely reflective of their entire customer base.
It is good to see Monzo finally moving forward eg the launch of Plus but other banks have moved further forward and with more innovation and a smaller customer base.
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WeWork was a bizarre situation. They masqueraded as a tech company and were pumped up by Softbank against all reason. Quite mad.
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It may have been a weird situation but WeWorks path to profitability was key in its failure to IPO and the investors backing out. Monzo already has a question mark in this area. But again, you never know.
Except everyone is cutting staff.
No, not everyone is cutting staff, in fact some companies have been recruiting, including in the financial sector.
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I was making the point that customer service has to be improved, or else Monzo will lose customers.
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Why are you making things up?
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I see there has been a lot of discussion on this here - sorry for the confusion
I just wanted to clarify that to me the best way out is an IPO. I’d love to see Monzo stay an independent company and I wouldn’t want our culture to change too much by an acquisition.
This may very well not be the case and I am sure senior leadership and VCs have their own opinion on the topic.
Only the future can tell 
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An IPO could be followed by an acquisition if the new investors/owners are offered enough money.
I mean… VC and investors want to realise their value at some point; that implies a realisation event at some point, either structured as an IPO, SPAC, or buy out (or bringing on new investors at some point). Eventually it’s just going to happen or the company would fold.
Haven’t looked at the numbers, but suspect the largest retail banks would have massive incentive to buy the product platform. Comes down to who wants to get into technologically literate retail banking and what pressure on Monzo to sell from investors / cashflow pov.
What a community forum of hyper engaged users think is neither here nor there really. The number of people on this will be vanishingly small compared to the user base who mostly won’t notice or care.
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