My point was more to raise awareness to monzo…
They might be seeing a trend of Money being pulled and thinking whats going on… this is more than likely why. They can choose what to do next themselves 
Surprised you haven’t been branded a racist yet 
[joke before anyone takes it too serious].
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Can we please not use language like that here.
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Agree.
Some of the more constructive (if that’s the word to describe them) posts can be put in the main topic below where it is being discussed more amicably and all this nonsense can be put to rest.
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Monzo isn’t exposed to the mortgage or credit business, it does have risk around overdrafts, but that is manageable within what is a significant balance sheet of money held in deposit on current accounts.
The business is well capitalised to run the business, in a lot of way they are in a much stronger position and can be far more agile to the current environment.
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I spoke to my financial adviser yesterday.
Their view is that the market will come back but could take 6 years. I’m not sure if they are being realistic or optimistic.
He did add that there was no precedent for what we are seeing as we have not seen any ing like this before.
Anyone got a view on when / if the stock market will stabilise?
On a related note i expected to see interest rates on savings accounts drop but haven’t had any notified yet. Is that just a matter of time?
Would be interested in what any financial savvy Monzo users out there think?
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They aren’t FSCS-protected are they?
Not looked into it but the point is that the rumours are a load of rubbish 
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I wouldn’t say its a load of rubbish , every business today is facing problems , they are not insurmountable problems , the rumours , false messages over WhatsApp groups can cause problems for any business , the rumours from people that have no idea of the situation aren’t great to build confidence for everybody - when each individual business is hopefully doing right by its customers and trying to survive this episode.
There are staff - lots of staff , in every one of these businesses that are trying their best in these worrying times - time to, as Martin Lewis said last night to show "forbearance "… - patient self-control; restraint and tolerance please
Drawing money out of Monzo Revolut Starling etc etc on a facebook or WhatsApp rumour exacerbates the situation - if you feel the need to withdraw some cash from your account to cover you for a couple of days fine, but dont clear it out , use your card , every one of these startup banks are honouring your payments and their responsibilities , they all carry guarantees for your money. The cops staff are all trying their best to sort out our problems when / if they occur , give them some credit , some patience , some respect , they are busy
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They aren’t, but I believe the funds are ring fenced in another bank, so should Revolut go bust, your money is technically safe.
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Depending on your age and financial situation this could be an absolute golden time to ramp up your pension contributions.
Recently the markets have been so high that I worried my pension didn’t have much room to grow so I didn’t hold much hope of building a big enough pot for retirement in 12 years. But now every 2 contributions at current market level gets me the same number of units as 3 contributions would have last month.
I can build an equivalent 18 year pension in 12 years.
however I expect the market to recover before 12 years so this is not strictly true but more of an illustration.
Alternatively, the market could keep going down. It’s too early to tell. Things that are yet to happen:
- Mass deaths in UK
- Mass deaths in USA
- Vaccine?
- Prospects of recovery?
- Impact of massive job losses and unemloyment filings
- Q1 reports
There are a lot of reasons we may not have seen the bottom yet.
Also, any money given to companies by governments in order to help them is likely to come with strings - including “No share buybacks”. That’s been a big driver behind share rises in recent years, and without it both the recovery slope and ceilings are expected to be lower.
Last I looked, US futures are back down again.
tl;dr, you may win big or you may not. No-one knows. Take advice from your financial advisor not people on the internet (and yes, ‘people on the internet’ includes me and most of what I’ve said above. It’s my opinion, please don’t mistake it for advice)
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Aren’t Monzo in a much better position than the high street? They’re already set up for remote working from home and don’t have to worry about trying to keep the costs under control for an expensive branch network.
Aside from the not being profitable yet thing, yes
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Barclays have stopped all overdraft Interest, Santander are waiving overdrafts upto £500 and reducing Interest to 19% above £500, Lloyd’s are waiving Interest on the first £500, NatWest are freezing Interest rates since before 1st April and will waive the first £500 if asked. Starling are innovating by adding the ability to have a connected card on your account which you can give to a friend or relative to allow them to buy you essentials. That’s just the tip of the iceberg.
What is Monzo doing apart from furloughing COps and making it difficult to get through to any kind of help?
Case by case - which makes a helluva lot more sense than changes across the board.
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I googled “Monzo Coronavirus” and found the answer to your question.