Digging up an old thread I know but would really like this for my personal account. Do we know if there is a reason it’s only for business customers at the moment?
(🏳️🌈 Tangfastics addict since 2017 #TeamSunshine)
Of course there’s a reason. We just don’t know what it is.
I can hazard a guess that the business customers are most likely paying a fee for the account, so providing parity with what you’d have with any high street bank online access (for business customers) is a priority; once it’s all bedded-in and finished, then they might try and do the same for personal customers (pointless doing it too soon or you end up having to duplicate everything). That’s all purely guesswork, though, as Monzo have been quite coy about this.
It was mentioned in one of the earlier posts, but partly this will be due to preparing for the additional load. Monzo only launched Business accounts in March, at the time having only 2500 private test users. Even with phenomenal growth they will have a tiny number of accounts (let’s say 100,000 new business customers in the last 6 months) compared to the 4,000,000+ personal account users. The server and performance requirements will be vastly different between those.