Monzo Current Account Counter

Cool! Do I get the £300k then?! :wink:

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Over 7000 new activations today :tada:

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I think Monzo should make a countdown ‘accounts left’ counter so we can see the final accounts changing to current accounts (or being closed).

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I would like them to prioritise this over ApplePay. Some of us just want to watch the world burn :smiling_imp:

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Yes - a decreasing counter of prepaids, and a count of the current queue would be fun

We have around 244k account left to upgrade.

I have no idea if we have plans to make a countdown, but I love this idea. :chart_with_downwards_trend:

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Hopefully the only time you’ll ever use that icon :wink:

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We should place bets on how many will be left at the end. I say 73000. You should also wallpaper HQ with their names :stuck_out_tongue_winking_eye:

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Down to about 225k now :tada:

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Looks like we have around 50,000 more current account activations in the last 10 days, that’s pretty awesome growth!

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@BethS & @simonb lets hope the pace keeps up!

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I reckon about 100k… it’ll slow down as it gets down to users who won’t move for various reasons or simply don’t use the card any more. That’s still a pretty fantastic conversion rate though…

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There seems to be a slight lag this week vs previous weeks though - 1 or 2k less per day. Perhaps you’re now scraping the barrel for prepaid upgrades? :face_with_raised_eyebrow:

Any sneak peaks on how Monzo are going to grow beyond a bank most people have never heard of? Surely now that Monzo has staff solely responsible for growth it will be more than word of mouth and there will be a few more tricks up your sleeve? Any tv campaigns etc?

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That’s a very big barrel :sweat_smile:

I expect the growth team will be more focused on developing the product, than marketing. That’s usually how it works & would explain why you’ve got people like Jordan in the growth team -

I’m the Product Manager for growth, which covers anything related to expanding the number of customers we have. It also means doing things like encouraging people to activate their cards, to use Monzo more regularly, or to refer their friends.

The Product team at Monzo is currently split into two parts: growth and retention. Each half isn’t equally weighted, and the focus on each changes according to our goals as a company.

Growth doesn’t just mean trying to build our user base and bring Monzo to more and more new people. At the moment, it means making sure all our existing users are able to upgrade their accounts.

Once that’s done, things will really start to get exciting!

Golden tickets have worked really well so far, but they are also quite restricted: you can only invite one person per ticket, that person has to sign up before you’re given a new one, and you have to wait a while before you’re given your first golden ticket. I’m excited about building a better version that will help us spread the word about Monzo as far and wide as possible!

We’ll then be able start finding new ways to help people use Monzo as their primary bank account, or educating people about particular features so they can take advantage of everything Monzo has to offer.

although he is quite good at Twitter too :wink:

Anyway, maybe that means less ads & more cool stuff for us :tada: although I’d like to see what they’re planning on the marketing side too.

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350,000 current accounts by the end of the day, I reckon, which by anyone’s measure is awesome.

I was reminded, recently, that I once had a Zurich Bank account, and I found the following link - when this bank was launched in 2002, they aimed for 300,000 customers in five years so :monzo: Monzo is smashing it. They were competing with the first wave of e-banks: Egg, Cahoot, Intelligent Finance, First-e, and Smile, and the details about cheque guarantee cards, interest and the hesitancy around internet banking is like something out of a time capsule.

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What’s a cheque guarantee card?

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:rofl: I didn’t realise I was this old

If you took an imprint of a debit card it guaranteed the cheque for the account would be honoured.

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But… why not just pay with the debit card?

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Because at the time people still preferred to pay by cheque. Was only really chip and pin that saw a faster decline for cheques.

Crazy. I do remember seeing signs years ago about the cheque guarantee scheme being closed, and all the supermarkets had signs saying they would accept cheques anymore… I thought it strange anyone would want to pay with a cheque in the first place.

Guess I’m younger than I thought. Although, in saying that, I do still remember VCRs. And Nokia phones.