Monzo in the media

I’ve had to reset my security questions at least three or four times. I have an old mobile phone I only keep because the First Direct app is on there and I’m too scared to disable it and set it up on my normal phone in case I answer the wrong question and have to reset everything again :joy:

:scream: That would be awkward. And now you’ve made me think that instead of looking at the other banks in town, I should open a Starling account for cheque imagine instead.

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If you’re just looking for cheque imaging I’d try the Lloyds Banking Group. They have a bigger limit (£1000) and you can also can into savings accounts. I’m not sure if you can open online, but the bigger limit really came in handy for me recently.

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You can still use in-app cheque imaging or pay cash/cheques in at a Post Office with both HSBC/FD

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I didn’t realise there was in app cheque imaging now, that’ll be down to only using the app once in a blue moon and not reading the update notices when I have to install an update.

I knew about the Post Office facility, but my local Post Office is right at the back of a deep newsagents, the sort of building I’m actively avoiding for the foreseeable future.

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Could you explain that a bit more? I don’t really see it. When banks extend a mortgage (or any loan) they create the money out of thin air (don’t take my word for it, take the Bank of England’s). So it’s pure profit from that point on.

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If only - unfortunately accounting sees the world quite differently! I’ve done my best to explain how loans (and all borrowing products) work from an accounting perspective here.

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No idea if this means another Monzo crowdfund is coming - or in fact that it ISN’T coming and this is the only way to buy in now …

In a first for Europe, Passion Capital will crowd-fund part of its new $62M fund from retail investors | TechCrunch

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A single investment is applied across all the companies under the umbrella of Passion Capital

This includes Monzo (of which I am already an investor) and Daybridge (which I would like to invest in), so…
I registered for notice of when the offer goes live, but than saw “This investment opportunity is available to high net worth and sophisticated investors only.” - I’m not in those 2 groups :cry:

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I think the high net worth/sophisticated just means you have a seedrs account.

They mentioned something about £100 being the average raise per customer in other companies and they were planning on a similar number.

These terms are defined by the FCA and have specific meanings. I think these platforms are required to get their customers to self-certify which group they belong to.

https://www.crowdcube.com/explore/investor-categories

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Yup, I’m (currently) ‘Everyday’ and so nada investment from me unfortunately.

Thank you for sharing, @davidwalton. I would otherwise have missed this. I’m definitely interested, though hope they price the round based on current valuations rather than based on the optimism that prevailed 18 months ago, when Monzo was in the news on a daily basis and Eileen on BBC Business news every month or so.

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High Net Worth Investor

An individual who had an annual income to the value of at least £100,000 and/or held net assets to the value of at least £250,000 in the preceding financial year, as defined in regulations made pursuant to the UK Financial Services and Markets Act 2000.

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My Investor profile should be ‘Scraper’ as in scraping the slot machine trays @ Blackpool Pleasure Beach arcades for left-over 10p’s so I can collect & invest about £4 in a company I think may do well :rofl:

Pre-COVID of course

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Worth noting that the Passion Capital crowdfunding only funds their third fund (Passion Capital III).

Monzo is not part of that fund, but Daybridge is (along with 10 other companies - details on the portfolio section of Passion Capital’s website). The fund is also still looking for new companies to invest in.

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Spotted this. Might interest some of you.

https://www.cityam.com/monzo-co-founder-gary-dolman-joins-tickr-as-chairman/

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A good find there. That is quite the team, they’ve done very well so far and hopefully they’ll continue to do well.

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Behind the paywall but an interesting read

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Having criticised lack of visibility of TS over here, this is excellent to see.

Do I also detect a significantly different tone from the Times, too?

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