Yeah sorry, that wasn’t my intention.
3 Likes
Read some of these recent articles popping up on the back of the report and they didn’t have anything good to say then read the report and it’s not ALL that bad. Said to myself to check then the pulse on the community forum and although Monzo is not on the path I want it to be, hopefully it grows and invests where it should.
As an investor I still have hopes.
1 Like
View on MONZO IS IN SERIOUS TROUBLE - This Is Bad! - YouTube he is a bit if a end is neigh person but his points seem vaild
Using UPPER CASE in a title is always a good sign of a serious point coming
8 Likes
His points seem valid if you look at raw figures and not the explanations and context
Interest received is low ignores the fact they’ve put 3 times as much in treasury bonds so that not earning interest
Interest on lending is low as they’ve cut the amount they’ve lent by I think a third (off the top of my head) due to the pandemic
Loan interest rates increased during the pandemic. They might reduce again
Interchange being low isn’t a shock, pandemic again
The auditors risk warning… well any business won’t be able to keep going if the business plan fails. Did they say it’s going to fail? No
13 Likes
I refuse to sit through even 5 seconds of his videos now.
It’s like the Sun on steroids. Completely blown out of proportion half truths to scare people into clicking and believing his opinions disguised as facts.
7 Likes
I like that he added “this is bad” because I might not have got that context from the SERIOUS TROUBLE part of the title.
6 Likes
Not even clicking on that disaster of a link, can already tell from the comments here it’s not worth it.
Guessing it’s one of those clickbait to get me some advertising monies, thank you please.
2 Likes
He actually does a reasonable job of breaking down some parts of the report (specifically the numbers, not the text statements), you just need to ignore all the hyperbole around it.
2 Likes
Hello
Thanks for that.
I agree with other comments that he is a bit if a doom monger.
I appreciate the analysis, was more concerned than I would like to admit as a full monzo account holder.
1 Like
The field day continues 
I’m sure in a week it’ll be another victim to focus on
1 Like
Nothing like watching with an open mind, thinking critically and making your own mind up, I suppose, when you can just keep on telling yourself everyone’s out to ‘victimise’ Monzo.
The guy on the video has access to the same figures as everyone else here, obviously has knowledge of business, but draws different conclusions than those posting here. What’s wrong with that?
I find his clickbait headlines no more self-aggrandising than Monzo’s swishy website which has graphs and pie charts with absolutely no context but which is all “Monzo is doing great”.
4 Likes
Last year, hundreds of Monzo customers complained that their accounts has been closed or frozen without explanation.
But, the fact that the FCA is investigating would seem to indicate that Monzo hadn’t shut down enough accounts! It’s a bit weird to lob that fact in without context, because the majority of people will still likely read it as Monzo closing too many accounts 
9 Likes
Monzo, which was founded in 2015 and is known for its hot coral bank cards, said it was cooperating with the investigation, which was in its early stages but could lead to civil and criminal charges.
Technically I suppose an FCA investigation could lead to criminal charges. But then given some banks literally crashed the world economy and no criminal charges were filed, it feels like an unlikely consequence of what appear to be minor rule breaches at this stage.
I also find it weird they throw in press coverage about account closures as if that’s related. If anything the FCA would be worried if Monzo didn’t close enough accounts - they seem unlikely to say it was too harsh and should have been more lenient on financial crime.
6 Likes
Are his points valid though? A bad auditor report is an issue if you are relying on credit from suppliers or something like that, Monzo doesn’t seem to be so the auditor statement is more of a formality really. It amounts to the statement that if Monzo doesn’t raise capital it’ll go bankrupt, which is hardly revelatory for a startup.
I think he doesn’t quite understand what auditors assess to be honest, he seems to think it means he thinks Monzo won’t be able to raise capital but auditors don’t assess that.
3 Likes
The story definitely implies they’re being investigated for closing accounts, if not downright states it, if you just skim read it.
That story was just highlighted in my news feed… actually got me worried for a bit.
2 Likes
You have seen his CV on LinkedIn, haven’t you?
Yeah it’s an extraordinarily thin thing
1 Like
Just one of them that likes the sound of his own voice, it’s his way and no one else’s. I know for a fact if I watched it my eyes would probably roll out of my head
2 Likes
BBC picked up on it too:
Monzo bank in money laundering rules investigation Monzo bank in money laundering rules investigation - BBC News
2 Likes