Maybe the few years ago it wouldâve meant the customer had more money than them in pocket 
probably fine now
1 Like
Okay slightly different to what I imagined but still an interesting read.
3 Likes
Monzo posting on Instagram that theyâve hit 15 million customers 
Plus 1m under 16 accounts and 800k business accounts.
Will be interesting to see the deposit growth in the next accounts, there is still a huge cap between the fintechs and older banks on this but it is starting to close.
4 Likes
Someone I work with has switched to Monzo but some people still have that fear of âMonzo closing accountsâ. She was very unsure but told her if sheâs not using her account in a fraudulent way or dodgy with transactions then she will be fine haha
I love Monzo! Best bank and features !
4 Likes
Feel like this âfearâ will always exist with digital only banks because of peopleâs innate âfearâ of feeling like youâll be left with no real person to talk to face to face and get it sorted even though Monzo do offer decent support lines imo.
To most having a physical branch where you can go in to an actual person and talk to them face to face will always feel more âsecureâ even though high street banks are consistently cutting down bank clerks in branches for machines and phones to call people in a central office.
Itâs about breaking the above and showing people the same or similar results can also be achieved over the phone. Banks pushing AI doesnât help all be it Iâm not against AI if done properly but yeah thatâs my take on it, not that anyone asked
4 Likes
It reads like the 15m is inclusive of these accountsâŚ
4 Likes
Wonder how many accounts are used as a main salary account tho.
2 Likes
Iâm not an investor and I donât do Billsback or Double Payday so I have no interest in Monzoâs customer numbers and/or the diminishing odds of winning their various lotteries but it does make you wonder what they are doing behind the scenes to cope with this growth e.g. is customer service improving or is it still painful?
3 Likes
AI and outsourcing to South Africa. Cheaper labour all round.
Disappointed to see Revolut also go for expansion in India.
I think companies should have customer service explicitly in the countries they operate, especially banks.
9 Likes
Yeah saw that Revolut were expanding to India with a high percentage of their work force now working out of there. Disappointed as well at that one and agree about support being at home
2 Likes
I have had a poor poor time with Rev support when I had to use it. Getting past the ai was a pain and then I just got moved from person to person for days and very little responses.
1 Like
Typing âlive agentâ gets you through.
2 Likes
Minor point but a lottery would suggest you pay to play.
This is more a free competition.
https://www.reuters.com/business/finance/monzo-close-us-business-focus-uk-europe-2026-03-31/
British âmobile bank Monzo said on Tuesday it is exiting the United States, describing the move as a strategic decision to focus on expanding in â the UK and Europe.
âWith a fast-growing customer base of 15 million in the UK and the growth opportunity our European banking licence creates, weâre making a deliberate, strategic decision to focus on scaling in our home market and Europe âand â to step away from the US,â the company said.
The news was first reported by Bloomberg News earlier in the day.
Monzo will â stop on-boarding new customers and lay off about 50 employees, the Bloomberg report said, citing â a person familiar with the matter. Existing customers can continue to use â their accounts until June, the report added.
4 Likes
1 Like
3 Likes
That 100k wait list number is a new release. Was previously unknown/unreleased, afaik?
Big number for Ireland. Thatâs around 2.5% of the adult population.
If everyone there who wants a neo bank has Revolut already, why join Monzo waiting list, other than the power users and the curious? 100k sounds like a lot more than those niche groups.
Any Irish users care to enlighten.. is monzo dangling big carrots (incentives and referral bonuses) to get people on this wait list or is there just a big demand for a monzo there?
They had a âŹ25 sign up bonus for anyone who joined the waitlist and got invited all the way up to full launch and golden tickets which allowed people to jump the queue and get between âŹ10 and âŹ100 for both themselves and the person they referred.
So in theory signing up potentially guaranteed a âŹ25 reward if they got to position 0, the golden ticket was launched nearer the end of the waitlist period. How much that influenced people to get their friend to join vs people wanting to join of free will would be hard to know
Not totally familiar with the Irish banking system but as I understand it, banks charge a monthly fee and transaction fees - when Revolut hit the market it was the first bank that didnât and saw a huge intake of customers.
So makes sense people are now wanting to go to Monzo which may have more affinity with being a âbankâ in the UK market.