They actually don’t take a cut as far as I’m aware… the 5% success fee was only brought in after 2021… " charged a 5.0% success fee if that funded company raised on Crowdcube after 01/04/2021". All of Monzo’s Crowdfunding rounds were before 2021…Unless I’m missing out another fee somewhere?
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Perhaps we could continue discussion about Crowdcube handling of shares in the event of IPO in the post-liquidity event thread. I’ve now responded to the above two posts in that thread.
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Agreed - I started that thread so i should’ve known better 
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Just finished listening to today’s episode (ep567) of No Such Thing As A Fish and the first advert was for Monzo. It was read by the hosts and I think it was a dynamically inserted so depending on where you are and when you download the episode it may not be there. Focused on pots, both being able to create an arbitrary number for budgeting and the auto-sort feature.
Same ad for me
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The numbers that reveal if Monzo Pensions is right for you
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This review is more than fair, even though the answer is ‘almost definitely not’, they’ve tried to be balanced.
They’re not wrong with the lifestyle comment, I personally dislike lifestyling for two reasons:
- It feels very much like trying to time the market, what happens if the market underperforms and they start moving your pension to “safe” assets just as the market start recovering?
- Bonds have had a terrible ride over the last decade if I recall, not sure how “safe” they are.
So yes for the pension Monzo need more choice, I wish they just did the same as they did in the s&s ISA, let me decide the risk level i am happy with - a better choice might be to give the 3 funds, cautious + balanced + adventurous and then have an option to move between them if you want. Still keeps it simple.
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Yes indeed, they’ve tried to be a bit balanced but ultimately the product doesn’t really have enough features for almost anyone. Still, they could have easily gone for a clickbaity ‘why Monzo pension is terrible’ type article.
Transferring to cash and bonds won’t suit most people for the reasons you’ve mentioned. I’ll also add there’s no option to choose a sustainable investment portfolio which is a really a shame and off putting to me.
I mean they got the customer numbers wrong (they say 7.5 million, Monzo actually has 11m customers)
They might only have 7.5 million active accounts.
11 million is just the counter for total accounts in existence, including closed.
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No it’s not. Cuz my Monzo number is #11,XXX,XXX, and I’ve had my account since May, back when they said they only had 9M people using Monzo.
@DMc1 what’s your current Monzo number? (not ad hominem)
Sorry how does that prove @Carlo1460 wrong? You might be total customer 11 million but once closed and inactive accounts are taken into account you might be active customer 7 million.
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Yes it is.
For all you know, #11,XXX,XXX -1 could have closed their account.
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The Monzo website clearly says this:
Which implies there is 11M active accounts (and also Monzo made a big deal about hitting 10M earlier this year)
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The word ‘active’ is suspiciously missing there. Don’t assume, because ‘ass’ and ‘u’…
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This has been done so many times.
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No it doesn’t.
It implies nothing.
It states there are 11 million accounts.
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Next thing you’ll be telling me you believe those are genuine Trustpilot reviews and ratings…
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I’d be surprised if even 50% of those are active.
If it includes closed accounts then at least 4 of those are mine… (queue the outrage!).
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