Monzo in the media

True. This is the second time this story has been posted on the forum today

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Maybe you’re the one being too interested in the bad news and not looking at the good stuff!

another one -

It’s an interesting one.

Websites such as Vice or The Grauniad, and others, make some of their money through ad revenue. This often leads to clickbait headlines and seemingly outrageous stories in order, I suspect, to drive ad revenue.

This results in a loss of objectivity.

Why are BBC Watchdog, Resolver and The Grauniad all reporting issues with Monzo.

  • Great for ad revenue?
  • There’s actually some basis in truth for the stories?

I wonder how much is down to rapid growth of Monzo, immature internal fraud processes, customer service that can’t keep up or whether just sticking the word Monzo in the story makes for good copy?

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I still believe this just highlights other banks likelihood of having accounts open which they shouldn’t.

I always see these articles and fear a future industry wide scandal that other banks have lacked in their own safeguards with things like source of funds.

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Firstly, I don’t think these kinds of articles are that concerning, they are clearly having little to no impact on Monzo’s growth.

On this point I expect that, with some more context, it would probably be quite clear that the customer support staff were genuinely trying to be helpful in a situation where they can’t offer much.

On the flip side, what if Monzo’s fraud processes are actually the effective ones and the other banks just aren’t catching a lot of accounts that should really be closed?

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I see your point. I dare say some validity in it as well. We just don’t know. Monzo does, reportedly, seem to have lots of false positives. Again, we don’t know the numbers on either side of the coin.

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Are we considering vice journalism?

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Personally, I find it hard to imagine the context where telling a mum who needed to buy food for her child to try and find a family member to borrow money from is considered helpful.

Ahhh the joys of recycled news. It’s always the ‘bad’ articles that recirculate as they get more clicks.

Old news. Not great admittedly but let’s not make it a thing (this is a public forum after all). I doubt an article from Vice holds much sway anyway.

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‘Hi I’m a mother who needs to buy food for my child’

‘Sorry there’s nothing we can do, heres a list of helpful options that you could potentially turn to in your time of need. It includes talking to family members’

‘Thanks thats helpful’

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The Guardian is a bad example here, because of the Scott Trust. While they obvious want to write things that people will read, they generally avoid the sort of outrageously clickbaity articles that you’d find on the Times and Telegraph (indeed, one of the latter two will deliberate add Monzo mentions to online headlines of articles that actually have little to do with Monzo because they’ve identified that Monzo stories get more clicks).

Granted, the Guardian did do a poor article on Monzo recently repeating some of the inaccuracies from Resolver, but that’s actually an exception to the rest of their Monzo coverage which has been broadly positive.

Clearly from what the mother said, that wasn’t helpful.

She might not have thought so, but I think its reasonable to consider it a helpful reply!

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Would you rather Monzo just went with “Computer says ‘no’” replies in future? Because that’s the only alternative, effectively.

Remember, when accounts are frozen, Monzo cannot tell people anything because of the laws around ‘tipping off’. That means they are legally prevented from giving replies that people want (when people complain, they can be given the most helpful replies ever, but can be blind to that if it’s not what they want to hear).

In that context, offering advice on where to seek support is helpful, and far more helpful that offering nothing whatsoever at all.

Granted, Monzo COps are supposed to read the customer and gauge if they would find such advice helpful rather than offer it as rote, and that’s perhaps the only thing that went wrong here.

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A whole lot of déjà vu going on in this thread. It’s like we’ve warped back to October.

Does this mean we need to go through Christmas again?

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which ‘new features’ has monzo created which other banks do not have are you talking about?

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Pots*, get paid early*, salary sorter*, pay-from-pot*, and of course - this community*

*includes, but not limited to

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This is old news now. Probably just a re-post

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Monzo hasn’t been around that long