82 posts were split to a new topic: Monzo Tone of Voice Updates - Discussion
Has anyone seen this article?
Quite an interesting read and one of the better written pieces I’ve seen in the press.
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Can you split off the blacklist discussion into a separate topic please.
This one is for Monzo in the Media.
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A post was merged into an existing topic: Monzo Tone of Voice Updates - Discussion
A lot of the article is very fair. They HAVE to get more people paying salaries in, 30% or whatever Of the user base is not going to cut it Then they have to up sell. I wonder for legacy banks, what percentage of current accounts have salaries going into them? Genuinely have no clue.
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Good Article, and it’s the “catch 22” situation in may ways, both for Monzo and us as customers.
I originally opened Monzo as a spending account, eventually taking the plunge to go “full monzo” (which is what Monzo needs) and was for a while.
But then I started to wonder about the sustainability and longevity of monzo, and re-opened a legacy account for savings, salary and bills, using Monzo again only for spending (Bad for Monzo)
The challenge for Monzo is to build trust in folk such as myself, which in turn would build trust in investors onwards. I hope that they will make it, but until there’s concrete proof that they will I wont go back to full monzo anyway.
PS - Yes I know the FSCS thing, and the fact that Netflix etc all are built not to make money, but Monzo is a bank. I could live with Netflix going and not paying the money to use it more than I could not being able to get to the money I have 
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I agree Monzo will need to build trust if it wants to succeed in profitability.
However, it’s somewhat hilarious that you mention “trust” and “legacy bank” together when they have a history of going bankrupt themselves 
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That’s the thing about trust though…it’s subjective and can change at any moment
I Trust my legacy bank, as I’ve been with them for 20 plus years without issue. I dont trust other legacy banks as I was caught up in a certain banks well-known IT issues, would never bank with them again
I Trust Monzo because I’m open to trying things new, but It would be perhaps foolish to put all eggs in one basket, and have only one account with either…
Your milage may vary of course
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I’d never advice anyone to have just one account for that very reason, your bank goes down… What do you do?
Personally I have 3.
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Pop the kettle on and carry on with my day at work 
Usually everything is resolved by the time the day is over and I’ll have some food and water at home so I won’t starve.
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First time I’ve seen this, worth a watch:
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I have 3 for a diffrent reason
Monzo main account
Starling for post office withdrawals or deposits (nearest ATM is alot thurther than the post office.)
Natwest legacy account i’ve had since I was 11
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The profitability aspect is something that I think about from time to time but I’ve not found an account that allows you to combine everything into one account and have pots to cover the bills.
Starling is close but the spaces feature is no where near as good as Monzo’s and the budget feature is monthly not your actual pay period.
Lots of good stuff in there, and interesting to her @anon91821566 talk about B Corp certification, and I was wondering when we might see Monzo get that stamp of approval. I know @simonb has mentioned it was an aspiration.
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“Fundamentally there’s a big opportunity in the investment market,” Leslie (pictured) told AltFi .
“It was something I was passionate about at Hargreaves, but it was difficult to enact that vision. Monzo’s plans changed, a while back they were clear they wanted to become the financial hub in people’s lives, but that doesn’t seem to be the case any more.”
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That’s a fascinating quote, thanks so much for sharing it.
I think I’ve made it clear that I’m primarily here for the financial hub model, so it’s interesting (albeit disappointing) to hear from a former employee that it doesn’t to be being pursued at the moment. I suppose only time will tell - I think the days of Tom popping on here and giving us an update are well behind us 
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Can you really poach a former employee?
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You become a former employee once poached no? 
Unless there was some time between roles?
More odd language:
One of Monzo’s former directors of product
This suggests to me, in conjunction with the above, that he had already left
Which is obviously less interesting a story for them to clickbait
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