Monzo in the Media

Googled ‘artisanal flour’.

The first result included the sentence:

if you are going to make artisan bread then a great place to start is with artisan flour

I had to laugh.

Still. Part of me wishes that everyone had a favourite artisan flour they just had to have. Maybe then there’d be some more of the normal stuff in the supermarket for me. (Also, yeast. Still can’t buy any for love or money round here.)

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Your research wasn’t very thorough - sourdough doesn’t use yeast.

that may explain some of the things that get stuck in your teeth from Toms bread :slight_smile:

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Soda bread is the answer.

https://cookingonabootstrap.com/2019/11/04/soda-bread-recipe-2/

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At the bottom of an article about companies to avoid because of their response to the Covid-19 pandemic, Monzo is the only company called out at the end as a positive example of how companies can respond :hot_coral_heart:

It would be remiss not to mention that there have been many companies who have responded in positive ways as well. At Monzo, for example, senior management and the board have volunteered to take a 25% salary cut and the CEO has announced that he won’t take a salary at all for the next 12 months.

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That article is mostly bullshit. I’ve just read through it and they’re just slamming everyone and everything they can.

The part about Monzo is fair enough. Is Monzo not furloughing any workers? I hadn’t realised.

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Yes they are, but volunteers only I believe.

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This is also my understanding.

Furloughing employees shouldn’t be considered a negative - demand in so many businesses has collapsed virtually overnight and without furloughing we’d potentially be looking at massive redundancies instead.

What’s more interesting to me is large, profitable companies that are refusing to pay the 20% of their employees salaries not covered by the government.

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I’m surprised they didn’t single out Admiral Insurance for some praise. They are giving £25 back to their car and van insurance customers; presumably hoping to reap the rewards at renewal time.

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So does this mean initial tests/results have gone well in the US?

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The number of :monzo: sign-ups has definately slowed, but overall is still increasing;
https://bankstats.joecarter.xyz/d/000000001/monzo-current-acc?refresh=5m&orgId=1

Hardly unexpected at this point in time.

With no incentives either to switch to Monzo, that’s excellent work!

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The net gain of 20,843 accounts meant that Monzo has become the most popular bank for switching for the first time.
Nationwide Building Society had a net gain of 14,959 accounts in the final quarter of 2019, followed closely by Lloyds Bank with a net increase of 13,243 customers.

:raised_hands:

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Yeah definitely an outstanding result for Monzo.

Nationwide were getting crunched before coronavirus (whether they were optimising for profitability or just couldn’t afford it anymore only they will know), pulling back on all their benefits and getting more expensive and less attractive for people to use, and Monzo have just rocked up with no advertising and no bribes to take the crown from them as most switched to bank :sunglasses:

More signs that :monzo: is going to be a huge bank in a few years.

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As a Nationwide member, I would say they seemed to be going back to basics like mortgages and more basic current accounts. I don’t think Nationwide should be an organisation that puts profits first, it should be about remembering that they are a mutual and not a bank.