Monzo “Matryoshka Market”

Monzo “Matryoshka Market”

Precis – I’m bored at the moment (I’m waiting for some references so that I can start graduate study) So I decided to try, and redesign Monzo Plus rather than just complain about it. (I don’t like the current iteration/ideas being thrown about not they’re no ambitious enough and I have no use of them)

Design Philosophy – Just like Russian Nesting dolls these Markets are designed to fit inside each other. :dolls:

Basic Staples(Free for everyone)
As we discuss things, I’m going to move things around so they make more sense(Here is where everything that’s default should go)

Custom Pot images – Personally I’m not bothered but I know that it’s a thing that some people want

Price Points

£5 – All of Monzo Market

£20 – A choice of

  • All of Monzo Market
  • 3 from the Insurance Market
  • 1 from Market Services or the ability to add travel and Winter sports


  • All of Monzo Market
  • 4 from the insurance Market
  • 2 from Market Services or More Insurance Market Products

Discounted depending whether you’re a shareholder or have your salary paid into Monzo((Would only be implemented when IBAN etc is enabled as doing it this way would obviously be discriminatory to those who would love to their salary paid in but can’t) and probably about 5%

Clearly, all ball mark figures I have literally no idea if you could run a profit of this

Monzo Market

In this Jar contains everything that Monzo could and should logically be developing/ have developed/are cheap to develop (The opensource software is out there it just needs to be integrated)

Card- Metal or different colour (One of the Monzo logo colours):monzo:

IFTTT triggers (if statements etc) – I know from reading the IFTTT literature that Monzo would have to pay for IF statements. The IFTTT triggers would be:

  • Account
  • Pots
  • Email (for PDF receipt uploads)

To name but a few

Emojis on the Monzo forum?! – Not useful but I thought a bit of fun plus uber cheap to code

More than Ten Pots- I don’t use Pots but again I know that some people use them a lot and need more than ten

Uploading Receipts as PDF- I have no idea why you can only upload pictures and I think this could be useful for business accounts as well + general people for QR codes for flights etc.

Taking pictures of receipts and converting them – I have had a play with this using tesseract and it is possible and then I found that it is possible with Google lens. A google lens integration would probably involve paying for the privilege personalisation – Thought this was cool, but I genuinely have no use of it.

Paying in a cheque via a photo- Its coming but I think it should be chargeable (I don’t know if Monzo gets charged every time it would be used) Freepost would still be available

Cash deposit fee waiver and increased – I think now this needs to be improved there are several reasons why people are still paid in cash. I think a fee waiver would make sense but also an increase amount as they are theoretically paying the cost to process it

Emergency money from an ATM- This might be expensive to do (I literally have no idea how you would implement it)

Integrated savings- Integrations with savings platforms such as Marcus

Market Insurance

The insurance Jar is where all the various types of Insurance go just to give them a space to be a buffet. I.e. to pick the ones that work for you/ the time you need it. You don’t need Winter Sports in the Summer unless you’re going to the southern Hemisphere

Personal – Some People need it

Health – With the current state of the NHS etc. I’m beginning to think that this is unfortunately becoming a necessity. If this would be implemented I would like the ability to add extra people on it (a discount if they have a Monzo account)

Technology – Well everybody needs it especially when you have a Monzo account

Contents Insurance – I would like to see a specialisation into cheaper shared house/rental property contents insurance as well as normal contents insurance as some Monzos demographic may rent

Car Insurance – Another necessity

House – As people need it for both living and rent.:house:

Travel – I would like to see a specialisation into travel insurance that takes into account health requirements/health needs as that type of insurance is expensive and everybody should be able to see the world… :world_map:

Winter Sports – because going down a hill strapped to a piece of metal is fun sport :ski:

Market Services

I think this would be truly be unique to Monzo and it would not be directly competing with legacy banks (the dangers of MVP design). It would also fit with Monzo’s philosophy

Money – I think this advisory Service that could be most beneficial to Monzo and its customers. Access to an advisory Service that could help you plan your money etc. I believe that there are government advisors, but I don’t know if I high number of customers would mean paying. Alternatively, money is given to a charity that advises on Money therefore Monzo customers get something truly unique and the charity has more money so everybody wins.:moneybag::money_with_wings:

House Rental etc. – House renting and letting out is difficult. Its nice to have an Ace in your back pocket for when things are stressful. It would be nice to have access to a housing service that could advice you on a rental contract or how to draft one or disputes.:house_with_garden::angry:

Psychological – This a difficult one as I’m not sure how you would implement it. I’m not sure of the validity of therapy apps. But I think it would be something to work on so that everyone has someone to speak to when they need to :smiling_face_with_three_hearts:

EDX/other learning platforms – HAVE YOU SEEN HOW EXPENSIVE THEY ARE?! In all seriousness I thought this would be a good thing to have access to you either because you are interested in learning or because you want to empower yourself and get a new job. :nerd_face:

Some of the ideas are pretty good but I think the day Monzo start charging to have custom pot images there will be a revolution! On saying that, I thought the idea of having more than 10 pots as effectively a paid extra was a good idea.

There is too much variability in things like car insurance to be able to offer them packaged like this (I’ve been driving for what feels like a hundred years so have pretty low insurance, 17 year olds on the other hand…).

I like the idea that things happen when you have multiple things from the market though:
3 market items - unlocks additional pots
4 market items - special app icon
5 market items - socks
6 market items - Tom sends you a card on your birthday…
7 market items - CEO for the day
8 market items - you now own Monzo


Yeah I hadn’t thought of that but that sounds like an excellent idea

The current limit is 20 pots i believe.

Welll if Monzo went the whole multiple market thing every 5 items or something could unlock another 5 pots

I think paying for features in the app, despite them being aesthetics, would be a bad move - I’m not going to start paying a monthly fee just to view MY image against MY pot in MY account… so yea, I guess I would be classed as being part of that revolution.

But in all seriousness, the nicer the experience is then the better the growth, so app improvements should be rolled out to all.


Yeah, good point. I’ll edit my original post and move to a class of things called Basic Staples