Worrying to see the references to âImproved money managementâ in the survey. I would implore Monzo to go back to the Marketplace model - for example, offer travel insurance from a variety of providers (perhaps with different cover levels) and take a Monzo cut from the price. This model seems to work well with the Savings Pots!
Hello Tom.
I want you to seriously answer something for me. Isnât Monzo Plus just a solution looking for a problem? Isnât this product just aping what legacy other banks do, rather than innovating? Youâve had to scrap the previous project, which is rather embarrassing. Why restart from the beginning without examining the premise in the first place?
The idea of a random bundle of things that you pay for undermines the value of each of those things. If you have a product to offer - like a metal card - then offer people that product, for a price. Donât bundle it with a load of stuff that they donât want. And things like bundled travel insurance undermine the marketplace side of the business, confusing the product offerings in general and confusing the consumer.
Just because the old, legacy banks do this doesnât mean that Monzo should.
Iâm currently paying for the early bird with travel insurance. Luckily the interest is covering part of it but Iâm slightly annoyed I never got an email when bundles got launched.
Hopefully 3rd time lucky
Thanks @tomdavies
Gang, itâs worth remembering weâre restarting and getting the pulse of the people who fill out these surveys and that:
Just because itâs mentioned, it doesnât mean it will be a thing
I understand that, but youâve also got to understand that even mentioning things like monetising premium support is worrying. To put it in the survey means Monzo have considered itâŚ
I tend to disagree and think advanced budgeting features (etc.) should be paid for. In the same way you pay extra for HD with Netflix you should pay for advanced features.
E.g. get 2 custom cats for free but unlimited for premium subscription.
Monzo is not a charity.
nope. Not interested in premium support.
Thatâs the whole point in having these surveys and gathering feedback though, right?
Most (if not, all) businesses will consider every option before settling on their approach, just because theyâve thought about it and are now asking the question doesnât mean anything right now imo.
Agreed on support. I believe this should be equal.
I thought it was âMaking money work for everyoneâ and not âMaking money work for people who pay extraââŚ
Well if people donât want that, go on the survey and tell them so.
âMaking money work for everyone (who can afford it).â
Here we go againâŚ
Can we keep on topic of Monzo Plus please
I realise itâs a hot subject but this isnât the thread for that! Thanks
Seconded (or thirded or whatever).
This is a great example of where the test early approach doesnât work. This isnât just âfunctionalityâ itâs a full product in its own right. Whatâs the ROI for Monzo, whatâs the ROI for the customer? If they donât work, donât offer anything and drop Plus for now.
Itâs already looking like you wonât be offering anything that breaks the âbig bankâ mould so until you crack that nut, I donât see why those of us who are paying for nothing, should continue to do so.
I really hope you can figure this out, but right now it does seem like you are still casting about for ideas/direction.
I think this has been highlighted a few times already but just wanted to add my own voice to it.
After looking at the survey I would question some of the things which are being considered for locking behind a paywall. Custom categories, advanced budgeting features, paying from pots are all things which meet Monzoâs Make money work for everyone core value so I would argue they should be available to everyone, not just those willing to pay extra.
Edit: I also saw connected credit cards was on the list too. This would really be mad as ever since Monzoâs first steps, the vision has been a hub and spoke financial control centre. At no point has it ever been touted as a paid DLC to have that sort of integration.
Completely agree with the concern over some of the potential paywall options and I voiced as much in my survey response. I hope the survey was merely speculative and not an indication of things to come.
Ultimately we are all paying customers to varying degrees already as we donât get any interest on our account balances. If the kind of functionality weâve come to expect as standard gets moved behind another paywall, itâs difficult to see what benefit Iâm getting as a customer
Thanks everyone for your comments so far. Keep them coming, your feedback is vital to getting things right this time around.
If youâre worried or concerned about some features being included or not included, please submit your ideas and feedback in the survey. We wanted to make sure we gave you the chance to share your voice on all sorts of features and products, so weâve made sure nothing has been excluded at the moment.
This x1,000,000.
And a quick note â please think about the way you write your comments in here and be as constructive as possible. You may disagree or have strong opinions (which is great), but the best way to communicate them is calmly and kindly. Imagine you were giving them to the team face-to-face
as I initially said when plus was first introduced I donât want to pay a sub to be offered services whether they are bundled or not , I would like an opportunity to purchase phone insurance , or house insurance , or car break down cover âŚetc etc etc as a one off purchase either for a two week holiday or a 1 year travel ins cover âŚa pick and mix option , I dont want to pay for the privilege, I want to see the price / and or convenience and buy it or not - I dont want to buy a bundle that only provides me with one thing out of three that I want