Monzo Plus: a fresh start with some fresh faces 👇

Worrying to see the references to “Improved money management” 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!

14 Likes

Hello Tom.

I want you to seriously answer something for me. Isn’t Monzo Plus just a solution looking for a problem? Isn’t this product just aping what legacy other banks do, rather than innovating? You’ve 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. Don’t bundle it with a load of stuff that they don’t 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 doesn’t mean that Monzo should.

57 Likes

I’m currently paying for the early bird with travel insurance. Luckily the interest is covering part of it but I’m slightly annoyed I never got an email when bundles got launched.

Hopefully 3rd time lucky

3 Likes

Thanks @tomdavies :hot_coral_heart:

Gang, it’s worth remembering we’re restarting and getting the pulse of the people who fill out these surveys and that:

Just because it’s mentioned, it doesn’t mean it will be a thing

15 Likes

I understand that, but you’ve also got to understand that even mentioning things like monetising premium support is worrying. To put it in the survey means Monzo have considered it…

25 Likes

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.

2 Likes

:crying_cat_face: nope. Not interested in premium support.

13 Likes

That’s 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 they’ve thought about it and are now asking the question doesn’t mean anything right now imo.

5 Likes

Agreed on support. I believe this should be equal.

10 Likes

I thought it was “Making money work for everyone” and not “Making money work for people who pay extra”…

24 Likes

Well if people don’t want that, go on the survey and tell them so.

4 Likes

“Making money work for everyone (who can afford it).”

12 Likes

Here we go again…:roll_eyes:

6 Likes

Can we keep on topic of Monzo Plus please :pray:

I realise it’s a hot subject but this isn’t the thread for that! Thanks :hot_coral_heart:

10 Likes

Seconded (or thirded or whatever).

This is a great example of where the test early approach doesn’t work. This isn’t just ‘functionality’ it’s a full product in its own right. What’s the ROI for Monzo, what’s the ROI for the customer? If they don’t work, don’t offer anything and drop Plus for now.

It’s already looking like you won’t be offering anything that breaks the ‘big bank’ mould so until you crack that nut, I don’t 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.

3 Likes

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 Monzo’s 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 Monzo’s 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.

30 Likes

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 don’t get any interest on our account balances. If the kind of functionality we’ve come to expect as standard gets moved behind another paywall, it’s difficult to see what benefit I’m getting as a customer

4 Likes

Thanks everyone for your comments so far. Keep them coming, your feedback is vital to getting things right this time around.

If you’re 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 we’ve made sure nothing has been excluded at the moment.

23 Likes

This x1,000,000.

And a quick note — 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 :slight_smile:

30 Likes

as I initially said when plus was first introduced I don’t 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 …etc etc etc as a one off purchase either for a two week holiday or a 1 year travel ins cover …a 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

9 Likes