Monzo Plus: a fresh start with some fresh faces 👇

For some thoughts that may be more Plus specific (rather than research methodology related…):

  • Pick and mix the things I want for the length of time I want.
  • Allow insurance packages to be customisable. Especially if they are bundled - I don’t want to be under insured.
  • Management of any insurance related claims in app - The biggest gripe for me is when you get a premium account with a bank and they are like “great here’s your 12 different policy documents from 12 different providers bye”. If I can see and access it in app… Why not raise a claim in app too?
  • Ability to select personal, partner or family cover for all the things that are included.
  • I would like disposable/virtual cards for dodgy online retailers (and an inherent ability to stop those details getting updated)
  • A 2nd, non Mastercard, for travelling - I’ve had a number of mastercard acceptance issues when travelling - maybe a Travel Package could include Monzo + Visa?
  • Car-hire excess insurance
  • Perhaps, things like custom payment devices - like keyrings, fobs, etc?
  • Interest

Things I don’t want from Monzo Plus (as I believe all these should be the same for all users):

  • Features that have no cost to roll out to other users
  • Artificial limit increases - cash withdrawals, etc, or customer service priority
  • Custom Categories (one exception below)
  • Extra Privacy tools (beyond virtual cards which I expect have a running cost)
  • Exclusive Discounts - generally aren’t that good anyway, and most of the time they’re not valid for existing users, so frankly I don’t want to pay for something that I’ll never use.
  • Swag/Merch - please don’t make low quality stuff - if you do make stuff, make it to sell, and make it high quality.
  • And critical one here: Please don’t start doing trials that involve users paying for stuff if you are not clear on the business case and overall offering.

My one exception to Categories / Budgeting stuff - I think budgeting needs more work anyway to make it overall a fully charged genuine budgeting solution. I would like it to work more closely to YNAB, or at least give me the confidence to know all of my budgeting needs at a glance. If you made a true Budgeting solution, as powerful as YNAB is, I’d be happy to subscribe to that - but I think the basics need improving as they stand.