Monzo Plus: a fresh start with some fresh faces šŸ‘‡

I think Supoort was the wrong word for me to use. But as I said above something potentially similar to what Amex do with their platinum cards etc could be an option when monzo get their normal chat in order. What that could be could be a concierge of sorts.

Again just a thought - I agree the support side of a banking app should be kept free for all, incorrect wording from when I typed my initial comparison, so I do agree that support support should be free for all.

1 Like

To paraphrase what I put in the comments at the end of the survey (which I’ve completed).

I think Monzo need to be careful here, if they are standing as the bank that will help people manage their money better, then don’t hide THOSE features behind a paywall. As has been pointed out, the survey was already skewed before anyone answered any questions.

Equally, as others have said, I think the first steps for a new Plus would be better aimed at little bonuses or things that are nice to get, or really good deals on travel insurance would be the benefits of Plus accounts which, yes, means Monzo would be stepping close to what the Big Banks do but there’s a reason for that.

And stop faffing with metal cards and what not. The majority of users don’t care (the majority of forum users don’t care!).

Bonus thought: Stop working on Plus for now. Get the budgetting, saving, core apps features working then come back to Plus. You don’t need to iterate on everything all at once.

And yes, I’ll be cancelling my Plus today.

7 Likes

Seconded. One of my suggestions in the survey was to have a good solid ā€˜basic’ app, and allow people who want more advanced YNAB style budgeting to pay for ā€˜advanced’ (I think Microsoft Money used to take this approach with more features hidden behind an ā€˜advanced’ button or something).

It would mean refocussing Monzo on budgeting more than it is at the moment but in the long run I think it’s a more compelling offer to push Monzo away from big bank thinking.

3 Likes

My question for all those of us that are still on the old one as in Ā£6 a month with just the interest and then those that are on the bundles ones…

I know you say you can cancel these but if you don’t how does that work going forward? Discount rates until you go live? Or do we just migrate to the new version etc.

As my frustrations I have stuck with you and continued to pay £6 a month just for the card and interest but I have believed something would happen and therefore not cancelled yet.

Some might think I have been a fool, but I believe in this bank but don’t want to be wasting money if things are not going to happen yet @tomdavies

1 Like

The more I think about this, the more I think you have been handed a poisoned chalice. You will NOT make Monzo Plus work at this point in time.

As a company, need to take more than a few steps back to regroup. By telling us you are working on a monthly subscription and sending out a biased survey, you have immediately failed. It will not work - period.

You can make Monzo Plus work, but not like this. Listen to your users for a change (at the moment you just pretend to). A biased survey is NOT listening to your users - don’t pretend that you are.

10 Likes

Says who?

Nearly all banks offer a premium service, including FinTechs such as Revolut, Curve, etc. and is it a core part of their income. Just like every bank out there Monzo has to make money in order for it to succeed and personally I believe if it is done right then a premium account is a great way of doing this.

I didn’t find the survey biased at all, it literally covers ALL basis which is required to understand what the customer base wants. If the survey only included insurance packages or reward offerings then it would be biased, surely?

I think people need to stop getting bogged down with what’s happened in the past, yes it was a massive fail the first time around, so what? Just like everything in life you live, you learn and you improve.

Just for clarity, I have been very vocal about the failure of Plus and have raised a complaint regarding how it’s all been handled but do I think it could work if done right? Yes. Give the team a break.

3 Likes

How much would you pay per month for all of these features?

Myself, clearly.

It is too soon - it needs a few more months for the dust to settle for for them to regroup.

Others have explained why the survey is biased, no need to go over it again. They even use Survey Monkey which would have warned them the questions were biased before it was published!

That is kind of obvious.

Hi @tomdavies :wave:,

Can I quickly just ask (in a positive way).

Why are you asking all the same questions the previous team did? I understand that you want a clean slate but nobodys needs or wants have changed from the last time.

There are several topics full of information and ideas already, they also did countless surveys too. Can you not just use this data to start reevaluating how you’re going to provide a solution? To me it seems like the process is being dragged out unnecessarily.

Also. What would be your suggestion for existing Plus customers. Should we wait? or cancel and rejoin later? Would there be any implications in doing this?

Thank you in advance :slight_smile:

17 Likes

I agree with you, If done correctly Plus can most definitely be a success.

It may have been useful for Monzo to just put Plus on a shelf for a couple of months and recalibrate a little, also allowing the forum to cool off a bit. Then come back and look at what they can offer to make Monzo Plus right.

2 Likes

This! Nothing has changed!

7 Likes

Do we know when it’ll be launching again? No.

The new team needs to ask the questions first then go away and figure out exactly what they are going to do, when they should launch etc. What’s the point in waiting a few months before asking the same questions as they are now? I’m pretty sure the feedback would be no different.

They already asked them twice and ignored them. The replies aren’t going to be different.

3 Likes

It’s a completely different team; yes they could read back through old threads but there’s no harm in asking the question again via survey to easily see a report of responses. There is also 3 million customers out there who aren’t on this forum.

The community isn’t the be all and end all of Monzo and gathering customer feedback, I’m sure the smoke test they are completing will be sent to thousands of customers who have never heard of Plus. Okay, the forum feedback may remain the same but there’s plenty more voices out there that need to be heard.

1 Like

FYI the last team sent out surveys too :slight_smile:

Asking completely different questions.

The surveys were pretty similar. The ā€œtestā€ thingys they sent out were almost identical, whereby you had to sort various things by priority and importance.

At least Monzo are asking for feedback to help them improve, a lot of companies don’t bother and only rely on complaints made.

By asking for feedback, Monzo can like others companies that regularly ask for feedback can nip potential problems etc before them get too bad or add/improve things to keep them on top of the competition

I rather they continue to do this than not ask anything and presume everything to cosy etc

1 Like

They were also only shown to 5 people which is the reason the last version failed dramatically.

All I’m trying to get at here is that the team need a break, the decision has been made that a premium account is the way forward and 11 people have been set the task to achieve it.

They’ve come to the community first to inform us and get our opinions (which is exactly what everyone was screaming for the first time around) and all I’m seeing is ā€˜this will not work’ ā€˜you might as well give up now’, it’s not constructive and quite frustrating for me to read as customer, let alone one of the team. :man_facepalming:

Imagine if they just went silent for 3 months and came back with an offering that no one had seen or be asked about? We’d have the Bundles launch all over again.

2 Likes

I think a lot of companies would use external research agencies, using market insight data and somewhat anonymised.

Not saying that Monzo aren’t doing that - but I think most big companies would used standardised research methodologies about consumer insights

1 Like