Monzo Plus and Premium (2020) for Joint Accounts

Up to £180…
This is how Monzo treat existing Premium and loan customers…. No loyalty at all

That’s not how loyalty works. Do you want the bonus backdating to when you got a loan?

Do you want Tesco to give you 50p because they’ve just reduced the price of fuel compared to when you filled up?

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Why backwards ? From day they introduced cashback.
They advertised this as Premium benefit not loan

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It is a premium benefit, when you take out a loan. Not money if you’ve ever had a loan.

I’m currently have a loan with Monzo.
Even Barclays started to pay rewards for loans, insurances for ALL existing Blue Rewards customers.
I can agree with you if I applied for a loan without Premium subscription… and then joined Premium and asked for a cashback.

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I think they should pay existing loan customers the cashback for a 12 month period, it is advertised as a premium benefit in app. It’s peanuts compared to what they make on loan but would be a nice goodwill gesture. I can also see where revels is coming from, it’s like a sign up bonus, (more common with a credit card) and therefore not for existing customers.

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Upto £60 plus
Upto £180 premium

It’s based on a remaining percentage of your loan balance at each month interval and capped at those, can’t recall what the % was exactly.

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2% for premium if I remember correctly. I aint done the sums could work out at free plus/premium for the 12 months for some people with a large loan.

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I’d like to take out a new loan to pay off my existing loan. At the same interest rate too. Possible?

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Rates are variable, and for any new loans, a new assessment is made on eligibility.

I’m not 100% on the specifics but your rate for your new loan will likely differ, as you’d have your current loan included on your checks and affordability as an active creditor to consider.

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My post was slightly scratch that, totally tongue-in-cheek, as a half-arsed attempt at a middle-ground solution for current loan’ers to be able to take up the new cashback offer.

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I kinda guessed you were tongue cheek but some people aren’t as fun :joy:

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Noticed the cheapest rates are now 6.3% rather than 4.7%. Not sure if that’s related or just down to the recent market volatility though?

I have a joint account.

The killer feature for me is Pots with virtual cards.

Monzo Plus for Joint Accounts can’t come soon enough to enable me to Pay online via a virtual card from a pot.

creating pots with my wife to organise money against things like Groceries and then using those pots with virtual cards during the month - it’s sad this is currently out of reach.

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Hi @opticalview & welcome :wave:

If you haven’t already voted - vote for this feature by clicking/tapping on the topic title at the top of the display, this zooms you to the very top (or just manually scroll to the very top), then click/tap on the blue ‘Vote’ button at the top-left.

No guarantee that the feature will ever be implemented, but a large number of voters helps to keep attention on the request…

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This is now the most voted for feature EVER

Come On :monzo: - sort it out & deliver.

download

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