I just switched the 16yo to Monzo from Barclays and the 14yo can just wait 2 years.
Revolut is free too (and Hyperjar) but I’ve not found any that really cut it. They all lack something. And if nothing else, my youngest feels left out because he’s the only one who doesn’t ‘kerching’!
Hey, forget Monzo me. I just ‘kerchinged!’
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Not sure what you mean?
Ah I see. Thats cool. I thought you meant I had got it wrong and they could get accounts from 15 not 16
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I don’t think we should expect much today since it’s a bank holiday weekend ahead unless they just opt for an announcement.
I just noticed that the travel insurance on Premium includes car rental excess cover up to £3000. Was this always included or is it new?
It’s one thing FlexPlus doesn’t have.
It still doesn’t make Premium better value for money than FlexPlus but it’s nice to see a (new?) feature.
It’s been there for as long as I remember… And that reminds me I need to book a car for holiday time 
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That’s weird. Mine has switched the other way (from old layout to new layout) since yesterday’s update:
Mine too!
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Have to admit I’ve just cancelled the current Plus after having it for a few years.
It was a borderline decision and I might rejoin if the offering is revamped, but the main reasons were:
- Slightly higher interest rate is nice, but third party savings pots match or even beat the 4.6% rate currently offered.
- Virtual cards are a slight benefit, particularly the ability to pay monthly bills from a dedicated card linked to a pot. But in the round, these expenses were a small part of my overall spend so it didn’t seem worth paying to keep them ringfenced in a bills pot.
- The lack of support for joint accounts. We run the bulk of our expenses through the joint account so the benefits were only applying to a minority of transactions.
- I occasionally used the connected accounts. But I run nil balances on credit cards so it didn’t really add much insight.
Interested to see what the revised offering has in future.
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I slightly with regret downgraded after holding on to possibly an update coming to the accounts soon… I’ll keep an eye on this thread though.
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I got access myself, its a lot better but I think the white space could be reduced a bit and condensed a bit.
I don’t disagree. I love the look and feel of the Monzo app mainly, but it’s dormant and likely will remain that way.
I do occasionally get tempted back, but currently being able to get travel insurance for free with HSBC amongst decent savings rates means there’s no inertia.
That may change depending on whatever the revised offerings are, if they ever come.
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One of the things that I think might be quite interesting is if Monzo decided to go down a full premium model - so like HSBC Premium, where actually some of the benefits are related to income?
So plus - paid for added value
Max - paid for insurances etc.
Premium - minimum income requirement with added discounts for stuff
(obviously I am not making any statements whether these type of premium accounts are good or fair or anything, just thinking about what other banks do.)
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It’s certainly an avenue that I’d have interest in, there’s no pull factor to Monzo for me since why would I pay for insurance which I get for free.
The opposite is true, if they removed it (HSBC) I’d likely reevaluate
This is a great idea. I think being full Monzo and paying in a salary every month should offer free benefits.
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Giving away things for free to the people most likely to pay is a great business model.
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This. I know everyone keeps talking about joint account parity so it’s just another echo in the chamber, but running most of your expenses through a joint account means you don’t get to enjoy Plus benefits like custom categories and virtual cards etc. I hope we can get something on that soon.
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Not going to happen™
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