Monzo Plus - Bi-Weekly Update 28th November 2019

[Jackcrwhitney (Jack)]

Monzo Tall Current Account
Monzo Grande Current Account
Monzo Venti Current Account

In all seriousness I’m going to give this some thought…

[gmclean]

Nice to get an update even if it’s a bit lacking in content.

• Investor labels - ehhh big whoop (but I get why some people want the badge)
• Paywalling - others already pointed out, you’ve not talked about the features of Plus, only the products of Plus. Interesting but not particularly forthcoming
• Card Packaging - so glad to read this kind of thinking! No plastic, recyclable materials only please!
• Name our accounts - given you may want to add other paid accounts, realistically the only thing here is One Two Three… can’t do Gold, Silver, Bronze because you don’t want a product called Magnesium in four years time, can’t do Diamond, Emerald, Ruby because you don’t want a product called Zirconia, and so on.

Anyway, I get that sometimes it can be hard to find things to update on this, that’s cool, so let’s see what the next one is (it’s two a week, right? ).

[StuartL (Stuart)]

@Addzy

I think they probably do realise it’s a very fine line they are going to be treading, so best to be confident in your decisions before letting the wolf pack pounce on you

Perhaps but in that case I’d say they should already be somewhat confident before even floating the idea of a paywall. Seems like they are putting the horse before the cart if that’s not the case.

[tbutz (🏳️‍🌈 Producer of "low value commentary")]

@tomdavies

We need to name our three accounts

In this day and age, it’s all about the emojis. Regular text is just so yesterday!

Monzo Current Account
Monzo Current Account
Monzo Current Account

[Jackcrwhitney (Jack)]

One thing… we’re all presuming that one of the paid accounts will be better than the other…
They could offer totally different things so giving them names implying the one is “better” may not work…

Having more details would help.

[Rat_au_van (Em)]

Monzo Skint Current Account
Monzo Ok Current account
Monzo Baller Current Account

[gmclean]

I actually thought about this as a serious suggestion… but yeah that’s just a minefield!

[alexs (Alex Sherwood)]

@tomdavies

Thanks for all your comments on our paywalling principles. We definitely understand the concern around how we define a ‘power user’. We’re still working on these definitions but we wanted to share some of our early thinking while we develop this.

We believe that regardless of the feature-set, we can take the core values of what people love about Monzo and ensure they’re threaded through all of our products, whether that’s personal, business, paid, or free. How customers experience those values at different levels may change, but the values won’t. For example, we know customers feel a sense of peace of mind using Monzo. For a free current account customer that looks like great customer support and visibility into your spend. For a paid customer that might mean things like travel insurance.

This is even more vague than ‘power user’ in my opinion so I guess I’ll just have to keep an open mind until you’ve announced the paid features.

[tesrobinson (Tom Robinson)]

Thanks for the update @tomdavies, lots of interesting things here.

@tomdavies

For a free current account customer that looks like great customer support and visibility into your spend. For a paid customer that might mean things like travel insurance.

One thing I am still a little confused on though is your comment on the Paywalling. I think I am correcting in saying that the vast majority of the concerns shared are with the idea of paywalling software/app based features e.g. custom categories, pot limits, budgeting, salary sweeping etc.

The example you quote here - travel insurance - is something I think we all agree should be something we pay for in a paid account.

Can you provide any further information on the principles of paywalling when it comes to software/app based features and how you plan to balance the view of “Power Users” and “Making Money Work for Everyone”

Thanks!

[TheMullinator (Dandy Borehole)]

Monzo Current Account

Monzo Bit Current Account

Monzo Byte Current Account

Nonsense to those who don’t know but expandable.

[gmclean]

I mega like this suggestion

[krr13]

I’m not a fan of words like “plus” “pro” or “extra” etc. I much prefer a name that links with the theme of that account.

[tesrobinson (Tom Robinson)]

Alvin…
Simon…
Theodore…

[Rat_au_van (Em)]

Snap Crackle and Pop or Rod, Jane and Freddy

[tesrobinson (Tom Robinson)]

The Good
The Bad
The Ugly… (paywalling)

[DanielRivers (Daniel Rivers - Monzo Premium)]

I have to say, considering excuse for going every 2 weeks was so there was more substantial updates, this was so light in content that is almost weightless and floating.

I am not saying need to share everything, but hmm… yea.

Investors badge: ok …
Paywalling: just recapping whats already been discussed
Packaging: eco … great, I like, but lets see some pics
Name accounts: You gave up so let us choose.

All of this could have been achieved in hour long meeting.

I don’t want to sound unappreciative, but remember the old plus accounts went south because of lack of the expected Monzo transparency… This is looking like a big blacked out window

[Paulw (Paul)]

Thanks for the update.

Monzo Hot Coral Current Account
Monzo Blue Coral Current Account
Monzo Black Coral Current Account

The bottom two are actual coral species.

[gmclean]

This would seem the most viable way to do it, just pick a colour per account (does mean you’d have to stop offering customers their choice of colours but can’t have everything?!)

[StuartL (Stuart)]

@DanielRivers

I don’t want to sound unappreciative, but remember the old plus accounts went south because of lack of the expected Monzo transparency… This is looking like a big blacked out window

I got the impression they wanted us to help black out the window.

“Let them distract each other and make the thread look busy by getting them to suggest account names, while they don’t get an answer to one of their biggest concerns.”

Maybe I’m just being overly cynical. I want to be optimistic, I really do.

[Peter_G]

@tomdavies

The names can’t be things like “One, Two, Three”: in the future we may add in other paid accounts.

… Four?