As a matter of genuine interest, what would you expect to get from these events?
Well as they were given as an apparent perk to early adopters I did actually expect the events to be a sort of roadshow, small get–togethers across the UK to gather early feedback on the Plus product from people who wanted to use it. Hell staff could’ve even given out some of the phantom ‘merch’
By “Geez” giving Monzo time, the longer events don’t materialise the more and more those perks become bad value for money because Monzo runs out of time in my year subscription for me to take advantage of them.
Thanks for your question. At the moment, we’re not planning on any more Monzo Plus events in the London HQ. We might host more of the online Q&A livestreams that we did last month though.
I’d be really interested to hear what you’d like to get out of a Monzo Plus event, if we were to host another one. What kind of content or event would make it worthwhile for you?
For £3 (or £6) per month, weren’t people promised a different coloured debit card (questionable quality), merch (stickers) and invitations to exclusive Monzo Plus events? And now it turns out that it was a one-off event?!
Here’s what was advertised on the blog:
Here’s what you’ll get today, as part of the core bundle:
- A new Monzo Plus card (in a choice of Hot Coral or one of our new colours, Midnight Sky or Lagoon Blue)
- A custom Monzo.me link
- Exclusive access to Monzo Plus events and swag
I wonder if Monzo can fairly say that, with regards to the last point, early adopters received these.
Like I said earlier, it borders on false advertising.
So, I can’t say there was one thing in particular I was looking for. Certainly a chance to see the office and meet some of the people behind Monzo, and find out more about how things work in general.
I guess also the events also just come with the undeniable superiority boost that monzo plus brings overall - with 2.5 million using monzo some of us want another way to stand out! So it adds to that…
As raised on this thread, some merch at the events would be nice, and maybe events along the lines of existing ones that are open to all, but just for monzo plus users. Oh and a chance to feed back on monzo plus of course!
I’ve had zero swag too
Hi @Sheri, I say this with the best of intentions (as a “full Monzo” customer), but when a pretty big chunk of the new “premium” Monzo service is touted as “Exclusive swag and Events”, it implies that these events have already been thought about and potentially planned.
There has been a lot of talk about “worth” and how certain things hold different values to different people, but as of right now, it would appear that Monzo feels a custom URL and a suspiciously poor quality coloured card is worth £72 per year?
If the advertised swag (which has since been clarified, doesn’t exist), and exclusive events (which have been put to one side), came to fruition, there could be some justification over the price tag.
For me, Monzo plus feels incredibly deceptive right now, and I’d personally be very wary of trusting Monzo with future promises.
The vast majority (I’d imagine) of Plus customers are likely to be big “fans” of the bank. The kind of people who would genuinely love the opportunity to visit a Monzo exclusive event, and even receive a small amount of “swag” - Whatever that may be.
I personally think Monzo should reconsider these events, because if I’d just committed to £72 for a Custom url, coloured card, swag and events… and only received half of that… I’d be super disappointed.
whilst I agree with most of your comments regarding Monzo plus ‘benefits’ , does Monzo plus not open up things like more money available to withdraw abroad , travel insurance …etc ?? rather than just a monzo me and ‘special’ card , of course at additional cost … I would as Ive said prefer to see these add on benefits open to everybody to pick and choose what account benefit they want at a cost rather than having to shell out £70 + the cost of the benefit - to me that would gain far more income for Monzo
I see what you are saying, but those are all additional costs, or things that can easily be had for free elsewhere (like foreign withdrawals and 1.5% interest).
When you look at other packaged accounts, the value is usually better than you can get elsewhere (obviously some exceptions, but it’s generally regarded that these packages can be loss leaders for the banks).
The “core” of Monzo plus costs £72 and offers virtually nothing (url and card).
If it was £72 with 6 events and swag at each event, despite not going for it personally, I could see why people would.
yes I could see that some would want to attend these events , but maybe that would account for 1% of the customer base ( who knows how many ) whereas if relatively competitive phone , or house insurance was available without being a club member and paying the fee - that would , I assume appeal to a lot more people from the user base ?
Maybe time for a Monzo re think and reimburse Monzo plus customers and make the insurance offerings/ travel money increase available to all on a weekly / monthly / yearly basis ? after all it would only be a financial hub for all if everybody can access the offers ? I personally wouldn’t want to pay the 70 quid to access the offers , but I could see me using them if the offers were available to all
Oh 100%. I just assumed that Monzo Plus wouldn’t change it’s structure!
Agree that it would be great to be accessible to everyone!
presumably most people that joined Monzo plus didn’t either
I like the idea but I can’t see it happening
Every day I see someone new on here that has signed up, and that’s just the ones we know about. The last update we had was that 11,000 had subscribed, so it would set them in a big hole if they had to start refunding that amount of people. No doubt it has grown loads since then too.
So on paper it appears to be working for Monzo but it would be interesting to see the figures next year when people are out of their contracts.
OK - 11000 out of 2.6 m - if the offers of phone insurance and house insurance etc etc were an open offer to all how many would you guess would take them up as a pick and mix option , always assuming a relatively competitive price - I have no idea , but could take a relatively conservative guess at 5 % or more ???
Oh yeah I weren’t arguing that point. More that I can’t see them issuing refunds when it appears to be going well for them and subscriptions are healthy and rising
Don’t rock the boat and all that.
They might not have any option but to refund customers if the FCA get involved. I said some time ago that this has FCA complaint written all over it.
The original deal for £6, dropped to £3 for early birds when people aired their feelings on the price, was for a custom URL, different coloured card, merch and events (plural). Customers have coughed up the cash but Monzo haven’t provided the promised benefits.
I’m very surprised to read that there are no more events planned, considering this is something that they can effectively do for free.
Yet. I guess they have until the anniversary of the opening of Monzo Plus to comply.
Surely not?! If I signed up to FlexPlus and the advertised mobile phone insurance wasn’t provided, I’d have a legitimate complaint. Providing cover 364 days after I signed up wouldn’t get Nationwide off the hook!
I don’t think that comparison holds water. I think it’s pretty obvious how insurance is a different kettle of fish to events and merch.
Insurance obviously needs to be present 24/7/365 to get its value. You won’t be at an event 24/7/365.
Monzo also didn’t commit to any specific amount of events. Whereas insurance is obviously a commitment to protecting your items continuously.