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.
Fair point, but they did commit to events (more than one), have only held one and, from their recent post, don’t currently plan to hold another. I don’t think that’s fair on those customers who have signed up.
On a separate note, I also don’t think it’s right that “early birds” can’t add the various add-ons yet. It’s all well and good discounting the monthly cost to £3 but they should be the first people given access to the additional insurance products and other benefits.
I have no problem with the concept of Monzo Plus and think it could be a fantastic packaged account. The way it’s been handled so far is substandard and paying customers deserve better. I hope they sort it out.
That’s the problem with Monzo Plus, none of it seems to have been planned or thought through.
Thanks for your thoughts everyone! To clarify, we haven’t set events aside totally. When we launched Monzo Plus a few months ago, we ran two events for early adopters before the waitlist ended. Now that the waitlist has ended and Plus is available to everyone, we’re working on some exciting product improvements (like metal cards), so we’re holding out on events right this minute.
But I’m glad to hear that you’d like to see some more and get some swag - stay tuned
I was only referring to the events. I completely agree that they’ve dropped the ball with this in general.
They should have kept the charge at the £3 level until everything was working properly, in my view.
Perhaps events not in London.
Don’t go there You’ll set me off on a rant again
To be honest, the promise of exclusive events made me sign up. As I live close to the Monzo HQ, I was particularly looking forward to these. Slightly disappointed to learn that these are supposedly not happening.
Also, I expected a little bit more than some stickers for people who order Plus cards. I decided not to order a plus card and as a result received nothing. So maybe a selection of a Monzo mug, t-shirt or other swag would have been cool.
So far a lacklustre “Plus” experience.
I understand it’s early days, but come on…
Completely agree with this, like others have pointed out was originally advertised, Monzos website clearly said Monzo Plus events and swag, So far for me Plus has been a bit of a false advertisement which I am gladly others seem to agree with, the only benefit so far is the interest on positive balances. I would also like to point out its annoying some Plus members received stickers while many did not.