Monzo plus... let down again? :(

After months and months of waiting for the new Monzo plus to Be available, I’m still a little bit disappointed in the features that compare to the old one. I’m only paying £3 a month for the old Mplus I can still add my credit cards and get Still get interest across my accounts.

Has anyone else from the old Mplus upgraded?


That’s a shame.

What would make it worth it for a fiver for you?

For now. That feature is being removed, as it uses a third party, and they can do it themselves.

I made the switch from old plus to new plus, the virtual cards and were biggest thing for me.


i never signed up to plus i’m just waiting for something on par with nationwide flex plus or better until then i’ll keep that account open


Just to add an alternate view, I never signed up to the old Plus but I have signed up to this one.

Enhancing the budgeting tools through bespoke categories and splitting transactions is a key benefit for me. Yes I know it can be done through exporting data and preparing things manually, but my time is worth more than the £5/month; it’s easier seeing it all instantly as I want it in the app.


Good question, for me it’s not a case of being “let down” (I as a previous Plustomer feel like they’ve at least acknowledged the pain via the offer for two free months) but more of one of is what they are offering value for money, compared to other offerings on the market.

Honestly, I don’t currently believe it is, but am prepared to keep it for now in the hope it becomes this in the future. Paywalling features available with legacy accounts FOR FREE is not the one for me, so I hope future plus features are value adding otherwise I’m out


I totally agree. This iteration is worse for me than the first. Other than the 1% interest, why would you pay for the other stuff when you can get it free elsewhere? I have no interest in virtual cards, I check my credit score with all 3 CRA’s for free also.

I preferred the offerings of the original Plus account as it’s travel/phone/ home insurance I would like bundled.

Extra foreign ATM transactions are nice but entirely redundant at the moment. And not a chance I’d pay more for a different coloured card :joy:

Pretty disappointed with this offering indeed, looks like I’ll be keeping my bundled account with NatWest a little longer (£10 a month for travel insurance, phone insurance, free foreign transactions and cashback)

This is coming. Have a read of the announcement topic :slight_smile:


So 50% of your Natwest benefits are also redundant? You’re also paying Natwest for something you get with Monzo for free (foreign transactions)?

FWIW there’s a second tier coming soon, which will likely have travel insurance bundled. It wasn’t launched given the restrictions on travel.

I have the NatWest account purely for the phone insurance as £10 to cover an £1149 phone is the best price i could find without a crazy excess, anything else is a bonus.

Highly doubt i will get phone and travel insurance for the extra £5 a month with Monzo but we’ll see

I actually think this version of Plus is far better than the last one. It is offering enhanced budgeting features and it seems to have gone down a lot better widely than the last version.

I also don’t believe this is the final version at all, but the virus has scuppered some of the other plans , but kudos to Monzo for still getting a great product out.

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So £10 a month for insurance to cover your phone that will get a substandard repair and will take days to get. Plus an excess I expect.

You should have just got AppleCare.

(This is moot if you lose it rather than break it, I get that)


A quick check on compare the market, shows me mid range insurance for an iPhone 11 Pro priced at £70 a year for loss, theft, accidental damage, AND instant replacement. That’s £50 cheaper than Natwest, which could be used to buy travel insurance for circa £20.


I have it for the loss/theft protection as my last one was stolen and AppleCare didn’t in fact care.

It’s an iPhone pro max and also what is the excess on those policies? Difficult to compare without all the facts.
£10 a month for travel and phone insurance is a bargain plus cashback on bills and free foreign card transactions too. Yes I have Monzo for the transactions but it was great when I was in Mauritius and Monzo was down, I could use my other bank account and not worry about crazy fees.

If Monzo offered a product more suited to my needs I would ditch NatWest in a heartbeat (I can’t stand them) but for now they’re keeping my extra £10 a month

£50 excess, which appears to be half the cost of Natwest’s.

Fairly certain Natwest silver is only European cover?

The only one of those policies that is close to the cover of Nationwide is the final one at £100 - with unlimited claims per term.

Nationwide is 4x claims of up to £1500, where most in the £50-£70 mark are 1 claim per term.

If I need 4 or unlimited claims is yet to be seen, but for pricey handsets these days it’s seems a possibility.

In many peoples cases, they Nationwide policy also covers family - not sure how that factors in to the other commenters needs, but in my house it means two phones covered which I expect I couldn’t do for the same price elsewhere.


I think even if it Monzo Plus had mobile insurance for one device for let’s say, one incident a year and the excess was £100… I’d probably be ok with that

I pay £11 a month for mobile insurance at the moment and the excess is only £50 and unlimited claims (subject to the fair use or whatever policy)

My phone is covered by my home contents insurance, and I have the personal property extension thing that covers it away from the home, which added like a quid a month and also means my bike is covered.

I’ve not seen any hardcore breakdown, analysis and comparison, but I’m pretty sure mobile phone insurance is a total racket.

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