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.
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
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)
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.
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
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.
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.