Here’s a crazy notion. Why not wait and see what happens? They’ll collect data and then we’ll have answers about how popular it is
16 Likes
Because then there’d be no discussion? 
That’s the point of these kind of threads.
8 Likes
Because that would be common sense… and there’s no common sense on the internets!! 
6 Likes
But Revolut’s is a complete ‘full’ product. This is literally just a trial and will likely change.
Because Revolut are burning through VC money in a Uber type way to subsidise it.
3 Likes
Correction “sensible” risk taking
i.e risk offering something that is not generic insurance
1 Like
Is it just me that would rather Monzo pulled this now, delayed it by a couple of months and tested it out with everything sorted around April-June?
It’s clear there’s appetite for some kind of Monzo Plus but people don’t want to see this kind of Monzo Plus with no value.
In my opinion, pull it now, go away, review and work hard to offer the full offering then trial it again.
*edit - while we’re at it, I don’t think it’s a good idea for everyone to be lecturing each other on “waiting” - Surely Monzo want opinions
1 Like
I know… but as you’ve constantly pointed out on this thread… comparing Monzo to the high street banks is unfair…
So I present a FinTech alternative.
Trial or not… just like I think N26 UK offering is poor.
1 Like
It’s the ‘that’s too expensive nobody will possibly sign up for that’ comments.
Same happened with the savings pots and that hasn’t exactly been a disaster
2 Likes
They do, and that’s why pulling the trial doesn’t make sense. The people on this thread represent an extremely small, self-selecting minority (72 users out of 1.5 million customers). Trials with good sample selection make much more sense.
6 Likes
To be honest - comparing it to anything right now is unfair… its not even a full/finished product. I appreciate everyone will have their opinion on what we can see right now (and have enjoyed the conversation).
But it is still a trial.
1 Like
The trouble with Monzo, and small scale launches, is that realistically you can’t get an understanding of what the market as a whole will do with the cost at this price point, without listening to as many people as you can.
The savings pots are useful for those who can afford it (or don’t just open a Marcus account), but so far very few people have said “Yep, this price point is good for me” which suggests it is over the mark and needs to change.
That feedback may not have come had this thread not existed.
4 Likes
So I got a quick quote - £16.35/month for just the two Pixels.
Not quite - they were profitable at one point, but then chose to expand internationally, which made them loss-making again.
More than that, the people on this thread appear to be 72 users commenting on something that most of us haven’t actually been offered. We may not have been offered it for a reason such that all those saying they’d never use it are, in fact, confirming the selection algorithm.
Just my opinion but then that’s all most of the rest of this discussion is anyway!
8 Likes
My understanding is less than 0.1% of our customer base are currently seeing this in the app, just for some additional context.
18 Likes
They can’t test their assumptions with no users.
It’s a trial / test now.
2 Likes
Update here:
6 Likes
@jwhiterz You beat me to it! 
Thank you all so much for your feedback - this is super helpful to shape our approach to Monzo Plus. 
Please have a look at my update on this that Jack has just reposted!
On a separate note, there were several questions regarding the incentives following the user research interview. I am really sorry for the delay with this - I have now followed up with our Finance team to check why the £30 incentives have been delayed. I’ll reach out to everyone who took part in the research separately today
15 Likes
I’m with the 99.9% for now - but looking forward to how this develops.
I still have a legacy HSBC account with an active Travel insurance, Mobile insurance and Roadside Breakdown/Assistance - for £9.95 per month. I’ve been looking to ditch this for cheaper alternatives… Seems like there may not be any.
In the many years I’ve had this cover, I’ve claimed on Travel Insurance once (Daughter had a minor accident abroad) and the Roadside Assistance once (cam belts decided they’d had enough - ouch). But it has been very simple and effective to get the help when it was needed. It does give a surprising amount of peace-of-mind.
1 Like