Monzo Plus - Small Scale Trial

(Nathan) #767

Yeah I can definitely see that.

My point was more if I was to have never heard of the two until just today Starling seems to do what Monzo does with a few more in the yes column in terms of lack of fees.

I’d like to see committed spending pots and locked pots take a higher priority. These are truly unique aspects and selling points as opposed to things like Monzo plus that will be offered but not beat the competition.

Also really like the idea of dozens and excited to see how they turn out, competition can only be a good thing among them all i suppose.

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(Simon B) #768

OK, some data I found from about 6-7 months ago would suggest that the average user who pays their salary into Monzo has a salary of roughly £30k.

I can’t imagine that’s hugely different now.

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(Jordan) #769

I see, but for me, I will never pay those fees as I don’t hit the realms of them kicking in.

I think Monzo Plus is just something that is inevitable, whether that be something everyone wants/needs or not.

Either way it will be interesting to see where it all goes from here.

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#770

Still, quite interesting that it’s so high

(Simon B) #771

I expect, like most things, there’s a small percentage of very high salary users (like £100k+) and quite a lot around £18-£20k. I haven’t drilled into the data to see it, but if you look at it that way, then £30k as an average makes sense.

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(Michael) #772

The average salary is around £26k IIRC and one might expect with a more London based and more technogically curious user base that users would slightly exceed the average in their age group

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(Michael) #773

And given that average contains a similar distribution of earnings it’s not that far off

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(Michael) #774

ps Pretty certain every one of the “Monzo in love” people so far have earned more than that…

(Nathan) #775

This only takes into account full monzo users also?

(Chris Moag) #776

Personally would love to see a pick’n mix option from the email I received today.

Travel insurance - activate only when you need it/ deactivate when you don’t

Contents insurance/ gadget insurance

Car insurance?

Cash back automatically on everyday spending

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(Tony Hoyle) #777

Can’t see car insurance happening… there’s almost no chance they could do a deal with someone that would allow them to offer it at a universally lower price than going direct.

((╯°□°)╯︵ ┻━┻) #778

Same here.

Faaaaaaaarrr too many variables to consider to be able to give a fixed price.

“Add car insurance to your Monzo plus for between £10 and £52,000 extra per month”. The latter being if I wanted insurance on a Ferrari :laughing:

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(Tony Hoyle) #779

The latter being if I wanted insurance on a Ferrari

Or, if you’re under 25, a ford escort.

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(Marcus Nailor, Hot Coral Detective) #780

There’s been some expansion on Monzo Plus in the latest Android beta :tada:

I can’t wait to see this roll out to more people :blush:

(luke dillon) #781

Personally I am not a fan of the pinky/orange card and think it would be great to have a small variety of basic colour options e.g black,grey,blue and the pinky/orange. Also think it would be really cool if there was an option to pay a small fee for the card and not subscription based and have a titanium card as these are becoming more popular and feel really premium.
Just a few ideas

(MikeF) #782

I’ve moved your post to the Monzo Plus thread where this is dicussed at very, very, very great length!

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#783

do we have any time frame about when this will be released

(MikeF) #784

It’s been released in the trial form discussed here (on a very small scale). Going forward, I haven’t seen anything to suggest whether Monzo Plus is going to remain in this form or is being modified to provide something else.

(Rob) #785

Sounds like you are describing the mean, I’ve always found median to be the preferable form of average for this sort of data

(Qais Patankar) #786

This is very unlikely.