Monzo Plus - Weekly Update 27 September 2019 šŸ“£

I just saw this great infographic on data fallacies, Iā€™m not saying this is happening with Monzo but with all the research going on around Plus I thought it was a fascinating little read :+1:

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Itā€™s a shame that question didnā€™t allow multiple answers.

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Iā€™ll be extremely sad if monzo points becomes a monzo plus only feature.

Iā€™m liking these updates for sure! I feel a bit more in the loop about whatā€™s going on now with Monzo Plus.

Iā€™m still paying my early bird Ā£3 per month at the minute, though I think Iā€™ll chat to Monzo about cancelling it for now until I have the option to test/opt for the newer version(s) as and when they become available.

Iā€™ve done the survey, however I thought Iā€™d link to one of my previous posts in another thread about Monzo Plus about some of the features I thought might be a good idea :blush:

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So this new thread thing is a litte tiresome, but anyway.

If Monzo are serious about their social mission then features that help users understand money and budgeting better must be in the core app, likewise Iā€™d argue that if Monzo are serious about being a bank for everyone then thereā€™s a moral argument against offering premium customer service. @tom The only real thing that me, broke guy in the Midlands has in common with many wealthier customers is that customer service is currently dreadful for us all. I want that to change, but not by someone buying there way to the front of the queue.

@tomdavies As someone who loves to try new things and still wants to support/champion Monzo Iā€™m keen to see them get a premium offering right, metal cards are great for people who like a card pis*ing contest, but there isnā€™t really any value for the customer.other than smugness is there? If someone wants to pay Ā£15 a month for that then good for them, but many employee reward schemes have a pick and mix approach to benefits that might be useful at some tier of membership and possibly offer tangible value. That said, given the data monzo have Iā€™m surprised they donā€™t already know what we want, there must be a brand preference amongst monzo customers, although I imagine it starts to waver out of the m25 and over age demographics.

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So Iā€™ve only just seen this, and coincidentally today is also when the next Ā£3 was taken out of my account for Plus.
So obviously Iā€™m a bit annoyed that thereā€™s been no communication in the app about this.

Not everyone uses these forums so how would a general person know of these updates?

I tried to go onto the Chat in the app, and the waiting time is 3 hours.

This simply isnā€™t good @tomdavies.

Iā€™d like to be contacted about this, and if Plus is indeed being rebooted, Iā€™d like a refund for past Ā£3 charges too, alongside todayā€™s.

And can there at least be a pop-up or notification from the app about this?

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It remains a mystery to me that we donā€™t get more in-app messages as it is the one place that, presumably, ALL customers would see.

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Yeah, the quality of the cards now is terrible. A metal card really wouldnā€™t make me feel ā€œsmugā€, I would want one because it would hopefully last longer. Iā€™ve had a few replacements because ccv rubbed off, contactless stopped working and one warped in the heat this summer.

Hello mate. We have a ballpark idea around the ROI and financials we want to achieve but the main goal for us is adoption. We want to build something that people get value out of.

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Hey Rob. Weā€™ll be starting with a new thread each week. It helps keep the conversation relevant and avoids the updates getting lost in a 1000+ comment thread over time.

We take the top themes and ideas from the thread each week and use that to inform our work thereafter. So itā€™s also easier for us to keep the feedback loop short from customers to product.

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You should be getting an email today or tomorrow with a full breakdown of whatā€™s happening. You can also follow along in Legacy Monzo Plus Issues

I think youā€™re going to love the ones weā€™re working onā€¦

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Donā€™t jinx it :see_no_evil:

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For anyone whoā€™s interested, the Plus fiasco made it to the latest 11FS Fintech podcast (https://podcasts.apple.com/gb/podcast/fintech-insider-by-11-fs/id1134439359#episodeGuid=019fc1cc-485e-461e-98eb-96c7dfba5b92, start from 21:02)

Apologies to Androiders but you can get this in your podcast app of choice.

Some of the feedback from panellists, both from old and this podcast, paraphrased a bit:

Launching Plus wasnā€™t a ā€œMonzoā€ thing to do/felt out of character.
Pulling it is cutting off one of their main sources of revenue.
Each Monzo customer is worth approx Ā£1.5k based on valuation.
A subscription model comes across as we need cash quickly, so pulling it says actually we donā€™t need cash that quickly.
The panellists questioned the value of a bundled subscription.
Monzo was praised for pulling the Plus product as doing this is a gutsy move. No mention however from the panellists about the botched handling recently.

Are we talking the brightest Coral ever somehow blended with a cute Raccoon meme? If notā€¦

I donā€™t want to give too much away, but yes, there will be 2-3 raccoons on either side.

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Strong design choice.

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Do you know, it hadnā€™t occurred to me that people might want a metal card simply because the current plus ones love dissolving.

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Please email these updates to Plus customers at the same time as posting them to the community pages. Its a product we are paying for and we should be informed of updates as they are made and should not have to rely on checking the community pages.

I only just heard that Monzo Plus was cancelled because I received an email with absolutely no context saying that the terms had changed. I then searched online to see if there had been more updates and then found out it had all been cancelled.

Letā€™s not have another Monzo Plus v2 communication fiasco

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I think this sort of update is a prime candidate for the in app notification.

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