I’ve always had £400 on the current account. Maybe prepaid was different 
1 Like
To be honest, I think we’ll get a feature drop soon enough that will surprise us.
If it doesn’t suit now just hold out until you want to sign up for plus.
8 Likes
Nope
https://community.monzo.com/t/monzo-plus-what-would-you-like-to-see/63170/607?u=chalky
Even though it looks like you can because you can signup to the waiting list whilst in your Joint Account. Very misleading.
I think if the product was well defined and you knew exactly what you were getting for your money, then even if most people think it represents really bad value Monzo can still justify offering it. Some people will take up the offer and that’s fine.
However, in its current form, you’re signing up with a minimum commitment of a year without knowing what is going to be in the package, just some vague promises of “we’ll add more to it”. If it was another business not as well established as Monzo and I read that offer, I would think it’s a scam! It just doesn’t seem right.
What is on offer currently has next to no cost to Monzo - maybe a couple of quid for the card. They could easily have signed up a selection of users and given them Plus for free for six months, maybe charge a small fee to cover the card cost. They could then build the product out and gain valuable feedback with a closed group so that when it’s ready for launch, there’s a clear set of features and clear pricing. I think that would have avoided the negative feelings it’s generated with some of their long-time supporters and also generated some good press, as opposed to what’s currently being written about the package. The negative press could well put people off from ever considering Monzo Plus, even if it becomes much better in future. First impressions, etc.
14 Likes
Do you think it is a good business model to ask your customers to PAY YOU to do your QA? All it does is generate bad press which in turn damages the brand. Whether people are signing up or not, it is very bad business practice and feels like it was dreamt up by an intern with no business experience. Monzo has previously demonstrated they are better than that.
All that needed to be done was to select 200 people who had expressed an interest and give Monzo Plus to them for six months for free - everyone is happy.
4 Likes
But when Starling offer 0.5% on their current account, including anything in Goals, making deposit interest a paid for Plus feature looks pretty bad.
2 Likes
So to clarify you want us to pay for something other banks offer for free? The same as you want us to pay for cash deposits were other banks offer it for free?
7 Likes
Er chill. I didn’t say I liked it. I’ve been fairly clear this is a bad move.
Monzo will continue on with this because there are enough people who’ll sign up just because.
What about no base subscription (or one-off for the coloured card if people want it) and competitively priced extras? The philosophy is that you can pick and choose, and not get things in the bundle that you don’t want. Well, I don’t want a special monzo.me url, I don’t want to go to events, from the base offering I just want a Night Sky card. It’s not difficult to see that paying £36/£72 a year for a coloured card and things that I don’t need or want is absurd, to say the least.
5 Likes
Yes, I’d much prefer this model, and monzo still makes money (probably much more from all those who just want one thing), but it means plus wouldn’t really have meaning anymore.
However they could charge a bit more for plus and bundle more together with it in this model instead of a fee to access more fees - combining a base fee with extra fees is not a good idea IMO.
If it’s going to be called plus it has to offer basic monzo plus a lot more, not just a chance to spend even more money! I’m sure they’ll tweak it in time though and most people will be happy eventually.
Lovely to see a bank that cares enough to ask questions, try things out, and make mistakes in public like this. I don’t agree they shouldn’t have launched it, just because many wouldn’t buy it doesn’t mean it is worthless.
Well this is rubbish - we use Monzo for everything but all via joint acc so if we wanted to join it would be on joint account. its things like this that realy make me question why im bothering just like ifttt another great feature i can not take advantage of. thanks for your help.
The thing I think you’re conveniently skipping over because it suits you’re argument is; you’re not obligated to use Monzo or Monzo+. The best way to tell Monzo you’re not happy (rather then repeat tired rhetoric) is to not buy Monzo+ (I won’t be) and to bank your cash, or bank completely elsewhere.
Monzo are not telling you to do anything. They’re offering a service at a cost to the wider audience, this offer is not tailored to you or me, if it isn’t something that you want, then don’t support it.
7 Likes
Is there anything you feel they can do to make a it a good move?
1 Like
Unless they get rid of this base core fee, no. Fundamentally that is not a good idea.
1 Like
Then they should not ask for feedback. It is something Monzo are streets ahead over other banks with - asking for feedback. Your counter argument of “if you don’t like the product then don’t get it” is not Monzo like at all.
5 Likes
So in an ideal world what would you like to see Monzo offer?
Each thing is individual then a pick and mix style approach?
Yes. That’s called a marketplace which has always been their apparent aim.
5 Likes
Yeap, a simple marketplace where I can subscribe to what I specifically need.
5 Likes
Well, they are saying “You make Monzo, Monzo” and also that they want a product where you can pick and choose, so it would be “tailored” to you and me.
2 Likes
Monzo plus at the moment is not worth it, new card colour, meh… Events far from where I live, more meh. Swag…please.
Travel insurance is good but is that it? Most of those things are not useful to me and therefore not valued, hence not worth it. Sorry this is harsh and overly critical.
Compare this to…
First direct, their 1st account offers:
• Worldwide Travel Insurance
• Mobile Phone Insurance
• Motor Breakdown Assistance
• Waived cash fees on cash
withdrawals in foreign currency
• Leisure discounts and offers
All for £15 pound a month, add in gas and electric switching service, ISA, savings, and more things that are useful to me and I will happily pay more for them, or at least allow me to choose which benefits I want.