I worry about the customer perception of Monzo ripping people off by charging £6 a month for a different colour card and not much else.
Monzo’s strength is that people are generally happy to recommend it to friends as it’s a great service. If they start to feel like it’s not good value they’re not going to recommend it.
Hopefully some more good value services will be added at the basic £6 price point before too long!
Perhaps this is just another poorly executed release that should have waited 6 more months so they could release a completed product… I don’t know why Monzo insist in releasing half finished features if this is indeed just a bad mistake they’ve made.
A different colour card would interest me as I still find the joint/personal cards difficult to distinguish (even with the JA badge). Theoretically, could I sign up for one month, get my new coloured card then cancel? 
Completely agree, Monzos success so far has come from word of mouth recommendations. Not sure there will be any word of mouth recommendation for monzo plus.
I think a year or two ago someone on the forums asked how they can donate money to Monzo. It seems Monzo plus is how!
For £6 a month I’d rather go with NatWest and get 2%? cashback on my bills.
Has anyone here got access? If so, can you confirm the terms and conditions for the service, specifically minimum term, if early cancellation is possible and the state of what you get if you do cancel (early or after 12 months). Thanks.
Then don’t sign up for it seems the easiest solution
If customers value a different coloured card they now have the option
A new card, and url isn’t really a benefit, cant really say some ‘swag’ is either. For £6 per month there has to be a real financial benefit such as the travel money at the very least, and maybe a better savings rate.
At £72 a year for a new card…
Yes (or actually No since it’s only half that). If you want to spin it such that that’s still all that’s available in a year’s time, of course, feel free but I thought the limited offering was the reason for the reduced price from which I infer that something else will be around come next year’s rise.
Do we have an idea how quickly the waitlist is likely to move?
Most of the time this is a bit of an advantage to Monzo, for new functionality to be trialed with customers hopefully results in superior finished features shipped, but up until now those customers haven’t paid for the privilege.
Even in those instances there’s an argument that customers are providing free QA.
To charge customers (even if it is a reduced subscription fee) for a premium beta that doesn’t seem that premium at this point feels a bit cheeky. Maybe in 2-3 months we’ll all be here with egg on our faces wishing we’d snagged the half price deal when more features are added, but for the time being it just doesn’t seem that enticing a prospect.
Monzo needs to make money, and I may be wrong, but at the current price, I can’t see many people signing up. We want the best for Monzo and it’s users, simply having the attitude of don’t use it then doesn’t help anyone.
Maybe next we’ll get microtransactions.
Then we can pay 60p for a different colour app icon, then another 60p per animated merchant icon or maybe they throw in another £12/per month for custom merchant icons & customised transaction data so we can actually get it corrected…
Any chance that Monzo would consider Monzo Minus?
So I’d agree to not have the Pulse graph, and Monzo give me £3 per month.
Well it will because then they’ll see it’s not what people want
I dont really see the point of Monzo plus to be perfectly honest for the £3/£6 a month , I don’t want a different coloured card , I don’t ever use monzo.me - I wouldn’t want to pay the premium to then access other “benefits” .
I would pay for holiday insurance , either yearly or for one off holidays with a pro rata fee paid before I travel .
I would pay for Phone insurance / cycle insurance with a yearly fee
I would pay for share dealing in my stocks and shares ISA currently £12 a trade with Halifax if the choices of shares and funds was comprehensive
I don’t mind paying the 3% fee for over £200 ATM withdrawals abroad.
these should all bundled up in the “market place” though to pick and choose as and when needed , far better to get these things going rather than paying for a different colour card on Monzo plus
I didn’t see how many signed up to the limited test which I they took into account before launching this more widely. Do you have the numbers?
The price for a new card and a URL is very steep, even at £3. It’s nice to see that there’s feature parity in between the Joint and Personal Accounts but Joint Accounts don’t have monzo.me so you’re literally just paying for the Cards which as far as I’m aware won’t say “JOINT ACCOUNT” on them anymore?
As others have said, it concerns me that Monzo’s events are going to becoming Plus only events too.
If Cash Deposits and the additional cash abroad were thrown in for the £3/£6 then that would be a lot more compelling.
Has this been explicitly said?
Generally, I’d be up for paying for new stuff, but not to hide existing features behind a pay wall or to tier customers (prioritising Monzo Plus customers for quicker support times, for example).