In the good future, Monzo Plus is going to be all about customisation and convenience and it will definitely compete on price with the best bundled accounts in the market.
A lot of people on this thread mentioned bundled accounts from other banks. Now imagine how much better it would be if you could take away the one feature you don’t use from those bundled accounts (e.g. travel insurance from Nationwide FlexPlus because I already have travel insurance) and pay a reduced monthly fee as a result? Or conversely, imagine if your needs changed - perhaps you bought a car or a property or started a family. With Monzo Plus, you can quickly add a couple of relevant services such as insurance or roadside assistance to subscription. You won’t need to worry about whether the vendors are any good or whether you have all the information required to sign up at hand. You will effortlessly sign up for everything with a few simple taps.
The Monzo plus base subscription will have enough benefits to be worth it, but the real power will come from the optional extras. Right now there are two paid extras. in the future there will be dozens. They will be priced competitively with off-the-shelf solutions but you get added convenience and peace of mind accessing them through Monzo. We also know there is demand for different styles and kinds of cards, too. We’re experimenting with more high end finishes and even metal cards. This won’t be important to everyone, but for those who care, they will have the option to get such a card, too.
The above post is from HERE by Monzo co-founder.
Apologies for quoting people but I feel frustrated on Monzo changing their not so old position all of the sudden after users had signup to Plus. If Plus was not ready for launch and they were not clear on strategy, the whole thing should have been delayed. Monzo essentially have miss-sold and as an investor and keen user I feel let down.