Yikes… well, uhm… awkward.
From what I could deduce from skimming several days worth of posts it appears Monzo have done the usual we’re sorry PR but doesn’t intend to change course unless the bottom line changes?
@anon91821566 has remained disappointingly quiet? as far as I could see. However, It’s earthquake events like these that really begin to upset the customer base, Monzo needs to remind itself of its roots and fast.
Monzo, you’re supposed to be a challenger bank. When there is clear discontent, on such scale, with part of your product, the right thing to do is listen and act accordingly. The bottom line is irrelevant if you alienate the customer base you’ve worked so hard to build.
All it takes is for a bank to come along, implement everything you already have, and everything which you’ve failed to deliver, and do it better… Monzo challenged the High Street Banks, is a Monzo challenger really that difficult to envisage?
Monzo needs a USP, it needs an edge. If you’re not the bank of the future, delivering for the majority of your customers, what is your USP?
As for any customers that are upset with Monzo, you have the right to complain and to a final response. If you’re dissatisfied with Monzo’s response then you have the right to complain to FOS - they’re a bit backlogged at the moment but they will assess your complaint on its merits and investigate if they deem there to be a case.
Monzo doesn’t do everything right, and Monzo sometimes fails to see the errors of its ways. As someone who has successfully challenged Monzo, with FOS, on another matter, I can say they do tend to take complaints ruled against them rather seriously.
Unfortunately, external scrutiny is sometimes the only way to draw the attention of senior management within an organisation.
Lastly, please keep it respectful. These discussions can get a little out of hand, and yes, they can be frustrating but the point can get lost and that’s counter-productive.
