Monzo Premium - A Feature Wish List

Monzo ‘Premium’ should be coming in financial year 2021. So sayeth the rumour mill, and the 2020 Annual Report

“We plan to roll out another market leading premium banking product in FY2021”

What would people want to see from a Premium offering? What features would make you spend £10-£15 a month? Will this be a third tier account, or a gateway to something different entirely (Hot Coral credit card, anyone?).

My own wish-list is below. Quick covering note:

Debate around paywalling features: Personally I’d see SOME of these features rolled out to ALL tiers of accounts eventually (perhaps Premium/Plus users would simply get ‘early access’ to certain elements below) but I’d rather avoid that rabbit-hole for now and keep this feature-focussed.

Expectation management: Most of the below won’t happen, and that’s fine. Some are purposefully outlandish. I pay £13 for Nationwide’s FlexPlus and get a minority of the below, so that’s the bar for my expectations… but hopefully Monzo can work some of their magic!

The List: Feel free to vote (no vote limit) or add your own wish-list below in comments.

    • Metal card (love or loathe, had to get this out the way first!)
    • Higher Pot limit
    • Higher Virtual Card limit
    • Premium (Metal) Monzo App Icon
    • Higher overseas cash withdrawal limit
    • Earn Monzo Points
    • Phone Insurance
    • Travel Insurance
    • Gadget Insurance
    • Breakdown Cover
    • Access to ‘spaces’ i.e. WeWork, airport lounges
    • Early Bird access to events & offers (gigs, sporting events)
    • Earn Cashback
    • Better offers (gym / netflix / spotify etc.)
    • Dark Mode
    • ’Buy Now, Pay Later’ options on big purchases
    • Interest free overdrafts up to £X.
    • Earn more interest - I mention the NW Flex Plus… Until recently you could offset the £13 monthly fee by about £6 through interest. They abolished the interest, and frankly I never got near to having enough money to benefit anyway, but it was a good aspirational target to have. Tricky in the climate, I know.
    • More Third Party Integration (e.g. invest in stocks & shares through a partner at £0 / reduced fee)
    • Ability to manually add third party cards / balances where integration hasn’t happened yet (the balance wouldn’t update/refresh of course but it would be workaround until proper integration happens. The idea being you get a FULL picture of your finances, which I’d find useful. Student Finance / investments would be covered too.
    • Aggregator / Financial history (similar to Emma etc.) showing your total balance of all accounts over time (whispers… Pulse Graph 2.0)
    • Unlimited / automated ‘financial health MOT’ using insights from credit score, savings goals, Pot targets, spending habits & budgetary targets.
    • Monzo Insights - complementing the MOT, the odd ‘Did you know, 30% of your monthly spending takes places on Saturdays after 7pm’ (etc.) could be useful. I’d have this as a toggle.
    • Monthly vote for a Monzo charity donation. I’ve stolen Waitrose’ green token idea (sue me).
    • Crowdfunding round priority access (alongside existing investors).
    • Monzo Desktop/Web - with a dashboard and pre-built templates to complement the Google Sheets live data.
    • Something else completely (share below).

0 voters

I’d personally prefer a modular approach, where things like phone insurance could be purchased as add-ons, but I can see the difficulties that may pose to Monzo in any commercial discussions. Again, keen to keep this feature-focussed rather than worry about the implementation.

What do people think? Add your wish-list below.

43 posts were merged into an existing topic: Monzo Premium - coming soon?

So I tried to merge a few threads about Monzo Premium. And now I have a lot of lessons learnt.

Results are above, conversation here:

(So very sorry).

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