Monzo premium should get insurance refund during covid

I am a long standing Monzo fanboy - but it’s starting to piss me off how much Monzo premium is for features which are unusable during covid. Travel insurance, airport lounge access and to a lesser extent mobile phone insurance are completely pointless when most of us are confined to our houses.

Please could Monzo work out how much payout is happening given the cost of this scheme and negotiate a refund from the insurance company. £5 back per month seems a sensible value if Monzo can still make a profit. Otherwise I will unfortunately have to downgrade and I feel other users will be taken for granted.

No. You signed up during the pandemic. You took the risk.


Just downgrade. You knew what you were paying for.


I may do, the bundeling of services just doesn’t make sense right now. But I don’t want Monzo to look like it can’t sell premium subscription / services. I’m in Monzo corner it just seems weird they are selling something that isn’t useful.

No, it doesn’t. So why are you paying for them?


Seems abit harsh, it depends does Monzo have its members viewpoint at heart or is it just trying to sell it anything it can, throwing shit at the wall and seeing what sticks? I wouldn’t go down the latter route as that’s what banks did with PPI - sell insurance based on fear which has poor / low payouts which was unsuitable for the customer. If the travel insurance doesn’t cover anyone during covid and payouts are close to 0 it could get in all kind of miss selling problems in the future. It’s feedback as ever - it shouldn’t take premium customers for granted.

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I like the metal card, but I will cancel soon. But downgrading will be negative customer experience for me and might turn me from fanboy to negative detractor on there NPS.

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I mean this in the nicest possible way but you’re talking complete rubbish.

They haven’t misled or miss-sold anything.

Monzo released what people were repeatedly asking for, people had to decide if it fitted with what they wanted and what they had planned, now you’re begging for a refund because you haven’t been on holiday? Didn’t you see this coming?


You’ve been able to use the metal card, phone insurance, increased interest rate, virtual cards, round ups etc. The travel features aren’t the only thing you get.

Can’t see you being able to get out of the 6 month minimum term as those restrictions were there when you signed up


I’m not begging for a refund, it’s a suggestion that they should adapt and change the premium product to keep users in the premium tier and not loose revenue / create a negative experience.

YOU created that negative experience by signing up for a service that wasn’t for you and then realising with apparent shock that it wasn’t for you.


I’ve purchased a large apple pie, I’ve eaten most of it but now I’m full. Because I can’t enjoy the rest I want a refund.

Unfortunately it doesn’t work like that.




You can try to force your opinion and bully people on the fourm but my comment is still valid from one head of product to the other Monzo product managers. This form is to collect feedback to make a good profuct for everyone - not just people who spend 365 days on form. I’m sure Monzo will notice the feedback so I’m done. Enjoy your Christmas.


I can see the point you are making, but don’t forget that the cost of Premium includes £5 for Plus benefits. So there’s only £10 left for all of the rest. If ( and it’s a very big if) Monzo could negotiate a reduction with the insurance company, and pass that on to customers, you’d be extremely lucky to see a £1 reduction.

It would be nice if Monzo made the effort, but my suspicion is, it ain’t gonna happen. If you only have Premium for the travel benefits, and you aren’t going to be travelling in the near future, I’d advise you to downgrade rather than wait for a tiny refund.

I’ve been watching a lot of Judge Judy recently :rofl: :see_no_evil: I just changed steak to pie :grin:

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That’s a fair challenge, FYI I work as head of product in a technology company and I’m from a banking baackground. I just don’t want insurance companies to profit at the expense of Monzo. I suspect the phone and travel insurance and metal card is the largest cost out of the product proposition.

They only really notice those that get 100’s of votes and unfortunately you’ve not managed to convince anyone to support your idea yet :pensive:

So you should know better TBH.

If this product existed a year ago you might have a point, but you chose to sign up in the middle of a pandemic.


Good to see someone finally admit it! If you could nudge some of your fellow fanboys who will never acknowledge they are that there’s no shame in admitting it, a lot of consciences will be a lot clearer. :see_no_evil::rofl: :stuck_out_tongue_winking_eye:

Seriously though, I can see both sides. It is ridiculous that some of the features are unusable, but as others have said you did choose to sign up with the features you now have issues with. I wonder if Monzo felt that financially they needed to launch when they did rather than delay even further for what may be another year or longer, and presumably couldn’t or didn’t want to switch the benefits for others, but it does ultimately come down to the fact that you opted in for the product so if it’s turned out not to be useful you need to opt out ASAP. The onus is on you to decide if the products the company have released is useful rather than the company to change the product to be useful to you. But I get it completely.