Monzo Priorities


(Leon) #61

No as you made a sweeping statement. They made a direct statement to you and you alone.


(Michael) #62

Well this thread is going as well as the others now then

I had not heard of Monzo (in their fully formed state) until the middle of last year. I started with Starling, but the community debacle and a gut feeling had me here. I like the way they conduct themselves, their real dedication to listening and their commendable commitment to transparency. On that basis I invested

I do not believe they are perfect, but I believe they more than any others are busting a gut to try to make this a great experience for me. You can see me on a couple of other threads being less than delighted by recent Android app builds turning off a security setting each time. I am no cheerleader or zealot regardless of my crowdfunder investing (and not investing would not stop someone from being so)


(Joe) #63

Genuinely interested in this (mainly the ‘lately’ remark). Im interested in what’s caused such a large shift in your view of Monzo in the last 2 weeks? You’ve been posting things multiple times suggesting you’re unhappy about features that have been in place for quite a while now (cash deposits, overdraft fees, e.t.c.) but also the new things such as the trials Monzo have been doing figuring out if they have viability such as Monzo plus and energy bill comparisons (very small scale trials).

However, I had a peak at your profile and you posted this just two weeks ago:

I’m also moving everything over to Monzo. After horrific experiences elsewhere, the service offered here is amazing. The app and account are brilliant and all the features are a real game changer. The customer service I can’t praise highly enough either, it’s leagues ahead of what high street banks offer and any other mobile bank as well! Monzo actually cares about its customers and will always go above and beyond to help.
Monzo is truly defining a new approach to banking and can’t wait to see how it grows this year.

This seems very positive and upbeat including comparisons to other fintechs that you’ve since made comments suggesting the opposite. I really don’t mean to witch-hunt or single you out, it’s just commentary on the scale of comments you’ve been making on a number of different threads in the last couple of days.

Was there a bad customer service experience? Or just finding out more information about other companies offerings? Genuinely interested and I think it’s fair to say it’d be useful data for Monzo.


#64

My eyes were opened more after :

1- The savings pot debacle.
2- Continual paltry responses to the PayPoint fiasco when this has been going on for months now.
3- The Monzo + trial which is nothing more than a glorified rip off aimed at fanatics.
4- Talking about imposing a fee for Post Office deposits.
5 - Seeing other companies’ offerings and realising the guff that is spouted all the time.
6- Trying to become a glorified price comparison app.


(Joe) #65

Thanks for the (slightly superfluous in language :joy:) reply.

A couple more questions if you don’t mind! Do you still use Monzo as your main bank or have you migrated fully elsewhere? Are you feeding back in a hope that the recent actions are stopped and the issues you have are resolved so you can go back to using Monzo? I’m not going to bother trying to respond to the points you made (someone else might do, but I don’t think it makes sense since it’s been mentioned before and your mind is clearly made up about this stuff) but I figure the amount of comments must be intended to spark some form of reaction :slight_smile:

Is the feeling that due to the tests that are going on with the energy comparisons and the monzo+ trial that this is probably the kind of thing monzo are going to push more and more and what you like about the app at the moment (or at least liked two weeks ago) will be ruined by it? If so I guess this is something Monzo should at least consider when doing these trials and pushing out these features as it can clearly be negative for the public image.


(Nathan) #66

I am also a crowdfunding investor but i am definitely not a yes man and in a way @camy_93 i agree with some of your points but think youre too quick to make a massive sweeping statement about monzo being amateurish.

I actually do think that monzo recently do seem to be pursuing profitability a bit too agressively and its personally left me less impressed than i was a few months ago.

  1. I was very very vocal at the fee for cash deposits, its crazy that they are the only bank to charge for this but lets not get into it again.

  2. I think the savings pot withdrawal is just poor management and isnt professional at all. I doubt that there was such a sudden surge in deposits that this couldnt and be seen well in advance

  3. Monzo plus as a concept isnt great when the marletplace should and always has been the plan, bit of mixed signals

  4. The mvp and move on principal is quite annoying me now, summary is useless, tabs/splits has so many more improvements to be made.

I made the point in the other thread that the goal for monzo last year was to build a great current account… their goal this year is to what?.. experiment? See what works?

Id rather they werent a jack of all trades but master of none.

Still think in terms of competition i like starling but dont see them adding features to sway me from monzo… dozens however looks immense


#67

I apologise for my comments in regards to crowdfunding investors - It was a poor choice of words but not every investor I feel as though are as realist as some others, and can be a bit blinkered.

I shouldn’t have made a sweeping statement, but it was said in the heat of being labelled like a troll, just for expressing discontent.

I’d have never signed up if I didn’t agree with the vision at the time.

However, I don’t apologise for any of my comments in regards to Monzo. It doesn’t feel as though there’s a clear message anymore. What started as I thought a credible and gamechanging alternative to banking is now turning extremely amateurish and trash.


(Michael) #68

Not my personal feeling, but that is a point that is worth making and would be more worthy of discussion

Getting upset about being called a troll and then saying the business is extremely amateurish and trash is the sort of thing that is not though

They’ve not lost my money. They’ve not had major outages. They’ve not gouged me for anything


#69

Have you ever needed a paper statement. I havent


#70

I think the current priority is grabbing cash wherever available. Such as £50 to refer you to octopus, then in 6 months time £50 to refer you to bulb. Not a particularly great business plan


(Nathan) #71

If they save me £££ and the switch is seamless then i wouldnt mind if they do.


#72

1- Paper Statements aren’t needed that often these days.

2- I agree with £60 for a card abroad. It’s not cheap to send them abroad via secure delivery. Also, why the heck would anybody be so stupid enough to take just one card with them? You don’t need a replacement card abroad. Lock it, get a replalcement when you get home and use your other cards. Starling shouldn’t be put out by stupidity on the fault of the customer.


(Andy) #73

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#74

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(Nick) #75

You go to the bank for a mortgage. They want to see your statements. They won’t accept the ones you’ve printed off from the internet, they want proper official bank statements from your bank. You’re with Starling and they charge you £20 for said statements. This is outrageous! Blatant profiteering! How dare they get away with it! They’re exorting a huge sum of money from a customer for something a bank should provide as standard! It’s a blatant cash grab! What a rip-off.

I do find it curious that you give Starling a pass on this when you’ve been very critical of Monzo ‘cash grabbing’ for things which are nowhere near this. (And I say that not to have a go at you - you’re entitled to your opinions - but to try and make you have another look and see if perhaps you’re not quite applying those opinions consistently.)


(Matt) #76

Didn’t you tell someone off for assuming how often someone someone needs an overdraft? Now you’re doing it about paper statements… 50p a day for an overdraft or £20 for a piece of paper… I know which is worse :sweat_smile:


#77

Hey cool it! - I don’t even have a Starling account. I just don’t believe in trash talking a business for quite valid reasoning.


#78

Last I checked though, natwest charged £5 per PAGE for replacement statements, so this is a bargain :joy:


(Matt) #79

I’m with you :+1:t4:


(Nick) #80

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