Monzo Staff Weekly Q&A - Annual Report Edition!

@joey100 to clarify if you’re paying your Amex card off by entering the long card number etc rather than bank transfer Monzo make money from this, so more transactions would be better no?

Also didn’t think of that, I bank transfer to clear my credit card as it clears balance within the hour !

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Thanks all! This was really fun and the questions were great. Happy to answer any further questions haphazardly over the week :slight_smile:

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we still have costs associated with all transactions and it just depends on how it nets out :slight_smile: like the Point of Sale stuff where we make a little money on card purchases, we also do still pay some Mastercard fees on this

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This has to be the most information heavy Q&A to date! Absolutely amazing stuff.

Massive shout-out to @tristan and @joey100 for being amazing! It’s been a phenomenal Q&A session!

#SummerofMonzo

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Not really my position to suggest changing your mission statement but it definitely seems like this sentence is closer to what you were aiming at than the rather nebulous “Monzo makes money work for everyone”. I recon you’re better off with “Monzo takes the stress out of money”, or perhaps the more positive “Monzo puts you in control of your money”. But, yeah, what do I know.

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Hi @tristan are you able to provide any insight as to what the current active user rate is and how this is calculated? :slight_smile:

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:heart:

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