Monzo switching bonus

Monzo Chat
1

So how long has this been a thing and how many users benefit?

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2

Who would of thought it I didnā€™t even know this was a thing I have some accounts that I donā€™t even use anymore and just feel to switch them over just to close and see if I get the bonus.

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3

Yeah I saw this on Twitter the other day. I switched fully over last week but didnā€™t receive anything :frowning_face:

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4

Itā€™s a new one on me.

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5

Is that real? Iā€™ve never seen or heard anything about itā€¦ I have my suspicions.

6

Probably part of the A/B testing so some get it and others donā€™t

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7

Maybe, but itā€™s never been mentioned as ā€˜a thingā€™ which would surprise me.

8

Monzo replied to it on Twitter in an official manner, so yes.

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9

Iā€™ve been with Monzo since the pre-paid days, and have been #FullMonzo since the beta current account - 12 months or so nowā€¦

I think I share the views of a few other members here; Monzo previously said they didnā€™t need to offer these types of incentive to switch and this (Switching Bonus) along with the Paid Referrals has left a bit of a bad taste.

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10

So itā€™s this official? As in, everyone will get this if they switch?

11

No, nothing has been said.

Probably not.

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12

Who knows, part of the problem is thereā€™s been no official communication on it really, best guesses are that theyā€™re doing A/B testing and seeing what results they get before a full roll out

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13

Itā€™s probably just an experiment so I wouldnā€™t read into it too much right now, Monzo runs loads of experiments.

It might stick around, it might get culled. I guess it depends whether Monzo see any positive impact.

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14

Is such a major incentive fair when only a few get it and others donā€™t who have switched at exactly the same time? Ā£5 referral bonus is one thing but that was clearly communicated to the forum

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15

If this is real, it hardly seems fair to those that have been with Monzo for months or even years.

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16

Here is the original tweet

and Monzo commented;

Seriously Monzo Why? :man_facepalming: and Why itā€™s not been openly announcedā€¦ Itā€™s OK if you want to go this route but at least be open about it. :face_with_raised_eyebrow:

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17

Fairness, transparencyā€¦ All words that Monzo claim to represent.

I donā€™t think its fair.

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18

I feel very strongly that this is completely unfair if it is not available to everyone. Why should some people automatically be gifted with Ā£50 and others not? For some people that is a huge sum of money. It is especially annoying when you spend time trying to get people to sign up and putting the hard graft in with your friends, only to find other people not having to do anything and it being incentivised.

I switched recently and made a jokey comment about how I would probably miss out on a switching bonus, and someone responded saying that wouldnā€™t happen. Well it hasā€¦

My partner has a current account but no option to get Ā£50 for switching, and I know for a fact that he would switch if that option was there. Is it all completely random?! He is now going to hold off switching because it looks as though at some point people will get money for doing it.

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19

I deliberately left off the persons name and photo for privacy reasons

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20

Not private if itā€™s not Twitterā€¦

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