Monzo's Gambling Block mentioned in This Is Money


(Jack) #1

Thought others might be interested in this article I found at lunch. It says that Starling released the Gambling Block feature first but I thought it was on a ‘soft release’ at Monzo before Starling announced it?

Edit: Not that who released first is the important point of course :slight_smile:

Edit 2: Looks like there are a few errors in this article. I also didn’t know that this website was part of the Daily Mail group (only just started using it recently). Could the two be related… :thinking:


#2

It does frustrate me when I see the pushing for ‘first bank’ title, but I’ve built a bridge. Good read, few incorrect points but least it’s giving the feature a bit of a push for new users.


(Jack) #3

Yeah totally agree, quite a few errors in there. Especially this:

Monzo meanwhile allows users to block gambling transactions at any time by contacting their customer service team through its in-app chat feature.


(Danny) #4

lol what


(Jack) #5

Did a little digging and I think he might be referring to this:

Challenger bank Monzo has seen its losses more than quadruple in its first full year with a banking licence, with the majority of its current account customers not using it as their primary account.

The start-up, which issues luminous pink coloured debit cards, saw overall losses in the 12 months to February rocket to £33.1million from £7.9million, its annual report revealed this morning.

The figures show that customer deposits were £71.2million, the equivalent of less than £150 per account.