I’m aware the value in Monzo Plus is in having a whole collection of features in a convenient place. That being said, I’m also interested what in your opinion is the single most appealing feature in Monzo Plus?
See other accounts in Monzo
1% Interest on your balance and regular Pots
Holographic card
Custom categories plus divide payments into multiple categories
Virtual cards
Advanced roundups
Credit Tracker
Retailer Offers
Fee-free withdrawals abroad - Up to £400 free every 30 days
Auto-export transaction - Live updates to Google Sheets
1 free cash deposit a month at PayPoints across the UK
I’ve gone for virtual cards, with the hope that they will be improved to link them to pots/have their own spending limits, etc. I know they’re looking into this, but that there are regulatory hurdles to get them there.
If I had to vote for the least appealing feature, the retailer offers or the credit tracker would be fighting it out.
I voted account aggregation. That’s the feature in the package that’s most likely to get me interested in paying.
However I’ve just tried Plus and am a bit underwhelmed by the account aggregation in its current form. It shows basic balances and transactions from other accounts but from presentation/analysis perspective none of the bells and whistles of other aggregators like transaction enrichment, notes, categorisation, transaction search, spending analytics, and budgeting. Hopefully that will come with time. To be fair to Monzo it does seem to have focussed on payment initiation aspect of open banking, which works well and is not common elsewhere. Unfortunately for me that’s just not an aspect I’m particularly interested in.
The enhanced categorisation features on the Monzo account and virtual cards look good, but again not something I feel I need.
I’ll probably cancel before the cooling off period and await improvement to account aggregation before taking another look in a few months.
For me this was a toss up between virtual cards and custom categories with transaction splitting.
I went with virtual cards because of the way Monzo have designed and implemented them. There is so much potential for expansion and feature sets that would be easy to implement into Monzo’s UI design (though perhaps not so easy on the backend) and we’ve already seen a good number of suggestions from users here such as pot linking, self destructing cards, freezing controls, among a few others. And someone from Monzo has picked up on a couple as a clear next step for Virtual cards, which shows they’re listening and planning to add more over time.
I went for custom categories personally because I think it’s the most polished feature, and definitely a useful one to keep a better record of your spending.
You can see massive potential for the account aggregation for when more join the list (though it’s still very handy for me considering 2 of my less used credit cards out of 4 are on there to keep an eye on… Here’s hoping for Amex soon ) so I’m looking forward to what comes next on there.
Just getting used to virtual cards which is another great feature. Although you can’t use it for contactless with Google Pay or Apple Pay, which is fine, it works a treat with Curve and PayPal (saves having to update your card with them every time you get a new one and have to go through the small charges they make to verify the card on each occasion!) I know it’s another layer on top of another, but I like security
For a fiver a month, I don’t think it’s anything to grumble at in my opinion
It seems top three most selected features and their order is stable regardless of whether community is asked to pick one most appealing feature (this thread) or top three features (a different thread)
Virtual cards
Categorisation enhancements
Connected accounts
In both threads the 4th, 5th, and 6th most common picks are auto-export transactions, holographic cards, and in-credit interest, but the order varies between polls. When asked to pick single most appealing feature (this poll) a similar number of people pick each of these features (6 to 7% each). But when allowed to pick top 3 features (other thread) in-credit interest appears in a lot more people’s top 3 (42%) than auto-export (14%) and holographic cards (25%).
I usually love messing around with data and I can see all the cool things people have been doing with it but I haven’t actually found anything useful that I can use it for (yet)
Surprised that % interest features so little here. I would move to a rudimental basic account so long as there was a better than most interest account on savings.
) so I’m looking forward to what comes next on there.
