My complaint with Monzo

What are you concerned about exactly?

Strongly disagree with this. If the forum community believes that then we need closing down, pronto!

Edit (now I have some time): Yes, there is some feedback potential from a tame set of customers on a forum but if taken at face value all the time, the impact on Monzo and the App could be catastrophic. We are not the core ‘basic’ users anymore and we don’t have a majority voice.

Purely personal opinion, of course, but I don’t want an app or a service built on the feedback from this place. Use it a seasoning, sure, but nothing more.

This isn’t taking away from the substance of the complaint in this thread but is more a reference to some of the more extreme (and loudly pushed) views elsewhere.

In this specific case, I’d be having kittens within the first half hour so I’m on-board with the concerns expressed.

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The same thing happened in the Starling forums where they would make a thread saying look at what we’ve just built, let us know what you think (which you read as long as it’s all positive or we’ll close or hide the thread when you aren’t looking)

You would have people that blindly loved the new feature regardless of public opinion like it was the new sliced bread, you would have people say it’s crap without giving any helpful reason, people that would say why have you spent half a year building something no one wanted whilst this, this and this could have been implemented instead, you would then have a group that actually wanted to improve the app and gave critical feedback in what was good, what was bad, what didn’t work, ideas of how it could work instead.

Of course it always turned into a massive circle like recent Monzo loans thread, the Plus thread.

You cant run a forum and just be oneway traffic starting threads otherwise in just turns sour.

The <1% of Monzo customers here are the ones that actually give a shit, and help provide incredibly powerful feedback that you just can’t get normally or buy.

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There’s some truth there but the flip side of that is that the same people are also the opinionated ones that know what they want and won’t generally accept the fact that the want isn’t universal and don’t understand that Monzo won’t (and shouldn’t) blindly do what they tell them to.

The use of the word “transparency” in a Monzo forum posts is a good indicator of this. I find it usually indicates someone who hasn’t got what they want and is looking for a stick to beat the bank with.

Extreme caution is required…

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Not with other banks it’s not. Customers need confidence that they can speak with someone when they really need to. In-app chats are proving to be inefficient with poor satisfaction from customers.

I suggested this a few weeks ago in the wake of the Monzo Plus debacle. This place has to be an unnecessary distraction for Monzo.

Indeed. Look at what happened when this place voted for the overseas ATM fees based on the three proposals given.

I think monzo are great when things are going well (thankfully most of the time).

Chat works for small queries and issues but my trust level for them to be there when i need urgent help is very low. This is a unique problem to an online online bank so in my opinion they should be going the extra mile to gain that trust and put me at ease. I cant mark new chats at the moment to be “urgent”

My main worry is around credit rating and mortgages. There is no finite answer on if being full monzo will affect both credit worthiness (due to only reporting to the one cra)

I have seen people on here thankfully mentioned that they havent had problems but id rather a response from monzo on this and personally i dont want to risk it with such a big thing :man_shrugging:

Each lender has their own criteria so monzo can’t say yes or no

But if you listen to people here then nobody seems to have had an issue

Sure people rarely put themselves in the shoes in what’s good for the majority and it’s personal to their circumstances but it’s all good feedback that should be acknowledged. When people have ideas of how something could be done it shouldn’t just be ignored, that’s got be to be frustrating and lead to a why bother. It might be an awful idea that isn’t feasible but it could be something that Monzo staff haven’t thought of which leads to improving the experience for everyone.

Doesn’t mean Monzo then need to act on it. You always get people that say it should be done this way and expect it’ll be implemented to their liking immediately. Doesn’t matter what the business is.

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It’s disappointing. And certainly a reason I wouldn’t depend on Monzo. Thanks for sharing all of this.

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I had a huge issue with Monzo when trying to transfer my house deposit. It took a lot of escalation and hard work to get anything done. The reason I didn’t leave the bank is that all the other banks are worse :sweat_smile: but on this particular issue with Barclays I would have been able to solve it in 5 mins. Hope they improve on this…

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Not a snowball’s chance in hell I’m using Monzo to move funds when we move next year. It’s not worth the stress, and it really shouldn’t be an issue.

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At least Monzo don’t charge you to move large amounts of money, even if there are more hoops to go through.

Last time I moved money in excess of the daily limit with HSBC, I had to have a 45 minute conversation with their high transfer team and pay £17 - there was no free option. They “couldn’t” use Faster Payments and BACS.

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Forum feed back is subject to the potential of Godwin’s law so should be ignored at all cost :rofl:

I completely get your frustration and the lack of ability to advance schedule limits raises seems like a big issue. If there was a general outage on that day and the support queues longer, it feels possible that your request wouldn’t have been met in time and that’s not really great. It’s also a very stressful way of dealing with it, and frankly just very customer-unfriendly.

But, I don’t really get what you are trying to achieve here. You can’t force a bank to change its product. I’m sure your initial message got through to the product teams as a suggestion, which is all you can really have hoped for. The complaints team are really there to handle individual customer cases, not deal with / respond to new feature requests, so they just did what was in their power (offer a small amount of compensation).

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This :point_up_2:t3:

FWIW there are conversations ongoing in this area and hopefully they’ll lead to some progress :blush:

I’m sorry that you don’t feel that you’ve been listened to when posting here. That’s definitely something we hope to improve.

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I thought it was obvious. Raise the profile of the issue with community members so that when it comes to others needing a raise in limits there is hopefully a better system in place to do so?

We’ll deviate here. If we cant make/help Monzo tweak and improve its products then we are all wasting our time.

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Indeed. I’m here for the journey of making a bank - but also to offer constructive challenge, ideas and feedback.

I don’t want Monzo to cater just for us forum dwellers, so they should use our feedback advisedly, but if we’re just shouting in the wind then I’d probably pack up and write poetry or something.

(I don’t write poetry)

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You can help them by making suggestions. Clearly that’s what the forum is for. And which you’ve done, and you’d actually done before you even made the complaint. What you can’t do is use the complaints procedure (and/or Twitter) to force them to make changes that you want to see…

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Two things bug me here;

1: complaints that aren’t complaints. I recently raised how shocked I was about Monzo having no process to deal with Savings interest statements (for my tax return). I was fobbed off for many weeks (Maybe even months!), then having spotted somebody on the forum managed to obtain such a document I chased them and without any intention ended up with £30 in my account, a final response to my “complaint” and an apology in chat. Now, I’m all for pleasing customers but all I wanted was that statement. I didn’t mention the word complaint, and I didn’t intend for this to end up this way. Monzo really need to be careful here because complaints should be reported to authorities - these stats are available to anyone and this is seriously going to distort the view of Monzo if they continue to take this approach. I’ve been involved in this sort of thing with another bank before and they undertook a rather rapid review of their complaints process to avoid the FCA reporting that was going to hammer them.

2: limits. Why on Earth is it not possible to do this in advance? If somebody offers this information in advance, why must they be at the mercy of chat times on the day of the transaction? We all know that this can delay things by many hours. I’ve been in a situation recently where I needed to transfer a large sum of money and there was no way I was doing this through Monzo for the very reason that this thread exists. I needed to make the transfer by midday (and it ended up having to be CHAPS due to restrictions) and it seems this would have been a gamble on my part if I relied on Monzo. This really needs to be changed. The limits are much lower than many other banks and they need to review this process.

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