We’re ticking the first two things off the Monzo Plus roadmap today. You can now earn interest on your balance, and get exclusive offers and discounts
10% off hotels.com… just made a booking there last week haha. Noo.
But yeah loving the direction Plus is going in. I will move more money to my Monzo account now because of the interest you can gain.
Now we’re starting to get there.
Not quite at the tipping point for me, but liking the changes.
Will there be interest earned details as there is now with Savings pots?
Are the offers compatible with cashback sites, or do they work like referral links, so must be done through monzo?
Where is that?
In the blog post.
Looks great, when will the offers go live in the App, still no way to set them up
I can’t see them either. The blog post says they should be there if you go to profile -> Monzo Plus -> Manage though, as long as you’re on the latest version of the app.
The offers should appear in the app later today—we’re working on adding them to all the existing Plustomer accounts as we speak
I thought it was live in the app and I was going to say I cant see it anywhere
For those pondering: 1.5% APR means you would need a balance of a little over £4800 to pay the £6 a month charge. As the interest is limited to £4000 of your balance, this is not possible.
Once it’s added to all Plustomer accounts, it’ll look just like this screenshot, right at the top of your “What’s included” section
That’s what I was looking for, thanks. Not worth it for me then as I wont’ likely use the other features.
What it does mean though, is it’s basically £5 a month in interest with £4000 kept in, making the bare Monzo Plus a measly £1 a month, and £2 profit for those on the early bird offer.
It says you can opt out of interest in app? Where will that be based?
So… it now makes sense to always leave £4000 in your main account, rather than pots, right? 1.5% is higher than anything else Monzo have? Or is it just higher than the easy access stuff?
Will the interest be available for money in a joint account? I suspect not
Higher than easy access, so make flexible pots worthless (unless ISA for tax reasons)