New to Monzo Plus: interest on your money and exclusive discounts 🎈

I agree and that was my feedback on the questionnaire they sent out. Perhaps their target demographic differs from what I have always perceived? They may well be trying to move away from “that bank you can get a top up card from”.

But you’re quite right I’ve not seen those numbers since I bought and sold my place with my ex wife… But I’m sure that’ll all change soon :smiley::smiley::smiley:

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Might be the cynic in me but maybe it looks better to have a larger amount bear interest. I think the average amount held is probably nearer £1,000 than £4,000 so they’d technically be paying less out in interest (business decision).

It also gets past (although still a paid package account) of “Monzo doesn’t pay interest”.

I still overall think it is a weird decision.

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70% of 0 is still 0 :rofl:


For the user sure! But the tag-line may arguably look better from Monzo’s perspective.

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For those who have mentioned travel insurance and covering couples through a joint account package elsewhere. The Monzo travel insurance with AXA does cover the entire household (family) and not just the individual who purchases the Plus and Insurance.

So it can be comparable to a joint account benefit elsewhere. Also, when it was £7 a month for Plus and travel insurance it was actually pretty good because a similar Worldwide travel insurance package with AXA direct is between £100 - £150 when I got a quote for me and my wife in our 30’s.


Let’s put this rip off charge into perspective here. It’s a minimum £72 a year, plus all extras you need to get what ‘you’ want for ‘your’ account. Interest of £4000 will make £60 a year, so you are paying £12 just to be a Plus customer with no added extras apart from getting interest, cus the other basic benefits are a waste of time for me. Taking into account interest earned on my money in Nationwide, my FlexPlus benefits cost me £84 a year. Until Monzo beat what I get with my FlexPlus account then they are not worth investing in. (


To be clear, Monzo Plus is not an investment. It’s a purchase.

Investment in Monzo is not an option at the moment unless they decide to run another crowdfunding round.


whilst I agree with you about the plus offering at present being not worth it for me personally also , and fortunately with Monzo I have a choice whether I sign up to it , or not , would you consider the Nationwide flex plus debit card non sterling transaction fee abroad a “rip off” at 2.75% or good value ?



After the latest iOS update and seemingly still no ‘interest earned’ style function for current accounts & standard pots showing, is there any update on this?

I always check the daily interest of my easy access savings pot, it’s strangely an incentive to save, even if it only early 20 odd pence a day!


Emphasis on the, for me. If something doesn’t suit your needs then obviously it isn’t worth you investing much into it but at the same time no one is forcing you to pay for it :man_shrugging:

If your FlexPlus account does what you need then you should definitely stick with it. Looking at FlexPlus, that would be a “rip off charge” for me at £13/m because I don’t care for mobile insurance, breakdown cover, etc. The Santander 123 account is better for me due to the cashback on purchases and interest on up to £20k. For smaller savings, I’m using the First Direct regular saver because it’s 5% interest on regular deposits up for £3,600 for the first year and it has no fee. So I guess what I’m saying is, just use whatever works for you :slight_smile:


Do Monzo include anything similar to this:

The definition of pedantic, if ever I’ve seen it. :man_facepalming:t2:

Thx for the info about First Direct. I am going to look into that. I too, use Santander for the same reasons as you, however I had not seen the First Direct account.
FlexPlus ends up being £84 as the interest covers the rest.
Yes, that is why I made sure to state, ‘for me’ in my comment. :slight_smile:

I would agree that is a rip off at 2.75%, however, I am one of the few ppl left who still has their very old Nationwide Gold credit card and so there is no fee at all. Online when I purchase stuff, it is 1% only. When I use it online to buy great gear in USD or Euro.
Edit - there is no sterling transaction fee at all, the VISA exchange rate is what gets adjusted by that 1% I mention above.

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You’d be surprised at what some people think they’re paying for when they buy something. The number of times internet complaints revolve around ‘I invested in your company and…’ when all they did was buy something.

I’ve learned over the years that this is something worth being clear about.

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They have plans to add mobile insurance so I imagine gadget cover will come in time.