Interested to see whether people would prefer a packaged account (like the Plus or Premium) that offers a bundle, some of which you might not need/use or a more Pick and Mix style account?
Acknowledging you are more likely to pay a slightly higher premium for the pick and mix style products due to the nature of the account/partnerships/deals etc.
This has been done to death. Monzo tried pick and mix and it failed horribly. They said it is difficult to implement so it’s unlikely ever to return
Agree that implementation would be very tricky.
What made it fail out of interest?
Yet lots of people seem to want that sort of offering from what I have been reading.
It was very expensive because if Monzo can’t promise x number of sign ups, they’re unlikely to get any discounts so price goes way up. Also Monzo have to contend with the difficulties of managing different minimum terms for each product etc so even if cost wasn’t an issue I don’t think they’d do it again
Monzo actually canned it all after testing it with the public.
They concluded that people found pick n mix too complicated and hard to understand
I was about to suggest a search of the forum if you want to see people’s views on this, but I see that you have already gathered a variety of opinion.
But there is a difference between people on a forum saying they want it and people in reality actually willing to pay for it.
It’s a shame because it could be simplified to make it easier for the consumer, but I think regulation and legislation requirements create the complexity as opposed to the provider. Rock and Hard Place springs to mind… 
This is so true. Some research I read indicated that people don’t seem to believe packed accounts offer value. I think they might change their mind if they tried to purchase the same level of cover as separate deals.
What will be interesting is when the industry no longer offers free banking…
Whether that is driven by zero base rate or even before that happens, feels inevtiable!
I personally don’t see how it would be complicated either but Monzo assured us that they tried all sorts of things and in their test groups people prefered packaged accounts.
Maybe one day they will revisit it but since this was fairly recent, it won’t be anytime soon unfortunately.
I think that Monzo also didn’t know how to market the bundled approach when they first launched it, which was a huge contribution I think.
Say what you want about the package this time, but they put 1000% more effort into actually advertising the thing this time around.
I think if they had spent the same time thinking about how to advertise the bundled product it would have also been successful, but the “MVP” approach let it down