There’s lots of threads on individual ideas, but it can be hard to try and determine what matters to certain types of customers from that. I’m wondering if anyone else has a personal idea wishlist? It can be things planned or not planned. Here’s mine, in no particular order:
Android Pay and Apple Pay automatic update when card is re-issued (pretty standard, and surprising Monzo doesn’t do) to allow continued spending before replacement arrives, and ability to have these based on a virtual PAN with no physical card link (i.e. you could have web and mobile payments with no physical card).
More granular control over security risk items (e.g. turn on/off ATM withdrawals period, POS magstripe, POS contactless magstripe, CVM fallback [both PIN bypass - commonly attempted in the US by some merchant types without your authorisation, and a few get angry when a card declines because they did this, and fallback when offline PIN is blocked and you’re abroad and can’t reset the PIN try counter]).
Reset PIN try counter by issuer script (use 2. to allow a fallback transaction, and send a script to reset the PIN try counter so a British ATM isn’t needed).
API data on CVM used, entry method, authorisation response, etc.
Given that three of my eightnine are related to making sure you have continual card access (1-3 all help with that, and 2 also helps with security), I’d say that’s probably the number one area Monzo and the like can really improve. No FTF is great, but the reality is you have to travel with a lot of cards because cards aren’t the most reliable thing, and if they do get blocked can be useless the rest of the trip. 1-3 would help a lot with that.
Mine would be pretty similar in terms of the tech stuff, but I would love to see more detail on transactions - which CVM used, etc - ideally I’d like to get via the API the actual messages received from the MasterCard network (and what was sent back).
Otherwise in terms of main functionality I’d say Apple Pay is my biggest wish, and after that I’d love to see a revamp of the cards/pots screen (still hate the new layout) as well as the payment detail screen (the new one looks like Android, which is fine for Android but looks out of place on iOS).
For me it would be:
• ability to send SEPA and SWIFT transfers from in the app without having to use a third party like Transferwise
• ability to set up additional accounts
• additional currency accounts in EUR and CHF
• ability to give a secondary card to a partner or child
interest. Or given that Monzo don’t seem to want to offer interest, very tight integration with a savings account provider. Ie. I keep < £50 in my account, and any payments larger than that, Monzo automatically withdraws from a nominated savings account.
Dutch fintech bank Bunq offer 25 IBAN accounts, for budgeting and bills. I really, really like this idea and something similar could easily be implemented with the pots.
More categories. Please, for heavens sake, more categories. Or even just a savings category.
Virtual debit cards a la Revolut - to separate online shopping, for you to cut fraud if websites have breaches and cut costs of issuing cards.
Retrying direct debits - which used to happen as I requested it in August and has since been withdrawn!
Better quality debit cards. So far all my cards from Monzo have peeled and failed. My fault for not using a wallet, but some banks do use higher quality cards (mainly the building societies and Yorkshire Bank from my biased limited research).
Direct debit topup. Could be a cheaper way to top up.
Savings accounts with interest. You need to fund those overdrafts some way.
Web interface - I regularly sort all my accounts/standing orders/direct debits online.
EUR and USD accounts/pots within the app (like Revolut but with their own IBAN or routing number). I currently put some savings into my Irish EUR account in case of severe Brexit blues. I have also recently opened a Bunq account.
SEPA transfers re: above.
More user friendly interface on some options.
Not being forced to share all my contacts to do bank transfers.
Facebook knows what I was doing a year ago, Twitter knows what I was thinking a year ago, Flickr can see what I was doing a year ago and Monzo know how much I was spending a year ago. How about pulling them all together?
“Hey Tony, it’s a year since you spend a stupid amount of money at Alton Towers, here’s some pictures you took and comments you made about it.”
