Plan early and avoid debit cards: how to get the most from holiday money


(Caspar Aremi) #1

Useful article about spending money on holidays. I was actually going to post it to point out the advice on not using debit cards not being relevant for Monzo users, but they do actually mention Monzo and other challengers further down.

(Monzo is ‘popular with under-30s’ it says - is there actually any evidence for this?)


(Jack) #2

The Guardian do seem to like Monzo :slight_smile:

New arrivals in the banking market are offering fresh options for tourists. Monzo, which is popular with the under-30s, allows the withdrawal of £200 a month for free. After that, you will be charged a 3% fee.

I do wonder if non-monzonians see things like this and assume there is a similar limit on cash withdrawals in the UK as well as abroad though…


(Tom ) #3

This is from some time ago, but

I don’t know what it is now - would be interesting to know.


(Change Works) #4

I suspect that if you ranked all banks in order of number of customers <30, then Monzo wouldn’t be near the top due to the sheer size of the High Street Banks.

There must be evidence around this somewhere, though.


(Caspar Aremi) #5

No I don’t think it means in terms of popularity in the age bracket, I think it’s more it’s saying that’s who the majority of its customers are. I just hadn’t seen anything which actually stated most/many Monzo users are actually <30, or if it’s just a dig at it’s hipster image.


#6

They didn’t use the word millennial which I thought they legally had to when mentioning Monzo


(Change Works) #7

It’s a sloppy phrase if it means different things to different readers. To me

Monzo, which is popular with the under-30s…

means that a fairly large proportion (define popular) of under 30s use Monzo, which I doubt. Even to be pedantic, the largest proportion of under 30s are also under 18, and so do not use Monzo.

But you’ve probably translated it correctly. It just grinds my gears when journalism needs to be translated.

As @Rat_au_van said, they should’ve just used millenials (which is a whole new can of worms (the word, not the people, they are all very nice!)).