Still not for me, but will see what Support team come back with. Thanks for responding.
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Wasn’t, unusually. Signed in. Quit Monzo. Started again and still fails.
Just had the message pop up for me too today.
I chose not to continue. I see no benefit in a few custom categories and a connected account I can easily see in their app anyway.
I will of course be keeping an eye on Plus and Premium in the future.
I’d be interested to see a poll on here asking who kept it and who is letting it revert back to free.
Even if it’s 5%, that’s still conversion for Monzo. This forum isn’t (as ever) a good representation.
As @ndrw a lot of the features are for “power users” but I know at least two people who pay for Plus who are definitely not that.
I mean you could say this about any poll in this forum…
That’s exactly what I said.
I’d disagree - the polls get shared internally between the teams creating the features
I’m a poll fan but nonetheless any feedback on the rollout of this totally welcome
I’m also coming to the end of my trial and have also decided I won’t be continuing as a paid user. For context, the only aspect of Monzo Plus that really appeals to me is aggregation/analytics. I already pay for a 3rd party aggregator, so to switch to Monzo Plus I’d have to decide to ditch that aggregator and use Monzo Plus instead. Here are the main reasons I’ve decided I won’t be doing that….
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There is no easy at-a-glance summarisation of connected accounts by account type (for example I can’t quickly see my balance across all current accounts or across all credit card accounts). I can do it using the filter in Trends but that takes several seconds each time you want to switch to a different collection of accounts. Perhaps having pre-set or user-configurable filter collections would help (in addition to the current ability for ad-hoc fine-control).
EDIT - I think another good option for summarisation would be the option to see a widget on the home tab which provided high-level summary of connected accounts, as an alternative to all accounts being listed in this location. I say more about this elsewhere.
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There is no prediction of upcoming spending from connected accounts.
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There is no “All transactions” feed which shows transactions across all accounts.
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The notes field and bank transfer references in the Monzo app are problematic because they are coupled. I explain this issue in more detail elsewhere.
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Trends/categorisation has limited flexibility in what is and is not considered a spend-type transaction. As far as I can tell, I don’t seem to be able to mark an individual transaction as excluded from spending - I seem to only be able to mark whole categories for exclusion (although I suppose I could create an “excluded” category with Monzo Plus). Furthermore I would generally prefer to treat transactions categorised as savings as spend-type transactions, but this doesn’t seem to be under user control.
Points 4 and 5 aren’t specifically Monzo Plus issues (they are also a Monzo Free issues). But they are obstacles in ditching my 3rd party aggregator (which I currently use for notes and categorisation across aggregated accounts).
So 3.5% of Monzo users have Plus.
This is where we find 219,000 includes 200,000 given a free trial.
I wonder how many as using premium…
350k+ subscribe to Plus/Premium based on the last investor update in Jan.
Taking that as 350,001 then thats ~131,000 premium users taking off 219,000
131k would be ~ 2.1% of all customers
If theres only 3.5% Plus i would have expected more like 0.5-1% Premium like 31,000-62,000.
Overall I enjoyed the free month, but I basically only used the custom categories, and that alone isn’t worth £5 to me. Back to the free tier I go!
Was great to trial Monzo Plus but (like many others in this thread) I’ve chosen not to become a paying user…
Features I liked the most included 1) being able to connect my Amex card and see balance 2) virtual credit cards 3) credit score.
Further feedback on each of these;
- Given that Monzo know Amex to be a credit card (and hence that it’s a pending debit), it would be useful if Monzo could show something like an “expected balance after credit card bill”.
- Virtual credit cards - work great! Tested with an Equifax trial and no issues.
- Credit score was useful to have but I had to search for it- why is this not just displayed in the home page? I need to be able to see it easily to know it has not gone down for any reason.
Final thought is that it feels like there is 1 or 2 more great features missing that would make £5 / month value for money. Features like holographic card is so gimmicky and useless IMO
You get a notification every month when it is updated. This pops up just above on the main feed. You probably just missed out on this with the trial.
To add to this - I imagine the issuing of the monzo plus card is the reason for the 3-month minimum term. If it were possible to opt out of the card (and not be tied to a 3-month minimum term) I’d be more likely to try Monzo Plus again in the future, even without a free month.
I was put on the trial and didn’t even know I was on it until the features disappeared. As others have stated I expect to choose to take out a free trial and not be put on it as au fait acompli. The most useful thing for me was having 10x round ups but that’s no big deal as I can do a manual round up if I choose to. Why should 2,3,5,10x round ups be a plus feature anyway? I thought I read they get this as standard in the US though I might be wrong. Perhaps Plus could be provided free if you maintained a minimum balance across your account/pots as extra funds available for Monzo can be lent out at a higher margin to the benefits or interest paid on savings 3% currently. Just a thought
They do. Different market different cost/revenue structure.
I’m more worried that the advanced roundups don’t actually leave my account, you know, rounded up. Feels like it defeats the whole point of it.