Publishing our 2018 Annual Report!

We’ve just published our 2018 financial statements!

We’ve made them public on our website, and emailed them to all our crowdfunding investors.

All the details and a link to the full report here👇

Got questions? Head over to this week’s special annual report focused community Q+A


I read it as customers generally don’t bother looking up the investor pages of their banks or search for them on companies house


I think what they mean is that most people won’t bother to go to Companies House website search for a particular company, Scroll through other official documents and find Annual Report to download and read.

It’s about making it visible and having it more conveniently available for access.


Kudos for the transparency! Some headlines and comments on Twitter make me laugh, to be honest. Monzo is still fairly new in the game. Does anyone know when is the Marketplace meant to be release? That could change things. I do think that at some stage to reach profitability they will have to “add” a Plus account with a monthly fee.

I don’t, I think the marketplace will earn plenty of revenue & there’s some issues with tiered services. There’s been some more discussion about this here :point_down: earlier today btw :slight_smile:


Which part of the report are you confused about? Maybe the staff can clarify anything you have doubts about :+1:t3:


I really hope the Marketplace is coming in the next few months, been waiting a while now.
This is the only thing that keeps my Nationwide Plus account open as I have the phone and travel insurance there, I need to pay in my salary there to keep it that way and then move the majority to Monzo.

1 Like

considering this is a report for the year to Feb 2018 when prepaid cards didn’t end until April 2018 and there were “only” 110,000 ish CA users, am I to early to say I cant wait for next years report when figures will be available for 1,000,000 +++ current account users :slight_smile:


If you have a FlexPlus (paid for) account I don’t believe there is a requirement to have your salary paid into it.

Unless Nationwide have changed their policy since I had one, you can simply have a standing order pay in £13 per month and let them take the monthly fee. Of course, as the account pays interest, if you’re able to leave up to £2500 savings in the account you’ll pay less for the benefits, because the interest earned will offset the fee.

But you should be able to have your salary paid into :monzopride: Monzo and use that as your main account.

1 Like

Well done Monzo :clap:

Any chance I can get these emails?

I actually just double checked and it seems that they removed that :raised_hands: thank you!
I will switch my salary from this month. :slight_smile:

Together, this has helped us lower the cost per account to around £15 in June.

About £10 of this cost goes towards providing fast, friendly support: the team who speak to our customers and solve their problems every day, in-app, over the phone and on social media.

This probably raises a question for a few of us keen Monzo’ites…

Do we actively seek out to contact monzo, more than we probably should?

1 Like

A) I expect there’s not that many people like us but B) I don’t think so anyway -

We see that £10 as an investment that lets us provide an effective, delightful service that’s reflected in a Net Promoter Score of almost +80.

I interpret that as Monzo taking a similar attitude to Slack & viewing support as a marketing cost. As Tom says, it’s resulted in that great NPS that’s led to so many referrals. But also, having the opportunity to delight users means they talk about it & promote Monzo on social media :smiley:

1 Like

Times published an article on the back of Monzo’s Annual report (It’s behind paywall but free signup can give you access to, I think 2 articles a week)

This article is bit cringeworthy. I guess as a long-term Monzo follower I know more than the journalist who wrote this but just to give you a flavour here are some bizarre quotes from this.

The three-year-old company, known for its bright orange cards,…

It’s not bright orange :joy:

…It also offers a spending management app.

It implies like there is a separate app.

Monzo is one of the most high-profile fintech companies to emerge in the UK along with rivals such as Revolut, which is pursuing a business model based on avoiding applying for an actual banking licence.

Didn’t mention Starling and Revolut has been pursuing banking licence in Lithuania and US

Nothing to do with the content of the Annual Report, but in terms of the publication format (HTML), I think it’s interesting to see that Monzo’s approach is exactly what the Government Digital Service advocates (and I think they have a pretty decent approach to design):


I’m all for HTML5 however are stating a lot of incorrect information regarding pdf’s