I can 
Monzo lost 4k and gained only 10k. That’s strongly effected by “what people talk/advice” online.
A few people reflected they moved their money away from Monzo “just in case” 
Also, saw many notes that people where closings their Monzo accounts “before Monzo did it” 
All that does not help Monzo gain as many new customers as they could 
God. Imagine taking financial advice from someone who can’t even spell business.
If this conversation is from the “Monzo stole my money” group, I doubt you could get a worse self-selecting group to prove a connection between social network interaction and CASSing.
Well, I think that group is very “effective” as it’s growing quickly and (probably) many people believe to all stories they read there 
Eg if I never had Monzo ans MANY of my friends says “not worth the hassle” I probably wouldn’t bother to try that service tbh
@anon75400416 that’s what also affecting CASS figures, as less people joining and more leaving 
You’ve brought this up a few times. What’s your angle?
Their well trumpeted move into self-service estate agency totally fizzled out as well. No-one would have minded some “disruption” there
The supermarkets are extremely good at what they do as their core business, but maybe they are just as shaky outside of that as most other businesses
Considering the spend from Starling and Lloyds on adverts and marketing, no surprise in the uptick in numbers. Maybe monzo need to thinking about national TV campaigns once they’ve fine tuned and introduced new revenue generating features such as premium accounts, loans, ISA accounts etc.
Also, as most posts suggest the incentives offered by other banks can be appealing for non sticky customers to move across.
Again also mentioned by other users, the offer of bounce back loans would also play a part in these numbers.
Sorry if I’ve missed something but What do bounce back loans have to with personal current account switching.
Whilst I agree that banks offering switching incentives probably fair better in these things Clydesdale and Starling didn’t offer them.
The fact that Monzo gained 10,000 is not an insignificant number but overall I doubt (and I’m sure people will disagree) that those 70,000 people switching to the top 4 (on the CASS stats) did so to paid for accounts. Equally (and I know we’ll never know) i’d be curious as to how many of those 10,000 that switched to Monzo did. so to plus or premium accounts
Clydesdale numbers include Virgin Money and the wine deal
I thought someone had said here that Clydesdale stats don’t include Virgin Money. Even if they do though, I doubt the CASS swing was that big over a few bottles of wine (happy to be wrong though)
Have contributed to these stats in a few ways
TSB switch away
Halifax switch in & away
RBS switch in (best of the high St bunch for me, so have kept this - also had to keep it longer in their terms)
Think Money opened just to switch away (on the lower volume section)
Lloyds switch in & away
Monzo switch in closing off the 4th account in the loop
Part of me wishes I’d kept the Lloyds account - bizarrely the app worked slightly smoother than Halifax and also…the Halifax card. I do still have a Lloyd’s saver for cheque imaging, but RBS should replace this soon…
Monzo sat there as the third sacrificial account now, but won’t do a switch boon currently as in the middle of something.
I’ve also found I can make more money from Revolut referrals of late
“Virgin Money and Clydesdale Bank merged in 2020, a change that will be reflected
in the participant data released in the July 2021 CASS dashboard” - for the avoidance of doubt, it clarifies this in the document.
The stats include small business switches too, so there are still potentially people/businesses who switched for bounce-back loan applications. Whilst the small business switches only really account for ~10% of the CASS’s every month (December’s was slightly higher), which means we’re only talking about 15K here, it’d be interesting to see which banks reopened their BBL applications (or closed them).
Good spot!
I did wonder, though, if there’s a bit of a grey area in the middle. I thought that the first “Virgin” current accounts were actually opened under the Clydesdale banking licence, but using the Virgin brand. It’s certainly using the Clydesdale technology.
Messy, isn’t it?!
Someone could have opened a Starling business account to get the bounce back loan and then being impressed by their app/Starling as a whole, decided to switch across a personal account.
The same can be applied to any other feature or benefit.
Sorry but going into the Facebook echo chamber of people who have beef with Monzo isn’t reliable one bit.
That’s like me going into a Conservative party election rally and saying so who’s voting for Labour then. The results that come back aren’t worthwhile to use for any analysis.
Starling IMO where very picky about who they gave BBL’s to, and from what I heard far pickier than perhaps the spirit of the rules allowed which is why I wouldn’t consider switching for or as a result of BBL’s the same as switching for a £150 bonus from Lloyds for instance.
In addition to pick up on your point about being impressed post BBL application I would say that is a legitimate switch and not one that is incentive based.
Same here but both still contribute to the numbers.
I agree, I wasn’t saying otherwise, I was just answering your question…
A BBL could have been a path to a personal account that someone wouldn’t have previously considered without the exposure they got to Starling via their BBL.
It’s certainly not a bad thing and is the type of switch that is more likely to stick because as you say it’s a “legitimate” one.
I don’t fully rely on Fb “stories”. Only did reflect it also effected Monzo losing a few customers because of it 
Surely those “stories” are not helping Monzo gain more customers 
It’s idiots ranting at more idiots who believe everything they read on the internet.
If people are stupid enough to close their account because someone they don’t know did “nothing wrong” and got their account closed, then that’s on them.
Exactly. Lloyds Bank has a ‘Poor’ rating on TrustPilot, with 75% of reviews rating it even worse, as ‘Bad’.
I don’t see the same analysis being made about Lloyds.
That’s where I’m coming from on this, you opened a Virgin Money account last year, you got a Clydesdale Bank Sort code with a Virgin Money bit of branding over the top. It’s a B Bank account with a new skin