Switched from Monzo to a legacy bank (Barclays) 💫

Yep, and I’m sure that’s how the development team see it. :slightly_smiling_face:


I was about to suggest a vote on your suggestion…but let’s not :grinning:


I think there’s a balance. We still make the majority of business decisions ourselves (and lots of people here on the forum then complain that we’re not listening), but getting feedback and views of customers is incredibly important. Whether that’s as a vote, or a survey or any other method, the alternative is hiding away in a black box and thinking “we know best”. I think if you do that, you end up with a big bank pretty quickly. We’re trying to build something different.


The problem with the traditional approach of asking for opinion is that there is very little feedback loop. People want to see their ability to influence changes. Opinions can be vague and have a diluted effect in large numbers. Often your feedback to a company will seemingly disappear into a black hole.

With a vote, you can actually see your vote making a difference and you can see other people voting against you. It also gives the company the ability to predefine a selection of suitable choices.

Not to say that opinions are worthless. Opinions could be analysed and displayed to the community with word clouds and such… They are also a natural part of this forum and are great for idea generation phase.


The problem is with following a vote is if it is binding…using it in an advisory capacity is best :wink:

We saw with the Brexit Referendum how about 51% of a 70% or so turn out meant about 35% of the electorate dictated the future for everyone else (who obviously should have voted - but that is another issue) and with Monzo votes you will also get a more active (or perhaps more acurately a more vocal) core of members dictate the direction even if it is not in the interest of the others


Almost 6,000 users voted on the ATM fees poll, a large portion of whom were not regulars in this community. It doesn’t matter if the user is vocal or not, each user gets one vote which counts as much as every other vote.

And if, as Tristan says, Monzo continue to make these polls more accessible, the minority casting their vote will become even less of an issue. Obviously not every user needs to vote, Monzo just needs a representative sample.


But if you’re going to let people vote and then just do what you want anyway, there’s no point in having a vote in the first place.

Letting people think they have a say and then completely ignoring it is definitely not what I would expect (and exactly why I stopped using giffgaff)!


So the problem is more that if the vote is close, something other than taking the vote by numbers should be done. Maybe a compromise of both options, or that’s where Monzo use their expert opinion.

As @alexs points out the ATM had a large portion of voters who were not just based on this forum. In that vote the winning option was clear by the number of votes.

In Brexit you had 34% against, %36 for, %30 undecided. I say undecided because that’s what you have to take them as. It’s impossible to tell what they wanted. As there were only two choices, there was no choice but to go for Brexit. The failure for the against side was in the campaigning, not the vote.

If votes are made easily accessible through the app. Someone who didn’t vote would have to be taken as undecided or not caring. Thus any numerically significant win would be what the majority wanted.

My last point has been covered by @Chalky. Not following the outcome of a vote would dissuade people from future voting as there vote would not be guaranteed. That’s why every option must be vetted by Monzo beforehand.

1 Like

Which is why you’ll see we retained that option in the ATM fees vote :wink:


Personally, I’m super excited for what Monzo can bring in the future. I had intentions over Christmas to move everything over to my Monzo card but something stopped me. There are certain features which while I don’t use often I still need, therefore, I’d still have to keep my Barclays account open.

Without a doubt, I think the rollout of the current account limited the number of new features Monzo could introduce but with more and more customers migrating, I think it’s right to assume more effort will be put towards new features.

With all that said, once I can have an IBAN attached to my Monzo account, there’s Apply Pay support and there’s a way to put cash into my Monzo account, I’d be way more inclined to switch. For now, Monzo will just stay as a spending card so I can track the insane amount of money I spend at Starbucks each week! :coffee:


This x100! It is the reason I’m back with Starling. I did ask Monzo if they could re-attempt a DD that bounced but they refused. I was then penalised a £20 default fee by my insurance provider and it now means I’ll have this on my credit file. Not happy.


I have to agree with much of the sentiment in this topic.

I wouldn’t say I set my expectations as overly high, and as someone who transferred pretty much all of my banking to Monzo during the CA preview, I’ve been fairly happy with the service thus far. That being said, as time goes on, I’m starting to realise some of the features and functions I took advantage of with Natwest, I’m struggling to do with Monzo - International Transfers and Apple Pay as a couple of examples - not a massive issue and I know it’s in the road map, but I would have almost have preferred Monzo delayed the CA rollout until these functions were ready. Then other smaller “day to day” things such as second attempts with Direct Debits, no 3D Secure etc.

I have no doubt in my mind that Monzo will eventually “catch up” to my legacy bank and launch a whole range of new features and functions to better the Monzo experience and leave Natwest in the past. That being said, whilst Monzo is currently playing catch up in many areas, others such as Starling and the upcoming launch of N26 in the UK are already ahead with further additions and changes being made - only improving their offering vs what Monzo plans to launch or catch up with.

I guess you could assume that Monzo will always be playing catch up with the way things are currently moving. Don’t get me wrong, I think Monzo is a fantastic product and service, but in an ever more competitive market with many offerings available or soon to be available, I’m not sure good marketing and generally positive word of mouth (during the pre-paid days) is a reason to hold my custom in the long run, alongside others - the novelty of it all will soon wear off for others no doubt.

As a caveat, I totally appreciate that everyones wants, needs and expectations of a bank are different. Some will like the fairly basic feature-set of Monzo, others will not - just putting forward my opinion.


Surely you’re in charge of whether you have enough money in your account to pay a DD?

Maybe, just maybe, the functionality to remind you there isn’t enough money for an upcoming DD should be something they focus on but I’m not seeing the need for retrying a failed DD when it isn’t their fault it failed.


I think this is a pretty fair response, Monzo isn’t rolling out as much features as before so some people will definitely look around and compare it to the other options available. I wasn’t expecting much from Monzo but it’s revolutionised my spending habits and the way I see banking and I want to see how it’ll grow. Plus I love the staff and community and the brand is really good at inspiring a certain something- as much as they are a company, I feel like they are my friends- which is something they’ve really sold well as their image.

I have accounts with several fintech apps and I’ve stopped using Curve and Revolut entirely since they don’t have anything I need at the moment. I’m still using my legacy account for the odd feature or function Monzo doesn’t have/ doesn’t plan to have.

I see no reason why people should be compelled to do everything with one bank account- you would have one for daily spending, maybe a few for interest, another for joint accs, credit cards, a random bank account you haven’t bothered to close because it is such effort… I guess it’s easier for some people to just only have one, but it’s entirely up to each individual to see which types of accounts serve their needs best.


Also a very fair response, and there’s no denying that the spending targets and it’s ability to change your spending habits is worth a lot just on it’s own. I also agree that you shouldn’t put all your eggs in one basket and instead use a “portfolio” of financial institutions for a number of reasons - including merely as a backup in case Monzo or whatever bank were to break down for whatever reason.

I guess my ever growing concern is - none of this is particularly unique nor “done best” by Monzo - at least not anymore, and I’m not sure if that’s going to change anytime soon.

Either way, I’m not a pessimist and have nothing but high hopes for Monzo - hence why I moved all my primary banking over. I just hope that it’s in Monzo’s plans that they meet the feature-set of traditional banks with as much priority as they add any planned new features - such as basics - International Bank Transfers, 3D Secure, DD second try etc etc etc.


I think a notification the day before would also work. In this case one of my DDs was a week later than expected. I just want that chance to move money in from elsewhere.

I use Squirrel which allows for next day transfers so I think a notification the day before could potentially work better.

Ideally both would be great. A warning the day before of insufficient funds and the chance to transfer money in by 4pm in the next day.

3-D Secure isn’t really something that strongly demanded by the wider user base. Look at the US where very few banks implement it. Sure, like with the Monzo forums, you get some people complaining. But the vast majority of customers don’t care, or even are glad because they’re used to really bad implementations that cause huge headaches.

1 Like

Some sites in Europe require 3D Secure or they won’t proceed with the transaction, thats where the desire for Monzo to support 3D Secure comes from.

Its less of an issue that US Banks don’t support it as their customers won’t experience any issues unless trying to purchase from a European site that requires it.


It becomes an issue the same, we live in a global economy. There’s some noise, yes, but not enough to make most banks implement it in the US (though some have).

Meanwhile, I’d say if you asked the average person on the street - anywhere in the world - they’d say they don’t want it! It can be done well, but it often isn’t, and that’s the issue.

I don’t like 3D secure but some sites need it (tried to book flights last time and it wouldn’t register at all, but also unsure it was because they didn’t realise it was MasterCard Debit). A lot of e-commerce sites in Singapore use it too and I hate it. I think you need it for bitcoin too.