Switched from Monzo to a legacy bank (Barclays) 💫


Hm, yes, I used the wrong word there. Adjusted it.


I have got this process sorted now switched about 17 DDs and SOs to Monzo in September and then all to Barclays :stuck_out_tongue_closed_eyes:

Not fun but not so complicated. My employer is good so didn’t had problem switching salary as well to and then from Monzo

(Tony Hoyle) #20

I’ve always had a sort of private deadline when I’ll see what Monzo have implemented and if it’s not to my liking, just go elsewhere. I’m a few months off that, although the current account feels very beta right now, and isn’t something I’d feel comfortable recommending to friends.

In 6 months though? Who knows…

(Louis Otto) #21

Does anyone else feel that the legacy banks have less to do to catch up with Monzo’s benefits than Monzo has to catch up with legacy banks functionality?

I’ve also questioned whether I should move back to my legacy bank, given that Monzo aren’t exactly working at great pace to introduce new features - more to migrate existing prepaid customers to current account.

Pretty much every legacy bank has complete parity between Android & iOS. Most have a ton of extra features like joint accounts, reporting, overdrafts etc

All they seem to be missing (feel free to correct me) is instant notifications (which a few now have) and open banking integration (which Monzo themselves don’t fully have yet anyway)

I think the gap is much easier to close for legacies than Monzo right now.

Not to sound negative because I am a Monzo customer, and want them to win out, but I can’t ignore the spreading dissent in these forums…

(Peter Roberts) #22

Yeah, that’s part of my feelings right now too. Monzo has typically been viewed as more agile due to modern infrastructure etc but I’m not feeling that right now

I still support Monzo and have faith because I believe in their ethos though. If I didn’t then I would have moved over to Starling by now - I have thought about and assuming they continue along as they are they would probably be my next port of call if I did move away from Monzo for whatever reason


I agree who knows how it will look like in 6 months but till now Monzo’s record is not so great just as an example this what @tom said a year ago

Its still not available :zipper_mouth_face: I can give quite few more examples and I also understand things don’t always go to plan but Monzo are failing to followup on these sort of statements IMO transparent roadmap is also like a moving target :dart:

I still believe Monzo will improve and in few years time I am hoping to see a rock solid product and innovative CA

(Patrick) #24

Got to admit, I’ve considered going back too. Only thing that’s stopped me is that I try to keep ethical. So all the big banks are out for me.

But really thinking about it, there’s not much Monzo does that my (absolutely terrible) Co-op Bank account didn’t do. Pending transactions and instant notifications are really the only things I’d miss.

The direct debit on payday thing and the lack of any overdraft as a workaround for that has made me think majorly - you’d think sorting something like that would be a huge priority.

As an Android user it’s even worse as we’re so far behind iOS. It’s been well over a year since anything significant was added or changed in the Android app - and it was said we’d have parity for the current account release.

I originally started looking around because they (Co-op) didn’t support Android Pay - they support Samsung Pay now though.

N26 has also got me a bit interested.

(Peter Roberts) #25

And yet Monzo has grown so much in size. I guess that is mostly in terms of COps

(If there's the wrong end of a stick, you'll find me holding it.) #26

I think they’ve been focused on moving all the prepaid customers to current accounts and it feels as if this has delayed progress on other improvements.

They seem to be getting nearer to 50% completion on that so I’d expect some current account improvements to be coming through in three or four months at a guess.

(Louis Otto) #28

And to piggyback off your comment, legacy banks could probably get more done to close the gap in 3-4 months than Monzo could (going by the last 3-4 months)

Using Barclays as an example, their mobile app has come on leaps and bounds in the last 3 months or so, to the point where it’s actually really good.


Didn’t switch to Monzo because I think they are not really there yet for me. I see people so excited about Monzo here but they don’t want to know that everyone has different requirements.

Also weird that Monzo staff and all hardcore fans always stay quite on topics which are critical u feel they expect these sort of threads to die in few days and then it’s back to business as usual :thinking:

"Users Who Criticise Monzo Get Shouted Down Here"
(Peter Roberts) #30

What I hope is the case - and I somewhat suspect - is that Monzo are now working on loads of things in parallel and once things finally start coming out the end of the pipeline they’re going to start coming out thick and fast

(Peter Roberts) #31

Just as a contrasting data point: I consider myself a hardcore fan and I think I’m being extremely critical of Monzo in this thread :stuck_out_tongue:

( related to Monzo CEO, Investor in Monzo ) #32

Im a “hardcore fan” and investor - :slight_smile: yes people have different requirements plainly , there are maybe 10 on this thread that have different requirements - which is perfectly acceptable - “hardcore fans” cant really win - if they don’t comment they are “staying quiet hoping for the thread to die away” - or has been mentioned quite a few times previously if they do comment they are “stamping on dissent” - :slight_smile: :slight_smile: - Monzo are getting quite close to 200,000 CA users - yes you won’t please all of these people all of the time- not really much more to say - if it doesnt suit you change to a different provider, or don’t swap over to Monzo - as with most things regarding Bank account choices none are punishable :slight_smile: - Yes Monzo isn’t perfect , yes they have slowed down their development updates , no bank account is perfect , no bank account does all things for all people - life eh :slight_smile:

(Patrick) #33

Soon enough, with open banking and APIs, any old bank plus aggregator app will equal Monzo. I’m really not sure Monzo are moving fast enough not to be overtaken by developments elsewhere - I’ve been saying this for a long time but it really seems to be coming true now.

I’ve been looking forward to a big update where everything is suddenly added and at parity - that they might have been beavering away at in the background. But I’m losing faith. :frowning:

(Hugh Wells) #34

@SC95 I’m really sorry you’ve had this experience and I’d like to thank you for writing such comprehensive feedback. I’m going to pass this on so someone can reach out to you over chat.

(Leonard) #35

It’s probably worth noting that legacy banks have been around for decades* and had time to really develop their offerings whereas Monzo are still babies in the banking world.

Sure Monzo have a long way to go in terms of parity with legacy banks but they’re only been around for 2 years! Things take time…

*MetroBank has only been around since 2010 or so but that’s quite a bit of time compared to Monzo’s 2 years.

(Mark) #36

Agreed. The current account to me works less well than the pre-paid card, due to the fact that Monzo.me no longer works with a few banks, notably First Direct.

Every time that I send someone a Monzo.me link, and then have to explain to them that it didn’t work is an embarrassment to me and tarnishes the Monzo brand. When will this be resolved?

(PhilB) #37

Let’s just say that nobody should be aspiring to be Metrobank, based on my attempts to deal with them… :thinking:

(Tony Hoyle) #38

Do Monzo have time though? The momentum they gained as a new bank can only last so long - at some point they just become another choice in a crowded market. That could be months… it’s certainly not years.

The good bits of monzo keep me around… indeed I don’t have any issues beyond the overpriced overdraft, but there probably aren’t enough people like me to sustain a bank - the issues raised in the various threads recently need to be addressed.