Switched from Monzo to a legacy bank (Barclays) 💫

[patrice58 (Leon)]

Hmmmm I didn’t know that, I have a Smile account and I believe they launched both quarter bitten fruit pay and Android Pay at the same time.

[WillP79]

Sounds ridiculous, but until they offer cash deposits, I’m the same. I won a grand in a casino yesterday, and now I’m just carrying it around. Admittedly I’m abroad, but if there’s any left when I get back, I’ll need to pop to my legacy bank… We can argue with hipsters about the future of cash, but sadly hipsters don’t run casinos…even in London

[HoldenCarver (Nick)]

@GalaxyMergirl

I also think there’s two fundamentally different types of people coming out of this - people like me, who don’t mind having multiple bank accounts for different uses and to meet different needs; and people who really want to be able to do everything in their financial life through a single bank.

I was a one-bank man until Monzo came along, but since having used it alongside my legacy account - and having experienced no ‘why do you have more than one account?’ problems in doing so - I’m fully on team “Have as many accounts as are right for you.”

Hence, for me, certain things aren’t actually an issue. Monzo won’t take cash deposit? I don’t want to post a cheque? I’ll deposit in my legacy account and transfer across the money I need to Monzo. It does somewhat confuse me when people complain that Monzo doesn’t have any arrangements for cash deposits so they can’t dump their legacy bank. Not least because if Monzo did make any arrangements for cash deposits, there would be at least some subset of Monzo customers who would still be depositing their money using the same place as they always did, no?

If anything, somewhere down the line I’d consider opening an account at a branch with a magic money machine for all the random loose change that may need depositing, as my current legacy bank doesn’t have those so I have to count any change I deposit myself.

If there’s one thing I’ve learned from reading what people have had to say in many threads here it’s that I’m something of an exception in learning to embrace multiple accounts for different needs and that most people are dead set on having just the one for everything. It might be something Monzo have to be more direct in tackling in future. Either by filling the gaps someone, or by more strongly selling the fact they can be used in conjunction with a legacy account rather than instead of.

[marksweeney (Mark)]

I think it is another of those things in the queue to be done We have to balance the demands on engineering time from doing big projects to filling smaller things like that (which actually might require a lot of changes behind the scenes).

Hey Hugh,

Thanks for getting in touch, appreciated.

I’ve been speaking to Alex on chat, who say that it’s an error with the bank of the person who is trying to pay me with Monzo.me, however, this error did not occur before upgrading to the CA - payments were received fine beforehand. Any ideas?

Thanks,

Mark

[mnaguib (Mohamed)]

Complaints handling is just like a legacy bank even the responses are very corporate.

YES! I totally agree! Sometimes I feel like they have their own roadmap and they just don’t care about customers and what they want.

Direct debits should be attempted again on same day

And also Apple pay that they are saying it’s because of 3rd Party! Everyone else except them has Apple Pay! I just feel they don’t want to pay money

• Another thing that I would mention, when they introduced the accounts, when you try to top-up with a debit card they show a message saying “If you can top-up with direct debit bla bla, Monzo pay money for each time you top-up using debit card”, As a customer I find this message REALLY ANNOYING! It’s a feature that you spent time doing and now they are trying to git rid of in a very cheap way saying that they pay money! You’ve to accept the consequences of having this feature from the beginning!
• I am sorry to say this but the monzo community is a bit aggressive, when I posted a question about ApplePay, People were aggressively defending monzo and also Monzo’s customer support put my account on hold because I am asking about it! That was the moment I truly said I am never using monzo again.

I would be interested to know if there is anyone else like me here who have switched away from Monzo.

No you are not alone, I switched away from Monzo and started using AMEX, I only now use monzo to send/receive money with my friends but I’ve stopped using monzo.

Adios Monzo!

[spicefox]

Hello @mnaguib

I’m sorry that you feel that way, however Monzo have explained why they advise you that topping up by debit card costs. They don’t plan on removing the feature right now but they’ve asked the community how they feel it should be handled moving forward.

Reducing the cost of debit card top-ups

Monzo is much better if you get your salary paid directly into your account or set up a regular standing order from your old-school bank (regular payments make budgeting easier, target-setting better etc), but sometimes we know it’s useful to be able to top-up instantly in an emergency. So we’re bringing back top ups for those times you really need them. Read the full blog post here However, unlike bank transfers, this method of adding money to your Monzo account has a processing cost which is…

As for your second point regarding Apple pay I didn’t find those responses aggressive personally but I apologise for be fact you do. Apple Pay, as far as we’re aware, cannot be discussed by Monzo likely due to an NDA. As there is no updates the thread was going around in circles. I’m sure as soon as any updates can be bought to the customers, it will. Monzo have said thay they do want to implement the feature. I do not think the cost would be prohibitive as they want to be as forward thinking as possible and a one stop shop for all your financial needs.

Hopefully they can win you over in future

[Monza]

@iansilversides

Im a “hardcore fan” and investor

@rarther

Another hardcore fan in hiding here

I guess the difference is that some like me see Monzo as a company offering services and we are customers, As customers we can like and criticise but as fans it’s just hard for people to have unbiased view.

Here all the responses from Monzo staff are really same sort of answers I always see no substance just sort of hollow reassurances and excuses. I am rather disappointed with this because they keep banging on about being different but all that is different is use of cute smilies and hearts, I wonder?

Maybe being cool is more important for some than others and thats why I think Monzo will sell themselves are a cool new kid on the block and will always behave as a start-up and for me it’s little bit concerning because if I am to use Monzo they will have so much of my data and I wouldn’t want them to behave like Facebook with that.

[iansilversides (crowdfunding investor)]

yeah - I see Monzo as a company offering services and I am a customer , as I previously said some things it does well other things are missing is it a “deal breaker” for me …no - I would never use apple pay, not having it doesnt bother me - I don’t really have savings issues that I need somebody to do it for me like save the change - not bothered by that either - some people are desperate for both and consider them absolutely necessary - different requirements from 190,000 customers - “fan boys” whatever you want to call them

all banks that you use have your data and use it

being cool ? lol Im almost 60 …that time has past me by

• if it doesnt suit change banks

[Peter_R (Peter Roberts)]

@Monza

Here all the responses from Monzo staff are really same sort of answers I always see no substance just sort of hollow reassurances and excuses

If there’s a question they just can’t answer what would you prefer they do? I suspect if they just stay silent and ignore this thread then that will be commented on negatively as well

Edit: I do agree that there are things I wish they could also or put time-frames on but the reality is probably that these things are just unknowns at this point or are legally prohibited (ApplePay). Are there things Monzo could do better? Absolutely but I don’t think they’re doing a terrible job right now

[iansilversides (crowdfunding investor)]

steady on Peter the “fanboys” will be being accused of crushing dissent

[Peter_R (Peter Roberts)]

Hmm, I do hope not - especially given I was one of the earliest people to spread some dissent in this topic I can be accused of whatever but I’m still going to try and have a reasonably civil discussion

Wishing for the world is great, and I wish I could have all the things I want in Monzo by tomorrow afternoon but I’ll have to be a bit more realistic I think

[spicefox]

You have criticized both absence of comment and responses…

What sort of responses would you prefer to see from staff?

[iansilversides (crowdfunding investor)]

totally agree - people have different needs , wants or requirements from a service, nobody is being forced to use Monzo, it will either suit them or it won’t , I want Monzo to be better - yes of course, am I willing to wait for that - at the moment yes, will I use everything that Monzo builds , probably not

[GalaxyMergirl (Allie)]

@mnaguib

YES! I totally agree! Sometimes I feel like they have their own roadmap and they just don’t care about customers and what they want.

Product development is a massive challenge. Monzo takes feedback seriously, we’ve seen that. But that doesn’t mean roadmaps can go all over the place on a second’s notice. Caring isn’t necessarily delivering everything instantly, but rather seeing how things can fit in and doing what they can. I’ve never seen a bank as responsive as Monzo to feedback, but no, no one will be able to totally change their roadmap constantly. Development is a lengthy process.

@mnaguib

Everyone else except them has Apple Pay! I just feel they don’t want to pay money

It would be wrong to speculate on causes for Monzo, but do remember, Monzo are doing a lot more development work themselves than most challenger banks, and take this into account.

@mnaguib

As a customer I find this message REALLY ANNOYING! It’s a feature that you spent time doing and now they are trying to git rid of in a very cheap way saying that they pay money! You’ve to accept the consequences of having this feature from the beginning!

Unfortunately, one of the natures of any business - especially a startup - is that costs and usage patterns may prove to be very different from what one expected at the beginning. I get it - that can be disappointing, and for someone who was depending on something, could be a reason to leave. But a business also needs to be viable, so it’s a tough line.

@mnaguib

I am sorry to say this but the monzo community is a bit aggressive, when I posted a question about ApplePay, People were aggressively defending monzo and also Monzo’s customer support put my account on hold because I am asking about it!

I must say, if your account was frozen for asking politely about Apple Pay, I’d find that extremely concerning. Not knowing both sides of the story, of course, I’ll not make any judgement on it - but was that the reason? (update, it has been clarified by @RichardR that a forum account was automatically moderated, and the Monzo account was never frozen)

As for an aggressive community, I think people can be passionate, but not aggressive. I, for one, sincerely apologise if I ever come across as aggressive. Banking would be such a silly thing to get aggressive over (not that anything justifies aggression). I agree that tone can be hard to read in typed form, and we all need to be careful to write in a way that is friendly and understanding even with people who completely disagree.

But, at the same time, why judge Monzo by their fanbase? Is that a standard you apply to Microsoft? Apple? Your favourite football club? All of those have far more toxic fanbases - and indeed, employees. At London Pride a few years ago, the employees marching on behalf of one large tech firm were behaving so obnoxiously and aggressively it put me off wanting to buy anything from them again! But then I realised, some carried-away employees partying a bit too obnoxiously is not the company!

@mnaguib

I switched away from Monzo and started using AMEX

Amex offers current accounts in the UK? I wasn’t aware of this. I had an Amex current account-like prepaid card (think old Monzo) called Bluebird when I lived in the US. It was okay, but I’d never trust any prepaid card with my salary.

@iansilversides

totally agree - people have different needs , wants or requirements from a service, nobody is being forced to use Monzo, it will either suit them or it won’t , I want Monzo to be better - yes of course, am I willing to wait for that - at the moment yes, will I use everything that Monzo builds , probably not

Definitely!

[SC95]

Wow… a pretty brutal start to 2018, eh?

I am sorry that you feel that way but, to be honest, your response is just a lot lines without much substance. Again I am sorry for being brutally honest about how I feel.

I am quite surprised to see a huge response to my post and I can see a lot of people have a lot to say about the specific needs they have but my main gripe is that I feel Monzo have been releasing some features half-baked and premature like Direct Debits are just ugly and Pots are just very basic. Maybe Current Account should have stayed in testing/beta for another couple of months to iron out some basic stuff.

Monzo implemented few things recently like Selfie/video requirements for PIN and Statements which just go against of their cost-saving arguments in other threads and also it’s so cumbersome and seems overkill. I believe they could have done these security checks in some other way. Like by asking customers to enter PIN just as we do for payments etc…

[GalaxyMergirl (Allie)]

I believe they could have done these security checks in some other way. Like by asking customers to enter PIN just as we do for payments etc…

That wouldn’t work too well for PIN display. Asking customers to enter their PIN to see their PIN would result in a loop (if a customer knows their PIN, presumably they won’t want to see it).

I agree completely for statements, however.

[Peter_R (Peter Roberts)]

which just go against of their cost-saving arguments in other threads

We don’t know how much the PIN verification costs them? If I’ve missed that info being published I’d love to see it

[GalaxyMergirl (Allie)]

We don’t know how much the PIN verification costs them? If I’ve missed that info being published I’d love to see it

This. I had the same thought and Monzo staff implied it’s probably cheaper than I thought, but I also know they’re not able to comment on it so let’s leave it at that, be thankful for how open Monzo has been, and not try to press for things they aren’t at liberty to talk about

Not trying to shut anyone down, just wanting them to know I’m thankful to have a bank that’s open when they can be, and respect when they can’t be.

[rarther]

The Monzo staff are getting a lot of digs in this thread. Totally unfair. I wonder if the frontline staff, engineers, product managers and CEOs on the Barclays community forums are more helpful? Oh wait, they don’t have one and have no interest in talking to you.

[jd0n (Jack Donovan)]

The product is still not really launched. I’m not 100% sure what everybody expected

Yes, the pre paid product has been around for a while, but the current account is not really even fully running yet… Until they get everybody migrated across, I assumed the features would remain the same as they had since launch.

I’m definitely not going anywhere, I think you will all be pleasantly suprised watching the development and new features that arrive during 2018

Show and steady wins the race and all that

I can however, totally understand that some people may feel that Monzo isn’t right for them at this current stage. And looking at this thread from a positive note, a lot of feedback has been raised here which gives :mondo: a good direction for 2018