After using Monzo as my main account for all income and outgoings moved to Barclays
I moved my salary, direct debits, standing orders and all the spending to Monzo with intent to use Monzo as my only account for all my needs back in September.
I expected some glitches and was prepared to deal with few companies not accepting Monzo DD and card etc… I have also been recommending Monzo a lot to others but now feel I was a bit naive as ever in believing the hype and also believing in Monzo to be better for me but I am afraid to say this has not been the case in my personal experience.
Monzo has a long way to go and I might be back in few years using Monzo as my main account but for now, Barclays is much better for me. I am also going to wait and see what will N26 bring to the UK:raised_hands:.
Reasons I moved away;
- I found Monzo customer service extremely slow and also experienced that Chat is not always a quick way to get in touch.
- Complaints handling is just like a legacy bank even the responses are very corporate.
- Direct debits should be attempted again on same day
- Android App lacks some basic stuff which has been part of iOS app from the very beginning. I know the responses will be Monzo are working on parity etc… but a year ago Monzo was working on this but Android App has not improved much.
- Lack of Web access, 3rd Party integration (yolt etc…), 3D secure (very important for me personally)
- Monzo account lacks some basic features which we don’t use every day but when we need to use them this can be a pain and can involve inconvenient processes of posting letters and taking selfies while holding an ID. Why have more security steps for one thing but none for others, I don’t want to go into specifics but it just frustrated me.
- Monzo are not clear how they will use my data in regards to marketplace recommendations etc… I know bit premature to make any decisions based on this but I couldn’t get rid of those Bulb ‘Ads’ from my head
- There are few more minor things but one main thing I experienced was that Monzo do not seem to genuinely interested in feedback and improvements based on feedback. I found the attitude is that ‘we know what we are doing’. I am sure they do know but it’s just a feeling I couldn’t shake.
- I found Barclays App can do much more than Monzo App which was surprising to me. I know there are no instant notifications but you can see pending transactions as soon as you use your card and can view PIN in-app, freeze card, use pingit.me (like monzo.me) pay cheques in-app, chat in-app, call to CS will be connected without security steps if dialled via in-app and a lot more.
I would be interested to know if there is anyone else like me here who have switched away from Monzo.
I intend to use Monzo just as prepaid and will definaly follow everything they do hope they do well and make me wanna come back.