I’m not sure how this is linked to the marketplace?
So I signed up with Octopus via Monzo marketplace. As mentioned above it just seems sort of recommended products page than a Marketplace at the moment. I thought Monzo App would at least recognise that I have gone ahead with Mozno recommended product and completed a sign-up but there was nothing. I would say it’s not yet a Marketplace Beta, more like early Alpha.
I would be keen to see how this will evolve and find it’s proper place within App.
I think at this point in time its best to keep providing that feedback
When I looked at the market place nothing realy grabbed me but like everyone keeps stating it’s early days
I’m literally just going through the motions and providing feedback rather than applying for anything
The marketplace is a great idea. I switched to Bulb Energy recently and testers of the Monzo Marketplace can switch from within the Monzo app and Monzo get £25.
However if you are not yet able to test the marketplace, and want to switch to Bulb renewable energy and save some cash, and earn £50 for switching - feel free to use my referal link bulb.co.uk/refer/nick3188
Didn’t find anything of use to me at this moment in time. Perhaps once the market place grows.
Didn’t really understand why there is a savings market. Surely if Monzo wants to be a real banking competitor they should offer their own savings accounts in the near term and even maybe a credit card in the long term.
They won’t fit the old definition of a bank that’s true
If they offered their own products (they won’t offer credit cards & as fair as I know, they don’t have plans to offer savings accounts), we’d miss out on these types of benefits -
I signed up to Pensionbee having been prompted to the offer by Revolut. I’m glad to have discovered Pensionbee through them as I don’t think I ever would have otherwise. This is the some indication of the potential of a Marketplace to enhance financial management. With Monzo’s they’re very clear that this is a basic beta (admittedly I wasn’t expecting it to be this basic as to not at least have taken Revolut’s approach with the dedicated sign up affiliate pages) but I’ve just discovered Wealthify & WealthSimple through Monzo which again I wouldn’t have otherwise.
The utility of the Monzo Marketplace will increase tenfold when it evolves with advanced app integrations, which I’m hoping will be before yearend as competitors such as Starling appear much further ahead in this area.
A good concept, but these products don’t appeal to me.
Fair enough, there’s lots more products coming
It looks like Ratesetter’s products just got added to the savings category in the Marketplace
I don’t suppose anyone knows how Monzo is making money on the savings and investment products do they?
On the energy products it specifically states that they get £25 (I switched to bulb earlier in the month using this) - but on the investment stuff it just says “we don’t get paid if you sign up” - presumably these accounts are on a profit share %?
I don’t think they are right now, they’d just have a different message if the revenue model was different. They’re being transparent about what they’re earning regardless of what the product / agreement with the provider is.
I expect they’ll add referral fees once the testing’s finished
Gotcha - thanks Alex!
It’s unclear to me as a user, whether the services offered will show up in the Monzo app once I sign up (eg. a savings account balance) or if these are merely affiliate links.
The same lack of clarity applies to Starling too.
I guess it’s simply affiliate but it’d be good to be clear to consumers up front.
In it’s current form, it is just a list of links. But the plan is to be able to manage it all from within the Monzo app and see all your balances there too.
Note how it takes nearly 30 secs to load also towards the end I can’t scroll up or down.
Happened a few times now
Looking at the scrollbar, it looks like you were scrolling just fine and were able to see the whole scope of the page. Or have you seen that page before and there should be more content? In which case it might be the loading of the whole page timed-out half-way and you got as much as could be downloaded/made available to view?
Everything loads fine, it scrolls to the top and bottom of the list fine then note how the categories bar ‘sticks’ to the list so I can not scroll up or down around 8 seconds in
Monzo has now removed the savings and investments categories from the Beta, citing the need to make some bigger improvements than usual in the near future.
Any thoughts from the community on this one?
Pretty much the two things that I would use the Marketplace for so… not great as it currently stands.