The Monzo Current Account Preview

Haha I’ve not seen the numbers, was one of the first on the alpha. So I reckon that’s where my luck ended lol

IMG_8505

7 Likes

Still 345k of us waiting for the current account then

2 Likes

Thanks Leonard, you were beaten to it by about 30 seconds in the end but I really appreciate you grabbing this for this :pray:

Shout out to the guy in front of you taking the photo too :wink:

3 Likes

Haha damn- pair that with having a cold and @anon50039658 giving me an empty envelope today probably wasn’t my day! :sweat_smile: IMG_8506

9 Likes

Event was great - really good to hear open and honest words from Tom and the vote on foreign ATM fees was a great idea even if I was in the minority!
Have my coral current account card and am just waiting for the ID verification queue…

5 Likes

What did the majority vote for?

1 Like

In regards to overdrafts? About 70% option 1, 10% option 2 and 20% option 3

1 Like

Thanks for that… what were the options?

3 Likes

I would love to know this too, they never had any vote when I picked up my card so must be a new thing :joy:

1 Like

4 posts were merged into an existing topic: Will Monzo Continue To Offer Free ATM Withdrawals?

I’m confused. We got the outcome of an overdraft vote but no detail on the options. And the options of an atm fee vote but not the outcome. :man_facepalming:t2:

4 Likes

We have no outcome or vote yet (officially). The team are trying to work it out still.

1 Like

Hmmmm, I’m sure there will be a poll on here in the future, so I won’t say what I would of voted for at the moment, but its a hard vote to make.

My understanding is both the overdraft and ATM fees will be put to the community once they have a little more data and can offer a few options.

If @tommy5dollar was at tonight’s event then he meant ATM fees not overdrafts. There was no vote on overdrafts tonight.

5 Likes

Thanks for clarifying.

I wouldn’t mind 5% outside EU but if EU not free like UK then I would not consider the new Current Account…and will see what Starling offer (despite their app)

Great report, looking forward to be able to use the current account (like my fellow community members). :grinning:
Keep up the good work.

One of the biggest draws to Monzo was not being charged for taking cash out abroad, if that then suddenly comes into place I wouldn’t see a huge draw to moving my current account over.

I can see however the issue when 16% of users incurr 85% of Monzo’s foreign ATM costs. So if their transaction in some remote country costs £5 they should cover the cost. If it is in EU which cheaper I would expect it free, but maybe a limit of 5 or 10 EU withdrawals free a month otherwise a charge, to stop abuse by those there long term