The Monzo Extraordinary Ideas Board!


(Naji Esiri) #1

We’ve had a lot of fun sharing our extraordinary ideas, now it’s over to you! Send us your extraordinary ideas!


(Thomas Welton) #2

Do you think enabling the vote plugin for this board would be a good idea so people can give feedback on their favourite extraordinary ideas?


(Dimitri Masin) #3

Agree, votes would be very interesting to see! Can we enable that?


(Naji Esiri) #4

Great idea! I’ve just enabled them :+1:


#5

Wow, some of these look amazing!


(Gareth) #6

I scanned in vain, so here’s an extra column suggestion :wink:

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  • Custom Categories

(Steve Edson) #7

Here’s another one for the list (when current accounts launch)

Have virtual ‘pots’ / ‘wallets’ (however its named. When my salary gets paid, split it between the pots,

e.g. if I get paid £500, take £300 for bills, £100 for a holiday fund, £50 for clothes and £50 for games etc.

Each pot should be configurable as either an amount or percentage.

These figures wouldn’t actually affect the amount you can withdraw, but would seriously help with budgeting etc.


(Tristan Thomas) #8

@steveedson: You’ll see that’s actually on the real product roadmap :slight_smile: We’re going to do it, not just a far future idea!


(Steve Edson) #9

@tristan Didn’t spot that. Man I love Monzo.


(Marta) #10

Idea:
In light of constant ‘how about Monzo and X country’ - compile content from forums and create insightful, yet short and handy, info within the app. Could be a panel somewhere “Holidays? Check community’s tips&tricks!”, where it would then ask for country and display what people wrote. Ideally could be sourced directly from forums (less maintenance) and allow to ask more questions.
Could be useful for those who didn’t go as far as reading community pages. :slight_smile:

Maybe even go as far as grading countries based on Monzo’s usability - green (easy to use anywhere), orange (some problems), red (bring hard cold cash). Display colours on world map, show number of posts/comments/opinions and allow to click through from map to see more about country.


(Mike Fuller) #11

@naji Great to see the Ideas Board. I did suggest showing your balance in local currency in the App when abroad so you easily know how much you can afford to spend. It would be great if that could be added please.

Good to see that you have “Monzo for teenagers” on the list. Related to this and an industry issue is including dates of birth on contactless cards so the terminal can determine if the user is entitled to age related discounts. At the moment you can use contactless on TfL but won’t get any child fare even if you are entitled to one. Visa and MasterCard etc. ought to add a date of birth to the contactless data. This would not only allow age related procing but could help reduce fraudulent use.


(Naji Esiri) #12

This is really great @ninepine :raised_hands:

Just as a heads up, we had a few teething problems enabling the vote system, but everything is working fine now :slightly_smiling_face:

Looking forward to hearing more of your thoughts!


(Kevin Dickinson) #13

So should we be able to vote? Can’t manage to using an iPad to view.


#14

Have you signed in to your Trello account first before voting?


(Kevin Dickinson) #15

Ahh no that was my mistake


#16

and I suggested you could display a second currency of your choice any time even when not abroad. Scenarios where that a benefit include a new resident in UK getting used to GBP and wanting to see it in home currency, persons with residencies in multiple countries, or persons with family in more than one country


(Mike Fuller) #17

In terms of the suggestion to "collect “preferred name” during signup in addition to “legal name” https://trello.com/c/DynA4wcd on reflection I don’t agree. Yes you should be able to give your preferred name but not at sign up. The reason I say this is two fold.

First sign up should be as simple and straightforward as possible.The problem with Bank sign ups is that they try to cover lots of different scenario (to cross sell) ending up with a request for masses of information. This is off putting. Monzo should only collect the information they need at sign up to set up the account and issue you with your card. For instance how you want your name to appear on the card (And if you want your name on the card at all).

Second I would suggest that the place to say how you want to be called is in the Settings of the App. This is both to keep the sign up really tight but you may also want to change how you are called over time. This also applies to other information you may want to give like your preferred monthly statement and monthly spend analysis dates both of which you may want to change over time and are best collected via the App “Settings” section.

In summary keep sign up to just the minimum but allow flexible customisation via the App in “Settings” or similar once the account is open.


(Naji Esiri) #18

I agree, we should keep the registration/onboarding process as streamlined as possible! Sign up needs to be as straightforward as other features in the app, and this includes keeping the amount of required at sign up to the essentials only. :+1:


#19

Great! Finally a place for the crazy ideas!

Lending/Saving idea - Liquid banking.
Instead of the balance being stationary until a payment goes in or out (boring list of credits and debits as it has been since the Medici) - give users the option to drip a payment over time and have their money in constant motion. E.g Direct debit of £30 taken on 1st of the month - Merchant gets their money as requested but from Monzo instead of account. Monzo break the 3000pence into the seconds in that month and drip the repayment each second so balance is in constant motion. Monzo could charge interest on the average amount owed during the month. Likewise you could drip your salary in so instead of getting the lump sum at end of month Monzo could grab it and drip it in over the month - interest paid to user on the average credit during the month.


(Mike Fuller) #20

I really don’t understand what this would achieve other than a very long statement with a balance changing every second. What is the benefit?