The Pledges & Investing

So if I don’t get an email I can be squeezed in at the end :wink:

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All this discussion about increasing or decreasing your investment, and here I am still waiting and praying for an email to give me the option!! :sob:

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forcing them to invest what they pledged or less.

I thought about that but it wouldn’t work because everyone could just pledge £1k (or whatever the maximum is) & then invest less later…

but the issue everyone is complaining about is Monzo letting them increase pledges after the date…so may as well all pledge 10 knowing they can increase to 1000 later

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This is quickly becoming the “I wasn’t picked and i’m angry / it’s not fair” thread that could easily be Predicted before they even opened for pledges. It could have been the “woo everyone owns a bit of monzo let’s bring everyone in the UK on board” thread but monzo were too ignorant about the whole thing and taking the view that you should consider yourself very lucky if you get a chance to invest rather than we want to get as many of these 100k early adopters to join our brand militia.

There will be a lot more moaning over the next few days as people realise they are in the ignored majority. :cry:

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Between this -

& the EU’s cap on the amount that can be raised through crowdfunding without a prospectus, I’m confident that Monzo tried hard to make this process as inclusive as possible.

I thought Tom’s post on the process was spot on -

I’d hope that rather than this thread being a place for people to complain about how the process worked this time - which is quite literally pointless, as there’s nothing we can do to change that now - users will continue to offer constructive feedback on how this process could be improved for next time.

Let’s all stay positive about this. The funding isn’t over yet and people still need to actually pay after the cooling off period. Let’s also not forget that Monzo is still being built and there are going to be a few more upsets along the way. It can’t be easy to build a bank and it’s definitely not easy to please everyone. But the popularity of Monzo is getting bigger and more people may want to have a share of success in the future. Yes, I will be disappointed if I don’t manage to invest in this round. But there probably be other chances and the Monzo team will be taking a lot away from this fund raising exercise to improve future funding opportunities. Whether I manage to invest or not I shall still be supporting Monzo by opening an account and promoting its future plans to create a modern forward thinking bank.

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everything Paul has just said

I didn’t think the thread had derailled, it was always “I’ve been picked, and I can invest more than I said I could… should I?”

In the simplest sense, if you do then you are removing someone else’s chance to invest; but someone else might’ve backed the max amount anyway. Or they might’ve backed out.

So honestly, I think there should be less enforcement of the T&C, but make it more defined that (a) you opt in to the ballot then (b) you pledge this amount - rather than the 1 click top-up interface. If the random selection isn’t going to take amount as a factor, what does it matter? If, however, selection was based on pools of ranges (say 200 people pledging £100 or less) then doubling is obviously going to have more of an effect.

More exciting might’ve been a lottery - your ticket is 62635, these numbers were picked for round one, round two etc. Instead it’s just silence for an untold number of rounds while not being able to see the percent rise without the hidden link that @investor provided: https://www.crowdcube.com/companies/monzo/pitches/qDm4El/pre-register

I have to get this off my chest; overall I’m pretty disappointed in the way that Monzo have handled the whole Crowdcube round. I think it honestly sounds if Monzo haven’t a clue with issues arising from Croudcube on the daily. What with being able to pledge more than promised and how no-one knows whether there going to be selected or not.

I know that there is zero point complaining now although Monzo are a great company who listen to their customers so I’m hoping everyone’s feedback is heard. I see a lot of unhappy people here and as this is a public forum, it’s not the best thing to be currently happening. :frowning:

I fail to see the point wasting time creating a whole way of being able to prove that the ballot was fair if people can cheat the system so easily afterwards. All that time creating a fair solution simply for show could have been used working on the product itself.

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IMHO we had a period to pledge by and during that time we could increase our pledge if we liked. But after that no increases should have been permitted (just decreased pledges if people can no longer afford as much). By letting people increase pledges while the ballot is going on it reflects poorly on Monzo and leaves a bad feeling.

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We are discussing if this condition was broken, as you gleefully pointed out that you can invest any amount (and doubled). But it’s more feedback pointed towards Monzo rather than yourself, so don’t take it personally :slight_smile:

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I’m curious as to how perks will be allocated to accounts? I didn’t pledge in app, I instead pledged on the Crowdcube website during the pre-registration period. The email address of my Crowdcube account [now] matches the one of my Monzo account (I’ve just changed them both).

When the time comes for the investor cards to be allocated, will I get one allocated even though I didn’t pledge in app?

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Hey Daniel. As long as the email matches your Monzo account, you should be fine. :slight_smile:

But what if you changed it back again?

Crowdcube is E-Mail A but Mondo is E-Mail B so I switched Crowdcube to A to pledge then switched it back to B.

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I don’t see any reason why the perks shouldn’t be offered to all investors, Monzo will know who you are, no matter what route you took to invest.

But I’m sure the team will give us a solid answer on Monday :slight_smile:

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If I’m not wrong, perks are early access to accounts and an “investor” label on debit card. I am sure that even if Monzo wasn’t 100% sure of the link between existing user/investor, because of different emails. They could still ask you/make the link at time of providing perks/opening account.

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Does anyone know the latest status as to how the pledges are going? What percentage has been taken up or left? Be nice if Monzo did a barometer on the site a bit like it did for pledges. Would put a lot of people out of their anticipated misery. :grin:

Yes, you can see that here -

https://community.monzo.com/t/announcing-our-22m-investment-round-and-crowdfunding/7618/150?u=alexs