Today on Android I was looking at my ATM history, and I noticed when I clicked on the transaction there was a link for “Thoughts on ATMs” in the middle of the screen, just below the new ‘Repeating Payment’ option.
I think this link is new, although maybe I just haven’t noticed it before somehow.
When you click on it, you get taken to a spiel about how it costs Monzo money to withdraw cash and we should use the card in shops instead wherever possible. It asks that we help Monzo “build a sustainable business model”.
I can’t help but feel that if Monzo wants to be taken seriously as a bank, the requests for customer goodwill in this manner should stop. With Alpha and Beta prepaid cards, Monzo were able to kindly ask this strong, supportive community to help them out a bit. Now, by Monzo’s own declaration, they are a fully fledged bank, customers should in my opinion not be asked to watch their usage and change their habits to help the bank’s bottom line.
It’s my bank account, holding my money. Often I need to lift cash. I personally understand why Monzo ask this, but if you want to expand your customer base to the less fintech savvy, this is the kind of thing I imagine would turn off the less convinced. I believe it’s cheapening Monzo as a brand.
I can accept it. If I convince my parents to switch to Monzo, I feel like they would read that statement incredulously.
Possibly controversial, but that’s my two cents.