Thoughts on “Premium” Bank Accounts

I mean - there isn’t much money in it right now. I can try to add some over a few weeks and do the flow again? Either way the account is new.

See what they say first.

If not - it’s £9.50 missed out on and a different DD required…

So, apparently they need an older account just to check your eligibility…so they asked for a recent statement, sent Revolut 3 month one over and it was approved in less than 1 minute…

@j06 I’ve asked them to check if the referral has still tracked despite the manual intervention…

I pay for Monzo Premium. I like the included travel and phone insurance. I really like the live transaction feed into a Google spreadsheet. I like the white metal card, dammit.

I can only have it until October 2024, when I shall turn 71 [sob]

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Is Premium barred at 70+ or is it just the insurance exclusions kick in?

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Wonder why there is an age restriction on Premium, maybe the travel insurance?

Definitely the travel insurance and concerns of mis-selling if one’s not eligible.

Absolutely travel insurance, most general policies have an upper age cap before they require a premium to be paid or alt insurance.

There’s probs no way to handle the extra premium to be charged within this service unlike others. The impact for monzo off this is likely minimal given the customer demographic.

Well, I can’t keep the account once I hit 71, in Nov 24, and I can see no reason for that except the insurance. And my health is such that I probably would have trouble getting affordable health insurance anywhere.

But it will have been a nice ride while it lasted :slight_smile:

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Does Nationwide still allow an age–premium for its packaged insurance for those over the age limit? You might try there…

I don’t want to leave Monzo and, as I said upthread, my age is starting to affect my health. I suspect affordable travel insurance would be hard to obtain on a commercial basis, and anyway, I wouldn’t be covered for pre-existing conditions on my current Monzo insurance.

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You can still have Plus, so whilst you’d lose the insurances, you’d still be able to use the export.

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As far as I’m aware, there is the option of paying an additional one-off per annum fee for the over 70s to cover the heightened risks. About £60 if memory serves me well.

The one-off fee would cover bpth the account holder and partner travelling if both are over 70.

Hope that makes sense

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