Hey everyone, I’m Andy - General Manager for Saving and Investing at Monzo and I’m here to share some news about our launch of Investments, which as you know we’ve been working on here.
Over the last year, we’ve been speaking to customers to understand their pain points around investing. Our research found that “getting a return on your money” was one of the most important yet underserved “jobs to be done” amongst our current customer base. At the same time, many people told us that whilst they know investing is important, they found the jargon and complexity of existing investment products intimidating. And with the overwhelming choice of investment options out there, it’s tricky to know where to start.
We wanted to solve these problems and specifically help those who are new to investing (or passively investing), grow their money without needing to know the ins and outs of how financial markets work.
Today we’re launching Monzo Investments 
We want to get rid of the barriers that prevent people from investing, making it simple, affordable and delightful through the Monzo app. You’ll be able to choose from 3 ready-made funds from our partner BlackRock. We’ve chosen to work with them for their expertise as one of the world’s largest fund managers.
Create your Investment Pot 
This sits alongside your Savings Pots and you can start investing from £1.
Set up a regular investment, edit or cancel it whenever you want, and make withdrawals back into your account.
You can invest into a Stocks and Shares ISA, or a General Investment Account if you already have an ISA elsewhere - you can also transfer an existing ISA over to Monzo.
Simple and transparent fees 
You’ll pay a 0.59% of your investment value in fees each year, billed monthly (that’s a 0.45% platform fee, and 0.14% fund fee). If you invested £1,000 that’s 48p each month (assuming no growth or withdrawals).
If you’re a Plus or Premium customer you’ll pay 0.49% (that’s a 0.35% platform fee, and 0.14% fund fee), which works out to 40p a month with £1,000 invested (assuming no growth or withdrawals).
Learn as you go 
We’ve incorporated key investing essentials into the product experience. While you don’t need to be an expert in investing to get started, we want to help people build their knowledge and confidence as they go.
Register now for early access 
We’re inviting people to sign up to the waitlist from today. You can get started with our bite-sized topics on investing essentials for now, and we’ll be letting folks in over the coming weeks.
You can sign up in the new Savings & Investment area in your app.
And in the meantime you can find out more on the website.
The value of your investments may go up or down. You could get back less than put in.
Let’s use this thread to gather your thoughts and feedback – and the team and I will be around to answer questions.
(just wish I could swipe through those educational flows instead of waiting).
