Today we’re launching Monzo Investments 🎉

To add to this, could someone please provide ISIN for all 3 funds (Monzo don’t seem to want to make this information easily accessible prior to the sign up flow)?

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Yes sorry, my calculation wrongly assumed weekly deposits instead of monthly. My bad, I budget weekly so instinctively multiple it by 52 instead of 12 :sweat_smile:

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I don’t fully understand the entry fee. Normally companies are really transparent about this and the circumstances in which it will be charged. I don’t see anything here that tells you, but assuming it’s charged it could be quite the sting

Put £1000 be charged £50 for opening
Put £5000 be charged £250 for opening

A bit of a sting considering a number of other investors don’t charge you for setting up the investment fund. Can someone from Monzo confirm that this is the case please?

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I’d be really surprised if there was a 5% opening charge.

The 5% on the KIID applies to Monzo (or more likely another intermediary that is actually dealing with BlackRock), not to you.

(I’m not from monzo, but my job involves looking at these things every day)

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Is this a random roll out? I was in under 3000 and haven’t got in but people who signed up after me did

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It seems so, which begs the question … what was the point in joining a waitlist and giving out numbers.

One person on Reddit said they’ve been given access without even joining the waitlist which seems dubious.

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Totes legit then

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I dunno. Two people in my house are in the cashback trial despite never signing up for it. It just appeared for them a few weeks ago :man_shrugging:

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It could be, though. As the reply above relates, Monzo have been open in the past about how they also add people to the trial who fit some kind of metric they’re interested in learning from.

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Hi ive signed up to this but was wondering if there is a way to contribute to it directly from the joint account? I cant see an option to change it from the default personal account. Would like to avoid the faff of moving moving money from joint to personal to investment each month. Thanks!

I setup a monthly deposit as part of the signup flow but upon manually checking it didn’t set this up :frowning:

My other setup a monthly deposit and chose to transfer an ISA in… the ISA transfer was setup, but not the regular deposit …

Maybe a bug?

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Me neither. It seems to be only from the ‘Current account’ which opens up a whole new floodgate of questions - what happened to the ‘Personal account’?

This is a bit disappointing. I hoped there would be a low-cost index tracker fund option. A global index tracker will often only be a 0.1% annual charge. Instead Monzo have chosen one of the less desirable companies to work with.

I understand there’s an argument between passive and active, but I think most studies show that passive funds ultimately end up outperforming actively managed over the long term.

I’ve gone ahead and tried to set up an investment account just to test. It’s showing.

But I can’t see where I can edit the instalment now after it’s been set up, can’t even see a way to check the instalment or view it anywhere, just the investment balance.

Also unsure how I can transfer money into the fund manual now that it’s already been set up.

Anyone who has set one up can see those settings or buttons anywhere to make a manual payment in or to adjust scheduled payment?

Got to love this forum :grinning:

Monzo could be like “A free kitten for everyone!” and half the forum would be like “Why not a puppy?” lolz

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I hate cats.

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From a Monzo investor standpoint, this is great! They might finally turn a profit next year.