I’m not sure if it’s me not understanding some of the comments here, or whether people just aren’t reading the detail set out in post #1? But the fund fee and the platform fee mentioned are quite transparent. Everyone talking about platform fees being less elsewhere - what are you paying in fund fees? It would be useful to have a more like for like comparison for those interested.
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I was 100% excited about this when I joined the waitlist. Then I read this thread and learned who Blackrock are. No thanks, I’d rather use my money for good, not to profit from the planet’s destruction.
Really not a good look for Monzo.
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When I have show balance on with investments it adds saving balance together at the top it’s all messed up
For me like other posters, I don’t want an investment account I can only access on a small screen.
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The Monzo offering has a competitive fund fee (provided it’s not hiding fees on the sub-funds by being a fund of funds), but the platform fee Monzo is charging is expensive.
For instance, you could go to HL (which isn’t known to be cheap), open an ISA, and pay 0.12% for a global index tracker: Fidelity Index World (Class P) Accumulation Fund Price & Information (there are no platform fees).
Or you could invest in the exact same Blackrock range of funds, pay slightly more (0.17%), but still pay significantly less than the 0.59% overall: BlackRock MyMap 6 (Class D) Accumulation Fund Price & Information
So it basically comes down to whether you think 0.42% extra is worth it for the convenience. If you’re investing small amounts at this stage, it’s probably OK as an introduction, but it would be silly to do it for larger amounts when it’s not exactly a huge inconvenience to open an account elsewhere. Over time, higher platform fees start to eat into your growth.
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Indeed. Probably, if you’re new to investment or have low funds to do so, this is a great start and I’d imagine will add value for most people who try it.
I’d doubt that serious investors or those with significant funds would use a bank investment service anyway.
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There’s a 0.45% platform fee for a S&S ISA with HL. It’s capped at £45 p.a. if your ISA contains only shares (and/or ETFs).
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I don’t understand this hiding fund fees suspicion/concern that’s been discussed in some of the recent posts.
Multi-asset funds (like this BlackRock fund) are comprised of simple tracker funds bundled together. The component tracker funds will be cheaper than the multi-assett fund. The difference in fee between the component funds and the overall fund is essentially the compensation for the fund provider for managing a convenient basket of funds so the investor doesnt have to choose and rebalance multiple components of a portfolio themselves. I’m not sure what’s so suspicious or nefarious about this.
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That’s not always the case, but glad someone has checked that out.
Any update on roll out? 
I cannot sign up for investments. Not even the waiting list. When i reached out to monzo they abruptly shut me down without reason simply ‘we cannot offer you a investment pot at this time’ it was that abrupt i believed it may have been a chat bot. Whats the eligibility? Anyone seen this before?
No chat bot, generally just copy and paste responses.
I don’t get the option to apply or sign up, I have been in overdraft for a while.
Are you behind on loan or flex payments? Always in your overdraft? Perhaps they think your outgoings are more than incoming? I’m not sure anyone knows the criteria.
Only Monzo would be able to tell you tbh, but looks like they use general affordability assessment.
Eligibility and conditions
To open and maintain an Investment Account you must:
- be 18 or older
- be resident in the UK
- not be subject to taxes in a jurisdiction which creates tax reporting obligations for Monzo, other than the UK (like the United States of America)
- have a Monzo current account
Our Investment Services aren’t right for customers who are in financial difficulties. We’ll ask you questions to determine whether you’re in financial difficulties when you apply.
You must complete any application form or transfer form, and give us any information we reasonably ask for. You can only use Monzo’s Investment Services for personal use.
I think the overall position is simple.
Sophisticated and experienced investors will already have funds on other platforms and be well versed in how the system works. I imagine those people are not the target. Anyone with the income to max their ISA allowance each year is more than likely already getting some financial advice somewhere.
In my opinion this is designed to target those that do not already have any investment strategies in place. This is a starting platform. By making it incredibly easy to set up and manage for new starters you’re creating an access point for many that would have otherwise just gone without (due to ignorance, or laziniess).Some growth and ISA usage is better than none.
It does facilitate transfers in, but I suspect unless there are long term plans to reduce costings and open up the investment options, Monzo are aware that long term they’ll lose investors once they develop a larger portfolio.
Its an additional revenue stream, and string to their bow - and it doesnt require them to overdevelop and try to compete with those that are already market leading.
All said and done - I like the expansion theyre offering, and as someone in financial advice - Im glad to see improvements to allow easier access for all levels.
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Hello Rob.
No dont have a overdraft, account is healthy no defaults etc etc. Which is why it was strange. They wouldnt even tell me the eligibility. Just copy an paste responses as someone suggested above. Thats why was so strange 
Cheers. I did question them but other than telling me they cant offer me it. They woudntt tell me anything at all
Just found it odd tbh. I have stocks isa with HL so maybe its something to do with that but support not been helpful at all.
I can’t imagine they’ll be allowed to tell you.
It will be similar to overdrafts, joint account applications, loans etc. Banks typically don’t share the criteria, just a generic ‘sorry we can’t offer you this at the moment’ message.
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Review of Monzo Investments containing links to various articles that people may find useful (e.g. articles on fscs for investments, esg funds, active vs passive investing, etc). The review is broadly positive taking into account the likely target audience.
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Is there a way to pay your regular investment from a bills pot? I can’t see the option to change payment from personal account.