Really interesting concept. One to definitely ponder over and see if itās workable
I think itās a bit disappointing joint accounts are ignored but this could potentially be a good workaround. Admittedly not how Iād want to do it.
But it means we can keep custom categories, I can keep my incredibly-important-to-me-dashboard, pots and cards for takeaways, food shops and then whatever is left in the account is mine and what she doesnāt transfer is hers.
But Iād rather just use a joint account like I should be able to.
(Sidetrack, Soz!)
You can add the virtual cards to curve. This is a game changer and Iāve moved everything back to monzo now!
You always could! It was the sneaky workaround!
Didnāt know that, but to be fair the virtual cards when launched didnāt appeal to me. Now you can pay from a pot, itās ideal!
Well, wellā¦ reminiscingā¦
Theyāre definitely passing by all the revenue opportunities that we chewed over, arenāt they?!
Maybe weāre hacking the features beyond what the target-market would do?
Probably!
I like to think what 4.0 might lay the foundation to do more innovative product stuff though.
Whether theyāll be entrepreneurial enough, I dunno. Agile development is often the cult of user research, rather than taking an educated punt. And the bank is pretty risk averse these days.
But - if it were me - Iād throw out a whole bunch of products and see what sticks. Starting with Ā£1/month connected kids cards.
I wonder if theyāll make it where you can order a physical virtual card for a small cost (I can think of many reasons some include travelling so you can leave your real one at home or give a virtual to someone else such as a child and have it linked to a pot)
If they do I reckon itāll only be Ā£5 since thatās the cost for a replacement card
I would say this, wouldnāt I, but I still think a community product board would be an excellent idea. As would a crowdfunders NED on the main board.
I really think they ought to do this.
Revolut has made quite a bit from different designs. I think Monzo could do similar - both for the collectors (even if that sounds odd) and for additional physical cards for pots.
Tenner a card or Ā£1 extra on a paid subscription, maybe.
Subscription always. Forecastable revenue.
I paid Ā£4.99 for a Revolut kids card to test it. It didnāt work out - but thatās a good yardstick on what (most) people may pay for a physical card. A one-off cost though.
Yeah. But donāt forget weāre the customers
To be fair, at least on TfLās network, Iāve not had a problem with this for as long as Apple Pay + Monzo has been a thing.
And with the Express Transit option in iOS, I believe you can still scan a card even with a dead battery
Express Transit all the way. So quick and simple, and can confirm it works even with phone dead for a decent amount of time.
Iāve been trying to keep up with this thread, skimming throughout the day, but is anyone able to summarise a few things for me please?
Cards can only be added to Apple Pay if theyāre linked to a pot?
Cards can only be linked on creation?
Canāt be de-linked after the fact, or linked after the fact?
Assuming these are intended restrictions for the full feature release, are they something Monzo are planning to address? Otherwise itās going to be a bit of a pain getting everything set up and managed properly.
What happens when linked cards expire?
Also, assuming I understand the way this is implemented correctly, am I right in thinking it would now technically be possible to associate merchants to pots irrespective of virtual cards?
Apologies for being a @Peter_G, but I too am just very excited at Monzoās approach with these features lately. Everything seems to be designed with potential future adaptations in mind, and Iām loving that. Gets me excited for what might come next, but makes it hard to take a moment to properly appreciate whatās already been built!
Ahem.
Yes
Of the pot? No
But you have to create the card to add to the pot. You canāt link an existing card afaik
Link another I guess
Not that I can see unless you delete the card
I donāt understand what you mean