Turning off debit card top-ups for new users

FD, HSBC and M&S Bank use the same type of crappy calculator secure key :joy::joy::joy::rofl: because they are effectively the same crappy bank :rofl:

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I’m not sure what more I can add really.

You have the choice between a secure key (crappy calculator), and a DIGITAL secure key - Which is effectively replacing the crappy calculator, with the app on your phone.

You can only have 1 secure key - So if you have the calculator (and have that set up), you’ll have to call First Direct and get them to change it to your App.

So… The choice is yours :slight_smile:

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That ignores the cost of development and maintenance. And since monzo aim to reduce top up usage over time the effective day to day savings will reduce too. I don’t disagree with your thinking but I do think the cost benefit analysis needs to be much more complex

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And guess what? I agree with you!

Do you know what Monzo needs?

Courage!

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I take your point, but while the initial development cost might be high, I imagine maintanance costs would be negligible (once it works, it can be left to work).

Also, using their own software would decrease costs for monzo.me, which I think also counts as a ‘top-up’. With more and more customers using Monzo and therefore monzo.me, the reduced cost of monzo.me alone could potentially cover the costs of Monzo developing their own software.

I wonder if someone from Monzo could give us some rough numbers on current costs of monzo.me, development costs of writing their own software and the new cost per transaction of using their own software?

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That is correct. I’ll give you the setting up the payee for free. I don’t need the SK or DSK more than once. But it is still far more effort to log in to FD app than open Monzo and top up.

You have little idea I suspect how annoying it is to be asked what the issue is and then be poo pooed.

If I was an Crowd Funding investor my concern would be with no costly branch network and no costly atm network the bank is still bleeding money. How is this investment going to turn a profit?

That’s never the case in my experience, even if it’s just the cost of keeping people around in the pay role who understand that system well

Monzo representatives have revealed that it’s not used very much

If you can solve the problem accurately predicting the time / cost taken to create new software / hardware systems you’ll be rich!

More seriously, unless monzo have someone familiar with this sort of implementation they may well not be able to answer that :frowning:

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Actually I think it firstly needs a product to equal the competition and then outshine it with progressive modern features.

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That’s gonna be tough as the absence of high street branches makes it nearly impossible to equal legacy competition in some aspects of banking :disappointed_relieved::disappointed_relieved:

We have a very different definition of “far more effort” - Is it a little more effort to input a password? Yes. Probably about 3 seconds more effort - After that there is little to no effort involved in sending a bank transfer.

It’s not about “poo pooing” anyone’s feedback or ideas - But when pretty much everything you’ve said has been countered, it’s hard to take it on board.

“I need a card reader to transfer from FD to Monzo” - No you don’t.

“I can’t set up a new payee on my phone in the FD app” - Yes you can - With a DSK.

“I need a new phone with finger print reader” - No you don’t.

If I was an investor, I wouldn’t be worried about my money - The rate of growth that Monzo has achieved, the impressive reduction in customer cost they have managed from their pre payed days, and their future roadmap plans, all lead me to believe that my investment would have been very sound indeed.

I’m not dismissing the fact that you feel you need debit card top ups - I just disagree with your assesement :slight_smile:

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I don’t need top ups and actually I don’t need Monzo. I have been using it to protect my money when using on line transactions. I shall now close my account and the top up costs (from me anyway) will stop.

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No. Merely trying to explain how I had been introduced to Monzo and how I was now using the account and why. As the conversation developed I saw that I didn’t need to use Monzo at all. So my top up costs are no longer an issue and my phone will have 1 less app when CS get back to me.

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I’m glad you’ve found a satisfactory resolution :slightly_smiling_face:. I hope in future as monzo improves it eventually comes to offer you something again!

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Just food for thought here. If you do come back to Monzo, you may then be classed as a new customer with no debit card topups.

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You are right about one thing. If there is an available option to top up, you have right to use it. Don’t listen to anyone who tells you otherwise.

As I said, Monzo needs to be courageous and remove it if they are not happy with users taking advantage of it. The situation at present is just silly: “You can top up but we would prefer you not to. It costs us money”. :sweat:Time to sort it out Monzo.:triumph:

Everyone who comes to this forum to ask a question about card top ups gets the usual: “Why don’t you transfer money instead?”:unamused: This is not the way it should be…

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@Caanan I was with first direct for over 25 years and never used one of those. The app on the iPhone was all I needed.

Not all use compatible smartphones. Quite a few people are on unsupported OS and this where the problem is :frowning_face:

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But as Monzo want to be a bank for everyone, the reputational damage might be considerable?

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This is what I find hard to get my head around. They use monzo day to day as they clearly like it for some reason but still put up with the frustrations of their legacy banking app. We need to hear from these people.

Maybe we could inform them how much time they’d save a year by having their money automatically go in (via regular FPS or salary payment) instead of manually processing a card top up :thinking: . Could that convince them to complete a CASS?

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