Turning off debit card top-ups for new users

yes a bit like brexit nobody gets to be happy :slight_smile:

4 Likes

I think my main concern when the issue was brought up on this forum initially was that forum users would not be representative of other casual users. People who interact on forums are usually more passionate fans of the company, be it Monzo or Starling (Revolut is an exception)- so I feel like there might be a false representation of what the wider user base wants.

If a decision has been made on Starlingā€™s forum quickly thatā€™s good for them since it seems to be becoming an unsustainable feature, but I doubt itā€™s really something decided by their community, rather, a top-down decision. I donā€™t want the same thing to be decided solely by just an hourā€™s vote on the Monzo forum either. Either Monzo makes a decision on their own or they make the vote available in-app so everyone is involved in it.

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Unless you can get an Irish passport :wink:

or a nice blue one :slight_smile:

Yeah, largely agree with this. When the decision was made about cash machine usage abroad, even a colleague of mine who uses monzo abroad was discussing it and heā€™s not on the forums.

He submitted his preference and that was that (he still uses the card)

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They did email all users with the cash withdrawal abroad to vote here if i remember correctly.

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Yeah they did, when the results came out some people blamed the forum/non-forum user divide or travel/regular card users for the result but Monzo staff revealed the option was still overwhelmingly for the Ā£200 fee-free ATM limit over the rest across all groups. So the vote did represent what most people wanted regardless of what type of user they were.

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I did not think there needs to be a vote. Weā€™ve had our say and they should decide what to do taking those views into account.
This has gone on a while so I hope they are able to put it to rest soon.

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weā€™ve had our say on the forum - only a small percentage of users - you wonā€™t please all the people all the time , and the inclusion of customers on business viability decisions risks alienating the people who donā€™t get their choice - would it stop most of those alienated from using Monzo - I doubt it - MAKE THE DECISION MONZO for your business

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Itā€™s it killing them, though?

Sure there is a cost they are bearing for a percentage of customers, but that percentage is reducing as they add more customers who donā€™t have the facility.

As long as the customers they are adding are profitable, the cost will be ever diminishing, surely.

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Unlike ATM fees, the majority of users on the forum have never topped up by debit card. Us making a decision for those who do doesnā€™t seem right to me :woman_shrugging:

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Well sure, there is that argument, but iā€™m a long time believer in ā€œYou canā€™t give one without the otherā€ (blame my Gran for that one). So why should new users miss out on features that are available to older ones?

Getting rid of it completely would make it a level playing field for all and eliminate something which is unnecessary.

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Ive topped up repeatedly as a convenient way to keep my balance up - Ive only recently been informed - in the last few months - by Monzo that it cost them money - I had no idea because Monzo offered the service - so I topped up - now I use FPS because I donā€™t want to cost Monzo unnecessarily however I do appreciate the top up facility in emergencies - I would pay for that

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If they want to consult their customers then it should be an in-app vote that pops up when you log on.

ā€œWill you miss the top up feature if we were to remove it?ā€
Yes/No/Whatā€™s the top up feature?

Only Monzo sees the results and makes a decision.

1 Like

Should Monzo remove the Debit Card top up option?

  • Yes
  • I want a Pineapple Pizza
  • I want cats!

0 voters

What about cats? Whereā€™s the option of ā€œCatsā€.

I DEMAND A SECOND VOTE.

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Do we know if the 3% fee covers any fees that Monzo encounter giving away the Ā£200?

Is the service cost neutral now ?

I would hope it even makes them money. The CEO didnā€™t even vote for that option, but that was the option people wanted (shortā€“termist over the word ā€˜freeā€™ or whatever ā€“ my opinion)

As a traveller, Iā€™ve gone to Starling to bear the cost.

As a shareholder Iā€™m very happy, as Iā€™m sure is the CEO.

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Hereā€™s my guess on Monzoā€™s motivation for this.

When Monzo was forcing people to upgrade to CA, they promised those people that they would be able to use the CA in the same way as prepaid. So they felt the need to reintroduce topups.

Monzo didnā€™t make that promise to future customers and so felt that they could drop top ups for those customers who had never had the facility.

So, in essence, they are prepared to support the reducing proportion of loss making customers they currently have in order to fulfill the obligations they made in the past to those customers. Itā€™s not good for a bank to renege on a promise.

As I said, thatā€™s all guesswork from me.

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I really want Monzo to allow us to vote on the total removal of card top ups. They donā€™t need to be chained to this prepaid era feature.

Let users vote. If the result means the end to the unnecessary cost of top ups, money can be invested elsewhere, the bank will see improvement and everyone will be better off in the end :grin:

1 Like