Monzo has been in the Irish market for a few months now, so hopefully anyone who is totally new to the product is getting use to it! As someone who only heard of Monzo when I started the interview process here about a year ago (I know!) I’m really loving it!
That said, it’s very early days in our journey here in Ireland, so I wanted to know if you had any feedback I can pass on to our product team and leadership - give me brutal honesty!
What are you liking?
What are you NOT liking?
What would you like to see prioritised on our product roadmap?
I have been using Monzo since March with the early access, to sum up your questions, I reallylike the interface, also the quick response from the customer service when I have needed them, it’s fantastic to have a real human answering. I also like the saving pots and payments service! And of course, the Monzo Community where we can share our opinions, problems and doubts!
Then, what I don’t like? Just small details, the lack of a web version of the bank, I really would like to be able to use a web version sometimes, even if it’s a limited version and the bank is mainly thought to be used on the phone. Another thing is that we can’t have PDF receipts of transactions, for example if I pay something with my card or I transfer some money to an external account, I would like to be able to download a PDF with that transaction statement. And for the moment, in my experience that’s everything that I don’t like, as said before, small details that are not really an impediment to use the bank!
Finally the best question, and that’s why I’m loving this bank, because the costumers opinion matters. What would we prioritise on the roadmap? Well, we understand that the bank is really new in Ireland and the Euro market, and that’s why it’s matter of time to have everything we want, and in my opinion, as an early customer, I’m gonna make a list of what I think I would like to see.
I think the first thing we all want are subscription plans with good deals, perks and thinking that it’s worth paying for them, like in the UK.
Then, I think some of us would like credit card options, and that would be great to use Monzo as only bank!
This would enhance the usage of the debit card (or possible credit card in a future), that is some type of cashback, or rewards.
Investment options, mainly with the new plan from the Irish government of implementing something similar to the ISA in the UK, but some investment options would be great!
Web app, as mentioned in what I don’t like, I think this would be important, but I don’t think it’s a main priority.
E-sim, I think this is great for travelling, and having in the bank you pay with, would be a great option.
And that in the short/medium term I think would be great. Then in the medium/long term would be great to have loan options, insurances and in the long term maybe mortgages?
And that’s all I can think about the bank, thanks for the opportunity of sharing our opinions here!
Very happy with Monzo so far as my main bank, after switching over last month my salary is going in smoothly and direct debits coming out with no issue.
Things I like
Being notified of upcoming direct debits, I know this is small but couldn’t get this on PTSB app so it’s a nice reminder of what’s going to leave your account.
Security features on the app are excellent. I have no worry about leaving a bulk of my salary in there despite what people tend to say about neo-banks.
Customer support was a large part of the reason I switched from PTSB to Monzo rather than Revolut. To have the option to get through to a human very quickly is important and the already excellent reputation of Monzo in the UK helped.
Salary sorter and pots are very good for managing money too that help me a lot.
What I don’t like - I actually wouldn’t go as far as saying I don’t like this but rather it’s a little annoyance to me so far. I have already touched on it in the Monzo Ireland chat as can be seen from Revels point above. It’s a little bit annoying that my salary is coming in 24 hours later than people with traditional Irish banks and hopefully the early payday feature can come here as Revolut seem to be able to pay early in Ireland. In saying that I’m paid monthly and have only being paid once into Monzo so far, maybe it was just a little late first time. I’ll report back next week.
Overall- very happy with Monzo and best decision I’ve made switching from the archaic Irish traditional banks.
Overall thoroughly enjoying Monzo. My previous setup was salary paid into EBS (just felt safer) and topping up Revolut on a weekly basis for day to day spending. Having now largely dropped Revolut and completely EBS and having my salary paid directly to Monzo, my feedback is:
Good:
User interface is unrivalled and generally just works.I hated the fact that Revolut was littered with adverts, upsells and crypto. Monzo feels more authentic.
Most importantly I trust it. I never trusted Revolut (rightly or wrongly) because of media reports of random account closures. I trust Monzo because of your pedigree.
For improvement:
Not being able to set direct debits and recurring payments to come directly from a pot is just not ok. This is a very very basic feature that Revolut have nailed that enables easy budgeting. I’m working around it by scheduling payments to a pot and then back out but it’s messy and seems counterintuitive to the point of having pots in the first place.
Support has been generally ok but a little bit ambivalent when raising certain issues/feedback. I think there should be more of an effort made to build trust and welcome the fact people take the time to contribute feedback.
Salary arrives later with Monzo then it did with EBS
Hot Coral isn’t for everyone. I appreciate you’ve made it part of your brand but taking out out a card that looks like it was designed for a child can be embarrassing. Maybe consider a more premium looking card when you introduce paid plans.
Other feedback:
This one will be a tough one to crack I think. I am still paying for a Revolut plan to have the benefit of co-parenting access. Monzo offer this but my son is categorical that he wouldn’t be seen dead with a Monzo card because all his friends have Revolut and he doesn’t want a bright blue card. Will be interesting to see how Monzo can build a footprint in making themselves “cool” for their next generation of customers
Not being able to set direct debits and recurring payments to come directly from a pot is just not ok.
Hi @djorl it took us a while to get this working but you should now see the option to do this from regular pots in the app. If you’re still having difficulty with this I’d love to hear more about your experience and see what we can do.
Thanks for the reply. Not seeing this option, I have tried both editting a scheduled payment and creating a new one and the only option is to “pay from personal account”. Running latest app version
Sorry to hear about this @djorl ! When tapping into a scheduled payment you should see this “Set payment from a Pot” option. If you don’t see this please make sure you’ve updated to the latest version of the Monzo app. If that doesn’t work, please reach out to our support team via Help in the app and we can look into this further for you.
