Most investors would possibly disagree with you. Let’s take your argument at face value. What do you suggest that Monzo uses the money it saves from creating a investor card on?
In saying that I’ve just had another thought. Plus customers get a choice of card as part of their subscription. So is that a bad thing as remember you said the money used on the above should be spent on other things. Remember when you answer this users pay Monzo for the privilege of having new card designs and a custom Monzo me name.
Agreed. I passed my card across the table to a trusted friend who was getting a round in and it sparked a bit of an ‘oooh’ chat between 3-4 of us around Monzo, what the investor card meant, and why I had chosen to invest. One of the chaps is thinking about signing up and, whilst I can’t say it categorically swayed the balance, it felt more due to the fact I was passionate enough to invest, over and above ‘just’ being a product user and therefore the recommendations came across as possibly more sincere.
Most investors would possibly disagree that’s a very certain statement.
Simply my opinion and as I don’t know Monzo’s business model I couldn’t guess what they should spend the money on I just feel it’s a waste of plastic time and resource.
To add some context Gemma I’m an investor and a ‘plustomer’. I only got my investor card as my regular card was split. I didn’t get the plus card. I also won’t be getting the investor plus card unless I need a new card.
For those who are paying for the option, and choose to, then that’s their prerogative I guess. I would encourage people not to use the extra plastic ‘just because’.
The different cards are talking points though, and I can’t argue with that.
I couldn’t give a shit about poxy plus cards or metal cards etc, I actually don’t care about any new cards they are a waste of money and pandering to the need of the fantics of Monzo.
Spend the money on fixing customer services and fixing merchant details on the app for starters.
EDIT:
Yes I said a swear word big deal get over it we are all adults here.
Also yes, there are many other things Monzo could spend the money on that would benefit everyone. New fancy schmancy cards has no benefit to every customer of Monzo. Yes I am a Plus customer, no I don’t have a new card because I’d rather they invested time/effort/money into improving Monzo as much as possible.
Same applies, it’s a gimmick, and spending time/money/effort no card designs right now seems like the wrong business choice. I know it’s a balance and a lot of this is marketing which is a good thing for Monzo as they build their business but I think the Hot Coral cards are all the marketing they needed in this particular space.
But I’m not an investor so what do I know. Shutting up now lest I get flagged again.
Can someone please please please explain the fascination in having a metal card…
Does showing off a piece of plastic/metal to a cashier that you will probably never see again really get you that excited you are happy to pay for it?
Have you never heard of Apple/Google Pay?
Seriously what is it with you guys that you require such a pointless item?
I couldn’t think of anything worse tbh, Apple Pay all the way and if not then fine the card comes out. I’m in a rush so would rather not converse with a random about a stupid bank card.
As I sit here with my Dyson Hot+Cool blowing on me (which I’ve never had on hot), I am struggling to justify why. I also hardly ever use my Monzo card as I have Tandem.
It’s likely that the resource they use on developing this range of cards isn’t resource they’re necessarily taking from elsewhere - I wouldn’t imagine it’d develop this, or a new feature set for the app for example.
I’d also suspect the time and resource to do stuff like this is not significant, given they already have ongoing work around card quality anyway.
And there’s clearly a population of customers who do care and have an interest. That ‘pandering’ is likely drawing in customers, and revenue streams.
