Upgraded to the Current Account? Share your story!

(Richard Cook) #1

Hi everyone :wave:

Last month we announced that we’re planning to close the prepaid card programme in April. So you’ll need to upgrade to a current account by then to keep using Monzo.

Hopefully you’ve done this already. And if you have, we’d love to hear your story! :raised_hands:

  • Why did you upgrade?
  • Which features do you like about the current account?
  • How was the upgrade process?
  • What would you say to people who haven’t upgraded yet?

We’re looking forward to hearing your stories :books:

Community Roundup - 16/2/2018

I upgraded in the hope it becomes a proper account eventually with IBAN and SCT.

The thing I like(d) about the account was going straight into a full page of transactions unlike Starling with their graph (but now this has been spoilt by Monzo forcing Pulse on us with no ability to turn it off)

I would say to those who have not upgraded, just do it (sorry Nike), it is like a prepaid card with added optional extras. You can use it like a traditional bank account if you chose to use an overdraft, if not just keep using it as before.

( related to Monzo CEO, Investor in Monzo ) #3

Why did you upgrade?
Why wouldn’t I ? it gives me the same control and reporting of my money as the pre paid, I can put in as much or as little money as I want to have available as and when I need it.
Which features do you like about the current account?
Instant spend reporting, faster payments from my other current account, instantly paying other Monzo users
How was the upgrade process?
It was OK - didn’t particularly like doing the video section :slight_smile:
What would you say to people who haven’t upgraded yet?
Its virtually the same card with the same facilities - it doesnt cost anything to do

(Change Works) #4
  • I upgraded because the prepaid account was going to close

  • I basically like the features of the current account which were present in the prepaid account.

  • I found the upgrade process to be really easy and friction free.

  • If you want to use your card after 4 April, upgrade, or find another prepaid card.


I actually didn’t upgrade. I was one those few thousand preview users. My intention was to use Monzo as my main bank account for everything but the novelty wore off after 3 months I guess hence this.

Obvious one is, of course, instant notifications everything else was very very basic (Android user)

Just like our CEO relative @iansilversides :wink: not a fan of selfies and videos but compare to any high street bank this was just quick, easy and paper-free so overall good.

Just do it :white_check_mark::heavy_check_mark::ballot_box_with_check: because :mondo: has potential to be a brilliant company and they seem to be going in the right direction. Despite all my reservations, I am really hopeful that this company will change banking in this country forever and you wouldn’t wanna miss the journey.

(Kevyn) #6

Why did you upgrade?
I upgraded because I wanted to try the experimental new features which will make the Monzo current account stand out from the rest.

Which features do you like about the current account?
Instant notifications and not going below £0. Future features really interest me, but they are not available right now.

How was the upgrade process?
It involved an 11 hour, £100, 400 mile round trip to London on 2 trains, 2 trams, and 1 underground train, making sure to arrive at the Monzo office at a set prearranged time.The upgrade process has improved since then!

What would you say to people who haven’t upgraded yet?
It’s exactly the same as the prepaid card.

(Kieran McCann ) #7

Why did you upgrade?

The initial thing that got me hooked on Monzo was the simple instant update on spending, not having to wait days for a transaction to show up.

Which features do you like about the current accout?

Having the transaction feed show merchants names and logos instead of just seeing a bunch of numbers and letters is great.

Having the ability to track where my spending is going even though its a little off because we can set start/end dates yet is also great, i’m ashamed to say i had no idea where a lot of my money was going with my previous bank.

How was the upgrade process?

Seamless? I wasn’t a huge fan of the video aspect (shout out to all you other self conscious people) but i sucked it up and did it anyway. My video/paperwork was accepted in like a few minutes after completing the process.

What would you say to people who haven’t upgraded yet?

Just give Monzo a try because i can guarantee you that you’ll never look back.

(Kenny Grant) #8

That’s funny, I switched the other way from Barclays to Monzo (still have Barclays accounts, just don’t use them much). The Barclays app is really pretty good - I’d say they’re a close competitor and have shamelessly stolen ideas from monzo like freezing cards so they are improving. Still feels like a legacy bank tho - upselling everywhere, horrible clunky rewards that make you use a special referral link to shop, mortgage offers etc. I think the as yet inchoate marketplace idea is what could really set monzo apart, and is partly why I moved to them, as they don’t want to own your financial life, just be the nexus.

Which features do you like about the current account?

There wasn’t much difference between prepaid and CA which is probably a good thing?

Re Monzo - a nice clean feed with icons etc, being able to categorise transactions easily, and most being auto, instant notifications, chat support (excellent idea, friendly staff and the best banking experience by far), and a bank which is transparent and mostly responsive to user feedback.

What would you say to people who haven’t upgraded yet?

To existing card users - come on in, the water’s fine, it feels and works exactly the same.

To new users unless you’re with Barclays it’ll be light years ahead of your current bank.

(Geoff Pascoe) #9

Why did you upgrade?
I upgraded from the preview in November, mostly to make it easier to transfer out my remaining pre-paid balance.

Which features do you like about the current account?
Compared to the pre-paid, the best feature is support for faster payments. Overall the best feature is access to a small amount of fee free cash from ATMs when overseas.

How was the upgrade process?
Very quick. I literally did the upgrade whilst waiting for a guy at Metro bank to photocopy some documents to open a joint account.

What would you say to people who haven’t upgraded yet?
If you want to keep using Monzo, you have no choice. Your nice minimalist app will get a bit cluttered, but your usage pattern doesn’t need to change at all (unless they introduce fees for debit card top ups).

If you don’t like Monzo or have stopped using it, it’s much easier to transfer out any remaining balance once you’ve upgraded.

(Richard Cook) #10

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