Viola Black Discussion & Feedback


(Jamie 🏳️‍🌈) #435

Let’s put the fun into funds everyone!

In the black with Viola Rebecca Black. Lolz.


(Katrina) #436

But you can’t buy Kindle books in the Amazon app, presumably because they would take 30% of that. Presumably videos and mp3s as well, but I’ve never tried buying them from Amazon.


(P Burrows) #437

I gave up reading after “reward yourself with an extra episode of your favourite Netflix show.” (Or something to that effect).

I’ll watch as much Netflix as I like! Gotta get my £9.99 worth!

On a serious note I did give up they need paragraphs or line breaks.


#438

Ohhhhh, that’s why. It always massively annoyed me that you couldn’t buy Kindle books in the app hah.


(sam) #439

Their bus adverts are ridiculous: it’s winter, it gets dark early, many buses run 24 hours a day… and their adverts are on a black background. I assume at least 50% of the eyeballs on their adverts can’t actually read what it says, I barely managed to determine what the advert was the first time I saw it.


(Herp Derp) #440

Are these guys still going?


(#savetheseabass) #441

Still waiting for the phenomenal demand to end so I can get my card


(Stephen D) #442

I’ve just come across this.

I’m but a lowly Data Analyst/In Training Software Engineer, I don’t know much about marketing, but… the only thing I can think from reading this thread and having had a google is “who exactly is this card aimed at?”.

People who cannot get a bank account
I’m sure there are alternatives for this (likely) very small niche market of people who cannot get a bank account - an alternative where you don’t get charged for literally everything but online purchases. I’m also sure that this group probably don’t have all that much money to start with and can afford to be charged for this “service”.

Savers
You’d have to be a fool to decide that this is the best way to save - it’s akin to having a negative interest rate, being charged £4 a month and an inactivity fee (of which surely, you’d be encouraged not to touch your savings?) It doesn’t mention the frequency of an inactivity fee after the first charge either.

Travellers
Overseas ATM withdrawals - £2 + 1.5% plus the Mastercard conversion rate +3.05%. Just… no, stop. Get a pre-paid currency card (I used Fair FX prior to finding out about Monzo and it was great for what it does, still recommend it to people not interested in Fintech)

Everyone
I can’t remember what it said in my brief look around, but they touted this as a card for everyone. £2.90 ATM withdrawals, 30p insufficient fund fees and (I have no idea what this even means) “Fee for any replacement/additional virtual card: £1.50”. What is a virtual card? No, it’s definitely not for everyone.

It then tries to rival Monzo directly in their marketing campaign when it’s offers are worse in literally every way. Move over? You cannot be serious and not expect ridicule when you put your product side by side, surely? I feel like the comparison that they made themselves killed it before it even had a chance. You are directly challenging a Fintech bank in your advertisement for a group of people who are probably more likely to research you first.

I glanced over the blog, the website, a few articles - the only thing I could think was “poorly thought-out” and “amateur”. While it may not be a scam, it certainly gives off that impression. Almost like it’s being run by people who saw a trend to make a quick few quid and don’t really know what they are doing.

The card benefits no-one but Viola, in my opinion.

But then I may just being my overly analytical self and completely off the mark.


(Splodf) #443

You’d be surprised, Arro quote this number as being around 1.5m but their stats are from 2015 (and they’re trying to Crowdfunding based on them), I would estimate it has at least halved since the advent of digital only banking.

But 750k is enough to run a profit making service on.


(Sam) #444

Have Arro given reasons for why this 1.5m can’t get a bank account? Is it because of things like Cifas markers, or a lack of ID documents? It may be that these people struggle to get an account with the big high street names, but would have more luck with the likes of Monzo - especially when it comes to Cifas markers.


(Nathan Steer) #445

Essentially a card number for which no physical card was ever made, these can be used for online transactions and can normally be used via Google/Apple pay, but you obviously don’t have the physical card to use this anywhere that Google/Apple pay isn’t accepted.

Honestly, I don’t see any reasonable argument for the fee on this kind of thing where no raw materials and no human time is required.


(Splodf) #446

Bankrupt, homeless and hard times.

It’s an odd target audience I admit.


(Sam) #447

Does monzo (or Starling for that matter?) offer accounts to people who have gone bankrupt?


(Splodf) #448

Not sure.

The advice generally seems to be to just apply and see.


(#savetheseabass) #449

Yes Monzo does as there’s no credit check on opening. You wouldn’t get an overdraft so would qualify as a basic bank account


#450

I thought Monzo does run a credit search? Marking it as an enquiry, no?

Only soft, but still the same data.


(Splodf) #451

Soft search is a glimpse at present finances.

Hard search is more access to historical data.


(#savetheseabass) #452

The result of that doesn’t determine if you get an account, I think it’s just a layer of verification


(Katrina) #453

All the big banks offer basic bank accounts to these people.


(Katrina) #454

I think most of the people who can’t get bank accounts are homeless. They would need to visit a branch much more frequently than the average person.