We upped your interest rate (but it looks like it's been reduced?) [Issue Resolved]

[Andyg68uk (Andy Gallagher)]

Just noticed this message in the app saying my interest rate had been upped but from reading it, isn’t it actually that it’s been reduced?

[damcclean (Duncan 🏴󠁧󠁢󠁳󠁣󠁴󠁿)]

Just seen the same thing.

Surely Monzo know how to do sums…

[michaeltinsley]

Same, I’m pretty sure they give some notice to reduce it as well

[davidwalton (Award Winning Hot Coral Analyst)]

Same. Mine has also increased decreased by 0.25% AER

[jaisullivan]

Same! Monzo fail

[jonj1 (Jon)]

+1 here

[Callumrhys]

I’ve also got this, someone slipped and pressed a button they shouldn’t have didn’t they

[sonos (Piers Spencer)]

Same here, just upgraded to MAX for the 4.6% rate. Wow do I now feel dumb.

[jonj1 (Jon)]

Presumably they hardcoded the interest changed message to only show “upped” never considering the scenario where it goes down

[davidwalton (Award Winning Hot Coral Analyst)]

Looks like autocorrect changed the intended ‘scuppered’ word

[AlanDoe (Alan)]

Chasing this up

[Andyg68uk (Andy Gallagher)]

Thanks Alan, I did send an in app message to flag too. Cheers

[npc_06 (Max Power)]

Looks like only the paid account % has dropped? Mine still showing as 4.1%

[glenmcfar]

You realise these rates are tied to the BoE base rate, which has just been lowered?

[Andyg68uk (Andy Gallagher)]

Hats off to in app chat for a quick reply

[Fogmeister (Oliver Foggin)]

Yes just seen the same in the app

[WhyAydan (Aydan)]

I’m shocked how quick that reply was lol

[jackhirst38]

Is this new rate for just plus or is it for Perks also?

[boat]

I’m not with Monzo but looking to join soon, is half an hour later considered really fast? Other banks I’ve spoken with have near instant communication.

[WhyAydan (Aydan)]

I don’t want to put you off Monzo but just a quick search on this forum will tell you that there support response time has been lacking recently.