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

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?

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Just seen the same thing.

Surely Monzo know how to do sums… :joy:

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

Same. Mine has also increased:eyes: decreased :man_shrugging: by 0.25% AER

Same! :eyes: Monzo fail

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+1 here

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

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

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

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Looks like autocorrect changed the intended ‘scuppered’ word :rofl:

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:eyes:

Chasing this up :sos:

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

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

Hats off to in app chat for a quick reply

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Yes just seen the same in the app

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

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.

Monzo seems to have a lot of do-it-yourself solutions compared to other banks, though. So it seems like I’ll be alright considering there will be no need to contact support most of the time.

The other thing I’d say is I got a response in 18 minutes from the team needed (savings and investment) for something that wasn’t urgent.

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Makes the paid tiers less attractive.

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