Web / Online Banking 1


#21

I personally think phones will become the 2nd screen desktop processing points… A la ubuntu touch or the windows attempts. I travel a lot, and need to be productive in many places, having my desktop in my mobile is where I see that going.

If I could just drop my phone in a cradle on a desk, at home, at work, at all the locations I travel to… If that cradle became standardized like USB © charge is… I can live with ‘less’ of an OS 99% of the time… I just need keyboard / mouse / 24 inch high res screen…

Mobile processing power is either there or close… Its the OS not the hardware that needs to make that leap.


(Richard Müller, Consultant) #22

While SWIFT codes and national format account numbers are needed for international payments, within the SEPA area BIC Codes are no longer needed, just the IBAN. After the completion of the SEPA IBAN Only project (SEPAIO) customers should not need to enter a BIC code anymore.


#23

I used to move money to my cambodian bank account… Would take 7 - 10 days… And I would lose big chunks as they bounced it through clearing banks in new york etc before cambo and everyone grabbed fees.

I brought it up with my sending bank the “I paid all the fees at the sender side” and at first they gave it must be currency conversions… Nope USD to USD, Cambo has both USD and riel banking… It must have been the other bank… After a LOT of back and forth my bank swallowed the fee, but told me either I took the future cost or they wouldnt send it.

Sending money to African or Asian banking systems can get hard work, they appear to have New York USA based clearing agents in 3rd party banks and god knows.


(not related to Monzo CEO) #24

I’d like a web interface but I don’t mind if it’s not one created by Monzo. They’re creating the API so they can focus on what they consider to be the most important features for the resources they have available.


(Oliver Ford) #25

And then what, save to Google Drive or whatever to open on a computer?

I’m having a hard time understanding how some here don’t recognise the benefits of web app for a bank. Considering every high street bank has one even if not a mobile app…

No way I’m giving a third-party write access to my bank. Even read-only takes some trust; I don’t think I’d even trust myself entirely to write a web app with write access - obviously I wouldn’t be self-maligning, but I can still make mistakes.


(not related to Monzo CEO) #26

This is where it comes down to personal choice. Personally, I’d be happy to allow a third party read only access to my Monzo account. At least Monzo are being up front on what they’re planning. Nobody should be signing up to the current account expecting a web interface.


(Richard Müller, Consultant) #27

I also agree with you on that


(Oliver Ford) #28

That’s why feedback is valuable: I expect many more would sign up if they could expect a web interface.


(not related to Monzo CEO) #29

I’m sure there are plenty who will only sign up if there’s a web interface. Compared to categories though there’s nowhere near as much call for a web interface.


(Richard Müller, Consultant) #30

but Monzo is a mobile bank. If they want the web they will go to an internet bank.


(Oliver Ford) #31

That’s an absurd sentence.


(Richard Müller, Consultant) #32

Some banks are internet banks and are designed around a web interface others are mobile banks and designed for mobiles…or if you want everything you can go to a traditional bank and have second rate mobile and second rate web interfaces…just try Metro and you will see what I mean


#33

Just my feeling that without that… Monzo will be unlikely to be my primary current account…

I will keep it as a spending mechanism / fallback card / to use the features I wish (cheap fx use overseas) which then maybe makes me a loss for monzo…

But some of the things people seem to think Monzo can not do (web interface, normal bank statements) will radically reduce its appeal to mass market. I would assume Monzo will solve them rather than maintain some lofty ‘mobile only’ mantra.


(Richard Müller, Consultant) #34

They need to stick to their aim to be a mobile only bank and their aim for a particular customer type not appeal to the mass market and their desires be they branches or cheque books or whatever


#35

They have said a billion users… how is that not mass market


(Sam) #36

I feel that a web client (from monzo themselves) is almost as crucial as being able to set up direct debits/standing orders and exporting PDF monthly statements.


(Sam) #38

I love the product exactly as it is now but becoming a “proper” bank with a current account means little to me if it’s missing a few “legacy bank” features.

It’s easy, seemless and beneficial to continue to use monzo simply as a spending card alongside my existing bank.

I’d prefer to use a credit card for the protection and reward benefits, so if a competitor (possibly even an existing bank) decides to do something similar then my (loss leading? :)) business is even more at risk!

The product and community is great but in the end I’m still just a selfish (conscientious) consumer.


(Alex Sherwood) #39

Just a quick observation - most users who’ve left comments in this post seem to be assuming that they won’t be able to do what they need to do (what they’re used to doing in their legacy banks web interface) through the mobile app.

Until you’ve seen the solution that Monzo builds, I’m not sure that it’s worth worrying that it won’t be sufficient & that you need the web alternative…


#40

Doesn’t matter what monzo builds… Banking requires a keyboard…

I just did 3 international payments to new international creditors… Requiring long form addressing, IBANS, customer Ref codes, etc etc… that aint happening on a hunt and peck phone screen. Just isnt.

Sure a bit of card spending, no biggie, but banking means a lot more than that.


(Richard Müller, Consultant) #41

it depends on the interface. With Monese I could set up UK FPS and SEPA payments (using IBAN) with no difficulty