What does Monzo premium / value add mean to you?


#163

The issue with this is, a lot of people don’t tend to understand the business decisions that Monzo have to make.

So whilst “5% interest for premium customers” might seem like a cracking idea - It’s just not feasible (and ends up leading to resentment that you’ve voted for something that Monzo won’t/can’t do).


(NM) #164

One thing I would pay for would be access to Online learning platforms at a reasonable price because WOW they’re becoming expensive plus I think it would be different and support Monzos ethos


(Asa Bentley - Director - CreditLadder) #165

If you are a tenant you should consider CreditLadder as a free alternative to a Cashbuilder, CreditLadder Q&A


#166

Thanks I did see it but not fully look into it as with a housing association so wasn’t sure if applicable and also as we get housing benefit not sure how that would work :wink:


(Emma Barrow) #167

I’m a big fan of convenience - I’ve got a ‘busy’ life and will happily pay 10-20% more than individual product pricing to have it all done and dusted at once - if I trust the package provider (so Monzo) to be as diligent and sensible with their choice of partners as I would be myself.

I used to have a packaged account, but stopped as the insurance products weren’t able to be customised enough, some of the other ‘bits’ were really gimmicks and I didn’t use them all that much, and I wasn’t a fan of some of the third party providers. I also wasn’t bought into my CA provider at the time as a ‘decent’ company, and worried a bit that I wouldn’t be properly covered.


(Asa Bentley - Director - CreditLadder) #168

Thank you :pray: Happy to help, asa@creditladder.co.uk.


#169

Emailed you :wink:


(Nicholas Carter) #170

:-1::-1::-1::-1::-1::-1::-1::-1::-1::-1::-1::-1::-1::-1::-1::-1:

Really not a fan of “premium” services, partly because a lot of the time they aren’t actually worth the effort, “Travel insurance” is normally a service that is thrown around by the big banks, but it’s not exactly an expensive item in the first place, and should probably be bought to be bespoke to your situation at the time, same goes for a lot of the “packages” that are normally offered.

Second to that, I feel that this direction is strongly against what Monzo means. Monzo’s official tagline from their homepage is as follows…

This isn’t banking as you know it. Monzo is a bank for everyone, that works with you, for you.

“Bank for everyone” implies, and has been the case up until now, that everyone gets access to the same services and is accessible to anyone. Putting “services” or extras behind a paywall seems to me like trying to compete against the high street banks and singling out those customers who couldn’t afford or justify the premium…

I don’t like the idea as a whole personally. Wrong direction when there’s a lot bigger things that could be focused on.


(Adam) #171

Flip side to that is that the added extras that Monzo might offer will suit some people. Them paying extra for the services will give Monzo an income stream to invest in the core banking app/product.


(Eline ) #172

I would love to see integrated stocks and shares ISA options. I currently use a platform provider through my employer (it’s a workplace benefit) called Smarterly. I contribute each month straight from my pay. They offer loads of ready-made portfolios as well as access to lots of funds, which you can then compare very easily and transparently on projected returns and risk levels. Would be great to integrate something like this into Monzo so I can compare rates, get closer to my long-term savings goals and generally keep everything in one place.


(Richy Edwards) #173

Hello - I can’t seem to book in for a chat?


(Adam) #174

I think they all got booked up quite quickly. But keep an eye out as they may have another round of interviews.


(Richy Edwards) #175

Ah! That’s cool - as long as they managed to get enough people :slight_smile: Will do - thanks man!


(Jordan) #176

I agree here with the main point - Monzo is about inclusivity so providing a “Premium” offering seems to go against this @simonb has clarified that Monzo are thinking about if they did build something in that they would be careful with the term “Premium”.

I think that this is a personal opinion point - if you can get a full family insurance package (Travel and Gadget and Home) that is only slightly more expensive than finding it all individually is that not the “premium” being paid for?

I agree whole heartedly here but I don’t think the base bank platform offering will change - but if you want a completely extra and not tied into a bank service I don’t see the issue with paying a “premium”.


(Amelia Ikeda) #177

One thing I’d definitely like from travelling a lot and actually going to a country that uses basically just cash (Japan :jp:), is to pay upfront for a higher withdrawal limit (in the region of £1500), and some form of lounge access at airports. I’d also pay to have a higher fee-free buffer on my overdraft (of, say, £100) as well. Cashback’s not high on that list, though.


(David Shipman) #178

Fully agree with this. If monzo offered a package similar I would switch my main curremt account in a heartbeat. Currently use monzo for my weekly spending


(Simon) #179

Agree with this, would also pay for an increased free withdrawal limit abroad.


#180

Hi everyone,

I’m Kasia and I work as a user researcher with Samantha and Naomi :blush:

We are looking for participants who get their salaries paid into Monzo for 45-minute phone calls tomorrow. If you’re interested please pick one of the three (first-come-first-serve) slots here.

Please add your name, email address and phone number if you’d prefer not to use Hangouts.

As a thank you for your time you’ll get £30 either paid into your bank account or in a form of an Amazon voucher.

Thanks in advance,

Kasia :monzo:


(Danny Martinez) #181

In case it’s helpful - I’d love to get my salary paid into Monzo but cannot do so until IBAN numbers are sorted :confused:


(Spencer Luxford) #182

I believe I have booked the 11am slot! :grinning: