Seems most people are pretty aligned here…
Instead of these sorts of features, Monzo should just go back and finish off the basics to make it a more complete bank. This way, they will be able to be compared fairly to other banks and finally get people who are willing to trust it as their main bank. When this relationship is established then traditional financial services products will be enough to make good profit. There isn’t really a new product to be made here, just a total re-design of how it’s put together and the interaction with users.
Rushing through any old stuff with a view of charging people for it smacks of desperation and doesn’t seem traditionally Monzo in feel.
The sorts of things proposed as chargeable software items are available from businesses where this is their only service and do it pretty damn well… this will be so tough to compete with.
If there’s such a need to charge people for something then just do what every other bank does. It won’t suit most people here because they were led on by utterances of a marketplace, but it works for most other banks so just create a package or two to rival them and flog those to the people who like that sort of thing.
The way Monzo implemented savings pots really made me think that they’d nailed this. I thought that was the start of a bloody good marketplace… then it just stopped right there. Such a shame. Maybe this sort of integration just isn’t available right now with the sorts of providers they intended to chase, but trying to flog minor features just seems a bit naff.