What features in a Monzo app would you be willing to pay for?

Its unsettling to hear your bank saying they wish they werent a bank :man_shrugging:

Maybe im being too sensitive


I think he was just raising the point that with the banking license it became a lot harder to do things.

Also it wasn’t Monzo saying that but the COO, I’m not sure if his personal views represents the company view

It is one and the same unless explicitly stated otherwise (same goes for any company). That is not necessarily a negative though.

I think the message is simply that the time and effort it took to secure a banking license could have been spent on other things that were equally or possibly more impactful. But at the time we really had to commit to either one or another.

One could perhaps argue that we should have held off on the banking license a while longer, committed to growth and developing more new features, and then if we had still decided to commit to getting the license then we could have been in a position where we didn’t have to drop focus on features, revenue etc in order to do it.

But everything is simpler in hindsight :slight_smile: I don’t think it’s worth reading too much into it.


If Monzo weren’t a bank, would they still be protected by FSCS up to £85k?

I know that I feel better being protected by such regulations and would never have moved to an app based bank without FSCS being a thing. If Monzo were just an e-wallet I’d still be planning long term to stay with the bricks and mortar version.


No, would be the £50,000 FCA protection

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monzo.me limit two orders of magnitude higher
funnel payments through underlying cc a la curve

0.5% cashback

What about a Gold card? We love gold right.

Turn your Monzo into an asset. :briefcase:



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So if there was a gold card…

Typically metal cards weigh about 18g - using stainless steel.

Gold is more than twice as dense as steel - so assuming a card of the same dimensions - that would be about 36g.

The current spot value for Gold, is $48.05 / g.

So a gold card woiuld be worth about $1729, or about £1400

Still not as heavy as the ChipLead…

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Can I have a card made of neutron star please? A piece the size of a debit card should only have the mass of a couple of billion tonnes.


You perhaps have some misconceptions about how banking works. They’re designed to make a profit off of you, even without charging a fee for the account Monzo will eventually be able to make a profit from your card transactions and various other profit-making actions.

It’s not as simple as Monzo are taking the hit for a product that costs them money to offer.

ChipLead will not fit into most (or any) payment terminals. Contactless payment functionality is unavailable due to the signal insulating properties of lead. Mild poisoning may occur if you lick the card or sweat excessively.



To be fair, the UK model, although entrenched in consumers’ minds, is widely regarded to profit from those least able to afford the exorbitant fees required to keep the account ‘free’.

Sadly, despite desperately wanting to, UK banks are now unable to charge an account fee as it would be rejected by customers, which is why we’re now in the bizarre situation where some accounts do charge, but the charge can be offset by paying in a salary, or with cash back offered by the same account!

So the banks are stuck with their monster invention of ‘free banking’, whilst the regulator fiddles at the edges (more expensive overdrafts for all, anyone?) and the consumer demands evermore innovation, for free. Sadly, I fear that with the banking culture in the UK, if fees were introduced, they wouldn’t replace the stealth charging, but simply provide additional easy profit.


I can’t agree enough with this. :arrow_double_up:


Just give me mobile insurance! - and also why not take a leaf out of the people you used to work for’s book and do a portal for us in case we do lose our phones!. I know they do it for Business but still…

Thanks! It’s a start but no where near the full feature you get with Starling for business.

What are you expecting Monzo to offer that you can’t get from https://www.moneysupermarket.com/gadget-insurance/ or https://www.gocompare.com/home-insurance/mobile-phone-cover/ or https://www.moneysavingexpert.com/insurance/cheap-mobile-phone-insurance/ and the like?

I’ve never really understood why people look to their banks for this kind of thing

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I,m not expecting anything- its what they did and I was asking if it was coming back .

Maybe people look to their banks as most current accounts have this in the monthly cost?