I’ve decided to go almost full monzo in the sense that I’m moving my salary and bills to monzo from two other banks kicking off two CASS switches at the same time!
Can’t quite bring myself to drop FD though - been with them since the start and having such a longstanding account on my credit report looks good. They will just get a few quid each month to keep it ticking over.
I’m moving it all cos I was getting sick of the HSBC app, you can’t do everything with it and the customer service, even on Premier sucked. Now they shifted from a dedicated person to a call centre, it feels like a poor version of FD. Plus I think my bank should want me, not make me prove how valuable I am to them.
Moving my bills was a no brainer when I looked at the pathetic return on Santander for the additional complexity of moving money around. I recently read a great article on the costs of complexity (FIRE v London) and a quote by Peter Hargreaves (yes, that Peter Hargreaves) struck a chord:
“As you know I’ve got a few quid and I can pretty much have anything I want in life. I’ve got one car, one house and one wife, and that’s the way it’s staying. No matter how much you own or earn, keep your life as simple as possible. ”
It’s simple to use Monzo. The support I’ve received has been excellent - reminiscent of the level of support I first got at FD when they only had 10k customers. It felt then like they knew you personally! Ok not quite that, unless I get @BethS on the end of the chat, but really great support. It gives me confidence I won’t be left high and dry if something goes wrong.
So here goes… wish me luck fellow #FullMonzo-ers