What made you go #FullMonzo?


(Gareth) #63

This seems to be a CASS thing rather than anything Monzo related.

I had the same exact thing when I moved to First Direct. O2 took money from the original (moved) DD then took all the future payments from the new DD. It’s probably companies using old systems that don’t handle CASS switches correctly


#64

Yeah it must be a CASS issue I guess.
Definitely not a big enough issue to put me off using CASS either (not that I’ll be wanting to switch from Monzo anyway :grinning:).


#65

yes, it’s all gone through fine now.
I had a bit of a panic on saturday morning when my rent standing order failed to go out, but then I remembered that standing orders aren’t processed on weekends

Very pleased so far!


(Is Santa here yet?) #66

If you set it up in Monzo it will go out at weekends but if you CASS the standing order over it will only be sent on weekdays


(Jamie 🏳️‍🌈) #67

That’s interesting. Does that mean when the CASS is used it brings with it a little bit of legacy set–up with the SO?


(Is Santa here yet?) #68

Yes. I think that’s an internal decision to stop customers being confused by unexpected payments at weekends. I’ll go hunting for the post i saw that in

Edit: found it


#69

I see. It would be helpful if this was in the help pages


(James Baynton) #70

I had the same problem on mine. Even though I made sure to cancel all my out of date DDs before the switch went through. As you said I will just have to wait until the payments are requested next month!


#71

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


(Andre Borie) #72

keep your life as simple as possible

This is what I’ve been saying all along to those that dismiss Monzo because of the lack of interest/cashback or those who set up convoluted schemes of moving money around to take advantage of legacy cash back or interest.

Sure, you might get a few hundred bucks a year in exchange, but at what cost in terms of time, stress and anxiety? Unless you’re really enjoying managing these schemes (and I can’t believe anyone in their right mind would enjoy this kind of pain… but then again, 50 Shades of Grey was quite successful :joy:), just don’t bother. If you’re desperate for money, put the time into learning new skills or improving your existing ones which will pay off orders of magnitude more than even the best interest/cash back will.


#73

I mostly agree, a mistimed payment to one of my accounts and a message telling me I was two quid overdrawn with potentially dire consequences made me realise the complexity was not worth the reward. I was netting around £4 a month from it.

Where I tend to disagree with you is cashback and points on my credit cards. That returns hundreds in cash and value of thousands in points. Well worth the minimal effort to me.


(Andy) #74

Agree this too, I’ve never been bothered by having multiple bank accounts where I’m constantly moving money about to make a few quid but I do try and take advantage of TopCashback and my works perksatwork.com scheme


#75

I think my post is probably better in this thread :slight_smile:

Hey,

I’ve taken the plunge, and put in my switch today to go #fullmonzo!

I’ve been here at Monzo before, but just couldn’t get behind it at that point. I had concerns, but the amazing customer service team emailed me and put me completely at ease!

For a long time, I looked at Starling as this Fintech pioneer that could be trusted with your money and where you know it’d be cast iron safe. The constant marketing promotion, and their CEO constantly in the media promoting the brand I think is a root case of this. Although, I now know that Monzo have the exact same FSCS protection in place.

However by the customer service at Starling, I feel as though I was treated worse than any high street bank I’ve ever come into contact with and my whole experience there just leaves a sour taste.

I completely misjudged Monzo, and realised it is here who is completely changing the face of banking. The whole customer centric approach is what all other banks could learn from. The basic compassion offered to everybody is testament to the ethos of the whole team, and excellent work they’re doing. It doesn’t matter how amazing a product is, if you don’t have a customer centred focus, you will not appeal to the masses.

Bravo to the whole team, very happy after a few bumps in the road to now make Monzo my main bank account and very excited to be on the journey with you all and seeing how the bank continues to grow


(Steve Daniels) #76

First Direct made me go #fullmonzo by being my last hope at finding a bank that wasn’t awful.


(Phil) #77

Pots for joint accounts! Now switched over everything to Monzo. :champagne:


#78

The way contactless payments work, and now full Monzo seeing incoming payments that are due next day the budgeting facility, and now a fully fledged member of the community, instead of just ignoring my pension as no longer employed, I have sorted pensionbee and my kids CTF along with now joint pots, alround #fullmonzo is a win win for me :wink: