Am I the only one who doesn’t care about instant debits, notifications or hot coral card, and joined because of ethical stance and transparency?
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These are among the reasons why I stayed, and why i think Monzo’s approach si the way to go for all banks.
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Because I wanted a travel card but then I fell in love with the rest of the product along with how honest and open Monzo are. Now I’m full Monzo 
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Same here. I heard of it through the guys at Crowdcube.
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I suspect a sizeable chunk of folk have signed up for precisely all of that.
I reckon precious few would go so far as to say they don’t care about instant notifications - that one feature pretty much carved a new furrow for banking.
If the latter was what satisfied you, @Mr.Chung, you must be pretty chuffed with what you’ve ended up with.
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I was more interested in what Tandem offered as a bank when I read about the what each fintech bank was offering. Tandem then and now to be honest seems to be at a standstill, so I thought I’ll join the next bank on the list which excited me and that was Mondo. Quite a good job I did as if not I would still be waiting for a current account with Tandem.
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Went out catch up with a uni friend for lunch and he paid using this hot coral card and I asked him about it
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Hot Coral
The combo of instant notifications and the Hot Coral card…
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Hot Coral piqued my interest.
The instant notifications sold me.
And just last week, I decided to switch as I can’t see any significant thing my legacy bank did better, overall.
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Initially I saw my friend buy a drink using contactless from a vending machine at a tech conference in Brussels without worrying about foreign transaction fees!
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Real-time banking. I had been wanting to switch from cash to contactless for day-to-day spending but was concerned I’d lose track of spending. Real-time banking was the solution to this.
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Don’t really remember why I signed up 2 years ago but a big part of why I’m still a fan is my experience with card fraud.
Happened on my legacy bank where I didn’t realise for several weeks when my statement came through that several hundred pound was missing and took many weeks to get it all back.
Also happened on Monzo, I knew straight away due to the notification. I had my money back in less than an hour and a new card by the next day.
Legacy bank would have to do something truly spectacular to regain my trust
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I joined out of curiosity and since then have learned a lot from this community and from Monzo. Some of the key features like instant notifications are not so important to me as I’ve always used a credit card for everyday spending, and my credit card has notifications and shows pending payments in the transaction list along with debited payments.
The ethics, ethos and transparency are very high up on my list of things for any bank, and will probably be the most important factor in me staying with Monzo (or otherwise). So far I am seeing good things.
I am tempted to say I would like to see Monzo savings accounts and maybe a credit card, but I am well aware that going down this route isn’t what Monzo is about and maybe in that respect Monzo isn’t for me.
That said, I will be watching who Monzo partner with very carefully for providing other financial services.
I joined as it’s genuinely a place that feels driven by it’s user-base rather than $£$£$, yes I know Monzo is out to make money, but along the way is taking genuine time to consider how to make it inclusive to the masses not the few.
It’s always been a big irritation for me, that those with money get more money (interest) and those with non get nothing but hurdles in the way to stop them reaching the point of being in a position to be on the right side of 0!
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What you describe sounds a hell of a lot like a overdraft. As for Monzo not offering interest on credit balances it sounds like people are screwed both ways.
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Not overdrafts, theres a whole lot more to staying right side of 0, better money management tools to stop you overspending, access to bank account with services rather than having to get prepaid card style premium accounts etc etc.
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So that’s a overdraft is it not? Being the wrong size of 0 puts you to into minus figures which means you owe the bank money, so its a overdraft. So I say what it is then you come up with money management stuff.
So Monzo must be your saviour then as there are no charges for withdrawls and stuff like that.
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