What we’ll build in 2019

(Marcel Ruhf) #143

From what I’ve rread, I’d eckon that they’d want to automate all aspects of the process.

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(Luke) #144

Who says it’ll be a black card, they could use lots of different vibrant colours that will catch people’s eyes the same way, if not even more. Imagine seeing someone with a bright, vibrant blue card!!

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(Marcus Nailor, Hot Coral Detective) #145

It was just an example of a colour that’s been heavily requested :slight_smile:

There’s nothing to say there won’t be a green card with blue dots on it :stuck_out_tongue_winking_eye: but I still think Monzo should keep their Hot Coral card :innocent:

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(Luke) #146

Ahhh okay, fair enough and yes, I do love the Hot Coral myself, even though I never pull it out cuz I’m always paying with GPay

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(William Brown) #147

Hot coral cards would possibly look fantastic in metal and they would last longer than the standard cards my first one faded and ended up unusable metal cards are fab I have the red curve metal card it’s super cool. N26 metal card in black looks plain doesn’t give a statement it’s just like revoluts metal card it’s a plain uninteresting colour

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(William Brown) #148

Lime green cards already issued by transferwise and there’s no same response you get from monzo hot coral cards

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(Rob) #149

Personally i’m not convinced we need another energy or insurance switching service just yet. Monzo should first concentrate on being the best bank possible, rather than mess around with meerkats and moustached tenors.

Here’s what i feel the 3 top priorities should be:

  1. Improve savings and loans. (There be profits here!)
  2. Improve summary and budget feature, as it’s currently a bit naff, and looking at Dozens daily budget tracker, it seems to be falling behing competitors! Peggy McGregor recently posted an interesting article about 50/30/20 budgets which I think would really help people if Monzo implemented something to show people what their percentages were and help set a target plus a daily budget traker like Dozens to improve their savings. (Really need to keep up with the competition or risk people not signing up or worse leaving for another fintech)
    https://community.monzo.com/t/how-to-use-the-50-20-30-budget-rule/59556
  3. Be able to see other bank accounts (seriously even legacy banks are doing this! Don’t fall behind legacies in terms of tech fetures, thats just embarrassing!) This would also really help with summary and budgeting.

Here are some other things that should be done but not at the expense of the top 3.

  1. That Annual summary thing was really interesting, a monthly one would be great.
  2. Business accounts (I presume there be money here)
  3. Improve the pulse graph.
  4. A dark/night theme for the app (so we dont burn our retinas in the evening)
  5. Monzo plus, but shouldn’t be too expensive or firewall any app features, it needs to be something that adds genuine value like holiday/phone insurance, cashback.
  6. Euro accounts, before US accounts, i’ve noticed many EU colleagues using Monzo and they’ve all said they wish they could have a euro account for when they go home.
  7. US accounts.
  8. Paying in Cheques via app

Finally if Monzo can bring something new to the table in insurance/bill switching then great but dont let it distract for being the best bank possible or risk losing ground to fintech competition.

I look forward to seeing what the market does in 2019 and how Monzo reacts, so far Dozens is looking like an interesting proposition and I like their ethos of making money by making you money. Then there is Viola Black which looks like a terrible proposition with all its charges.

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(Tom Warren) #150

Paying in cheques via the app would be ideal, but I know this has been pushed back until August time which is great shame. I don’t get many cheques myself but my fiancee does, hence why she sticks to her legacy bank for salary etc.

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(Rob) #151

Forgot about that as i dont often get them, list amended.

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#152

Signed up to the community specifically to post in here.

Very interested to see what Monzo can offer in the way of mortgages. Although I track my day-to-day spending through Monzo, I am still tied to a high street bank for my salary to go into, because that is a (reasonable!) condition of them provide me with my mortgage.

Moving everything through Monzo would be an absolute dream, but as others have alluded to - I don’t think that Mortgages are a simple thing to get setup through Monzo (even via a third party?). But I have the confidence that Monzo will give things a really good go.

I did see one comment about Monzo having to offer the best rate for mortgages to switch to them - I don’t think that’s entirely true. I think offering a competitive rate yes, but ‘the best’ isn’t a requirement for me.

As long as I can pay a similar amount to what I am paying now, per month, to get my mortgage paid off; that is all I want. Convenience of everything through Monzo rather than my current split between banks, is worth it for a small extra percentage paid every month.

I don’t expect anyone maintain the very best rate on their mortgage without constantly changing their deal.

Looking forward to the what lies ahead :smiley:

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(MikeF) #153

Monzo won’t be offering mortgages themselves.

As I understand it, the talk is more around the offering of other people’s mortgages through the app in the way that the Invetec pots have recently been available. As a result, rates etc may not be something Monzo has full control over.

Edit: Rereading the above, I don’t think I’ve ever heard of a bank requiring mortgage customers to hold a current account with them

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(Jamie 🏳️‍🌈) #154

I don’t think that’s reasonable at all. I’ve had mortgages with Santander, Nationwide and Barclays, and none of those companies require it. In fact, none of those even require my mortgage direct debit to be linked with a current account it provides – admittedly, Santander and Barclays pay a cash bonus for that, but it’s certainly not mandatory.

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(dan costin) #155

I like the idea of Monzo Plus (and the rest ofcourse)

To have things like travel insurance, Mobile Insurance, AIrport Lounge, Cinema Discout, Tastecard, discouts at shops and restaurants or even 24/7 concierge services like a tier in prices like the main stream banks use

I would definatly use a service like this as I hate having different services with different companies I would rather use one for it all

I think its more of a convenience then finding cheaper prices around

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(David Grubb) #156

All exciting ideas! At the moment I still only really use my Monzo for travel purposes (in particular with work), but I’d love to be able migrate all my finances under the Monzo banner. Personally I’d be most looking forward to the following:

  • A faster, better way to get a mortgage or remortgage .
  • More ways to save and invest your money .
  • Clearer, fairer insurance when you need it.
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(TWM) #157

Indeed, I agree, I’d like to see it as a list that you could select what products you want /need and see the price change as you tick and untick the various items, a fully customisable menu, including things that could be added for a short period of time, example being, you go on an unusual trip around the UK, you normally don’t have breakdown insurance cos you usually just travel to and from work, but you’d like breakdown insurance for the 10 nights you are away out of your normal comfort zone.

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#158

I like the idea of loyalty cards being attached, just recently I was speaking with a friend (Monzo customer) about cards such as nectar/Tesco/nandos cards being attached…

Being able to connect other accounts to Monzo would be amazing

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(James Richards) #159

Monzo Carbon would be nice

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#160

I want my Waterstones one attached. I always forget to hand it over. :confounded:

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#161

Hello, yup, I’m reading this - I’ll be in touch!

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(Splodf) #162

I’m in Sept too and happy to give you a shot.

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