The only reason I currently have Monzo plus is because of the interest on my balance
1 Like
I’d like Monzo to include instant access to next day savings pots. Additionally, Monzo could reduce the interest they earn on savings pots and pass this on to Monzo Plus customers.
2 Likes
Nationwide won’t be selling it at a loss - they have greater economies of scale and won’t need to make as much profit per customer.
I think this is probably the challenge that Monzo have but I read your comment and thought; the only reason I would pay for Monzo Plus would be to replace the HSBC Advanced+ account I currently pay for; travel insurance, breakdown cover & mobile insurance which are cheaper than I could get them individually.
Is that closed to new customers?
I can’t find anything about it.
Also although some of benefits are really good value for a family, for a single person they aren’t quite so good, maybe a bit of cross subsidy there
1 Like
When Monzo Plus v1 was launched I was hoping for pick and mix insurance and I still can’t think of anything I would find as interesting. Not sure if that idea has been completely killed or if Monzo are still exploring it in some form. HSBC have recently launched a pick and mix insurance product (select and cover). Different to the structuring of Monzo Plus v1 it dictates a minimum number of insurance products (three) which is perhaps necessary to make it viable, and doesn’t have a compulsory base product of dubious value. This structure would tempt me if the price were right (close to Nationwide price). However HSBC’s version is a bit too pricey to tempt me - £19.50/month for 3 insurance products.
I’d also be tempted if Plus included an enhanced level of customer support - in particular access to proper phone support (i.e. a line that doesn’t sometimes stop ringing and direct you to in-app chat).
I believe they have killed the pick n mix idea. As far as I’m aware it’s going to be 3 fixed plans again.
If so, we’ll be able to look forward to people who want only one thing from each package, and who are upset at having to buy all three. 
2 Likes
Where did you see 3 plans mentioned?
When they were asking for name ideas 
Nothing concrete though.
I assumed that included the free monzo account as well 
1 Like
They also said that the naming convention should be scaleable, so there could be 8 by how 
Hopefully there’s not much longer to wait before the big reveal! 
1 Like
Any hints of a release date or an announcement date?
Seeing as though Monzo don’t really do release dates I’ll go with:
:o
From what I can find on the HSBC website I would say yes.
Nothing would make me pay for Monzo Plus. Added Value Accounts (AVAs) are always poor value. This is my opinion so please respect it like I’d respect those that think it’s the best thing since sliced bread.
3 Likes
If it wasn’t your opinion I’d question why you were posting it… 
3 Likes
I’d also add to
I’m still a HSBC Advance customer and receive Travel Insurance (full family), Mobile breakdown (any car owned/loaned/leased by family) and Mobile device insurance for £11.95 per month (and until recently, that was £9.95 per month)
I view this as outstanding value. And I’ve used them all the benefit types in the past too.
The hard thing for me is selling Monzo Plus version-whatever-it-is-going-to-be to myself, given the value of what I’m getting from HSBC for that amount of money.
1 Like