Why have I heard nothing from Monzo?

(Lorna williams) #1

We applied for a Monzo business account some months ago and have heard literally nothing from Monzo - can anyone please explain what is going on?

0 Likes

(Tony, Secret Lemonade Drinker) #2

Business accounts are in trial right now. Only 100 were created initially, and no further accounts are being opened whilst they make that work suitably. If you applied and weren’t in that initial 100, you’ll be in a list of those who will be offered an account when it opens up.

8 Likes

( related to Monzo CEO, Investor in Monzo ) #3

its not a great look from Monzo TBH @cookywook @bea when people apply for a trial test and then apparently don’t get a “thank you for your interest email, but our trials are full at the moment, however you will be first to hear when more accounts become available”

  • maybe they do and missed it - hopefully ???
10 Likes

#4

I don’t recall getting said email, so as far as I’m aware nothing went out.

1 Like

(Lorna williams) #5

Thank you…and yes it is not a good look.
Disappointing at best, utterly dismissive at worst and augurs badly for the future of their business relationships.

0 Likes

( related to Monzo CEO, Investor in Monzo ) #6

not sure I’d go that far about dismissive , an oversight maybe , which I agree shouldn’t be happening, but these forums are where oversights should get the attention needed to improve the service :slight_smile:

15 Likes

((╯°□°)╯︵ ┻━┻) #7

Agree, would have been nice to get an email or a notification in app.

Didn’t really think about it because I keep up to date with stuff on here.

0 Likes

(Jack Cully) #8

Hi everyone! Jack here - I work on the Business Banking team at Monzo.

Firstly, I’d just like to say I’m really, really sorry that you feel like we’ve left you in the dark here. That’s absolutely not our intention, and so it doesn’t sit well with me at all that this is how you feel.

We opened up our waitlist in February, to try to understand a little more about the kinds of businesses that’d like to bank with us. We’ve been speaking with lots of you since that time, hearing all about your pain points with banking, and the kinds of things you’d love to see in a Monzo Business Account. It’s been really great getting to know lots of you over the last few months!

We opened up some very early-stage accounts with 100 businesses, too - and we’ve been hearing from these businesses what they like, what they don’t and what’s missing.

Behind the scenes, we’ve been working really hard on trying to build something that we hope you’ll really love!

I can’t stress how important it is for you to feel you can trust us, so I’m really sorry if it feels like there’s been a long time with no communication. We’ve had our heads down over the last few weeks working to bring business accounts to more of you, and I admit, we could’ve done a little more to let you know that we’re working hard!

We’ll be sharing more of an update with you early next week, so keep an eye on your emails :blush:

Myself, and the rest of the team, are super happy to chat with you all here (talking with our community is how we build our product!) - so if you have any questions at all, please do let me know here and I’d be more than happy to answer them!

Best,

Jack

14 Likes

Business Account - When?
Simple Questions Thread (Newbie friendly 🙂)
(Jordan) #9

hey everyone! first off, thank you for sharing your frustration! I’m sorry to hear that you’ve been feeling a bit in the dark on business accounts :slightly_frowning_face:! we’re working super hard to take all the feedback we’ve learned so far, and build an amazing business account that we can bring to everyone… but want to make sure we bring you all on the journey with us. :slight_smile:

As a bit of an update from our last blog post… Right now, we’re still in our trial period (we’re just coming up to the 2 month mark now!) We have our first 100 accounts open with sole traders and limited companies, and have learned a lot. :slight_smile: We’ve been working on fixing bugs, identifying and updating areas in the app that needed to be tailored for business users, and now we’re setting the foundations to be able to bring the account to more businesses! We also submitted our application for the Capability and Innovation fund (which is a grant we’re applying for to help us build out our business accounts even further). We should hear back about that in the next 2 months.

We also know it’s frustrating to join the wait list and not hear back for a while, so we’re definitely working on our communications! After we launched the waitlist in February, we set a team goal to send monthly updates to people on the waitlist. Jack sent out a monthly newsletter in March, and he’s working on our April newsletter now :slight_smile: If you haven’t received the first newsletter or your initial “You’re on the Monzo business account waiting list :tada:” after you joined the waitlist, please DM one of us and let us know your email address and we can look into why the emails never went through!

:crossed_fingers: we can have something out to more of you soon :slight_smile:

8 Likes

#10

Thanks for the update, @jrdn. It’s super comforting to know that you’ve been sending monthly updates* and thanks-for-signing-up emails. And also good to hear that you’re looking at how to make comms even better! :raised_hands::blush:

*Now, any chance of posting those updates here, too? I’m sure lots of us would be really interested in hearing about your progress - even if we don’t have businesses! :crossed_fingers:

4 Likes

( related to Monzo CEO, Investor in Monzo ) #11

I think this is the point really

" If you haven’t received the first newsletter or your initial “You’re on the Monzo business account waiting list :tada:” after you joined the waitlist, please DM one of us and let us know your email address and we can look into why the emails never went through! "

The OP hasn’t heard anything , if they aren’t regularly on the community or indeed never visit the community and signed up to business accounts through the website, which presumably took their email to register , Monzo then picked the 100 business accounts , and the other sign upperers , or a few of them ? were left hanging ( ? ) not knowing any more about whether they were selected or not, just no communication about it. Maybe the OP was a one off ? and all others are happy, and they have been informed that they didnt make the cut and will be considered in the very next batch of business accounts ?

Could you not link the business account request with the account and notify them directly in app about not being selected for this trial at this time ? assuming they already have a Monzo account - I have no idea what communication attempts were made as I didnt sign up.

Maybe Im reading too much into the OP :slight_smile:

2 Likes

(Lorna williams) #12

We have heard absolutely nothing from you - zilch - nada AND…maybe/probably I am blind but I cannot see how to DM you

0 Likes

(Alex Barrett) #13

Just saw this post and I thought I’d pop my opinion in (It’s the internet and that’s what people do, right?)

I did the initial surveys etc and signed up for the trial on the waiting list but it was always made clear it was a test process and there was no guarantee I’d get one of the 100 accounts.

I do feel that the interest some of us showed has been ignored somewhat, part of that might be disappointment at not getting in on the ground floor but that’s likely to be the same for everyone because business banking rapidly needs transforming for those of us in the digital age.

A few quick “thank you for your time and interest” emails with some smaller updates might have gone down better because Monzo continually asks people to be part of their processes and then we hear nothing.
If we are going to be asked to become involved through surveys and giving away information about how we run as individuals as well as our businesses then the value that gives to you guys could be shown back with a few emails to make sure we still feel like it’s not just a one way street.

1 Like

(Lorna williams) #14

My feeling exactly

0 Likes

(Jack Cully) #15

Hey @Lbwcomms - I’ve just dropped you a DM - you should be able to find it by clicking on your avatar on the top right.

I’ll take a look at why you’ve not received our emails.

@Avionyx - could you possibly drop me a DM with yours too, so I can check?

We’ll be sending out April’s update later today, so I’d really like to make sure you get this one too :blush:

1 Like

(Kyle Risi) #16

Ha ha, This is a super entitled response. Classic “I want to speak to the manager behavior.”

2 Likes

#17

I don’t see how it’s entitled?

Monzo want the help and support of people/businesses in growing/developing their business accounts.

The least they could have done is acknowledged all people who wanted to participate in the trial (unless they made it very clear they would only get in touch with those who were successful).

I don’t think that expecting good customer service from a bank who are literally asking for help, makes you entitled…

2 Likes

(Kyle Risi) #18

I was referring to the tone of the post.

0 Likes

#19

Always dangerous on an online forum :wink:

4 Likes