Bye Bye Monzo

Well, after much consideration, my Monzo account is no more.
I gave them a good go, but in the end they were not for me.
As someone who is not really in their target market, I felt that they were heading way too deep into the tech side of things without concentrating on being an actual “bank”
Gimmicks don’t do it for me, neither do disciples of a movement where all criticism is shot down (Monzo Community :rofl: :rofl: :rofl: )
I am now for better or worse going to give Monese a chance as my everyday account.

(I may post this on the Monzo forum, just to see their reactions :grin: :grin: :grin:)

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I haven’t looked at Monese. What do they offer that Monzo don’t?

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I’d be interested to see the reaction. Your sentiments have been uttered so many times by others. I wonder if the Monzo team are privately irritated at the negative impression given by sections within the forum - particularly when the experience leads to account closure.

It would certainly piss me off…

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On the whole for me personally, a much more simplified CA.
I don’t need budgeting tools, IFTTT integration, open banking, etc.
I did mention before that the only think really keeping me with Monzo was the FSCS protection, but as it was only used as an everyday spending account, the amounts in there were pretty insignificant.
Monese, like Starling, seem to have a more polished product, which seems to be closer to being profitable.
I may be wrong, but to me, Monese seems to be a little more of a grown up product compared to Monzo too.

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I get the impression that Monzo thrive on their community and the unconditional love that many of the members have for the product.
To me, that is not a good business model.
Asking a bunch of fans what they want, and then having to wade through suggestions that would ultimately be nonviable seems to be counter productive.
All I really want is a product that is viable and one that benefits both the business and the customer.

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I agree. I suspect the impact of leavers on the product is negligible and as such is of no consideration. But the fact that folk DO leave primarily as a result of a negative forum experience feels a whole lot unpleasant.

Monese is interesting but not having FCSC protection is off-putting as a main account. In any event I’m a Starling-returner and don’t regret that returning one bit. A grown-up account which doesn’t thrive on fan-boys…:face_with_raised_eyebrow:

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Makes sense, definitely a less in more thing. I pretty much just use fintech as spending accounts though I haven’t tried Starling yet so that might tempt me to use it as a main account (as I would want FSCS for that).

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For my money, Starling is the account for when you’ve had your fill of trying all the fintech offerings “just because you can”. :grinning:

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I’ve not exactly been bowled over by the excellence of Monese CS from a few minor skirmishes. Basically, no business is perfect hehe

Monese has a much more navigable app though, IMO, if that counts as grown up!

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I reckon it does…:grinning:

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If nothing else, this definitely beats “hot coral”
:rofl: :rofl: :rofl:

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One other I forgot to mention was their Euro account complete with it’s own separate card

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