New Monzo charges

Another small and transparent fee from Monzo in a continuing desperate attempt to stem losses.

No free card deliveries and an insistence on bastardising the English language with frauded.

…and recognition that the majority of their “five million” customers use the account as a “spending card”.

With a push to get customer using it as a meaningful account.

Making money accessible to everyone, by being more restrictive than traditional bank accounts.

Smacks of desperation and realisation that big numbers like “five million customers” actually mean very little.

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It seems like a big push towards being profitable - a kind of ‘Give us all your money or none at all’ pitch.

I’m pretty much full Monzo - I have a legacy bank account for paying in cash and cheques - so I won’t be impacted by these changes but they do seem quite harsh and probably making people feel forced away from them as a bank.

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I don’t disagree with what you are saying, but they did announce this back in September. Are the fees ‘new’?

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I don’t know. It’s just popped up in the Monzo app for me today …so it’s new to me.

Perhaps previously announced?

You may have somehow met the conditions without realising it until recently?

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You should have received an email back in September (though I don’t specifically remember getting one), the fees started 31/10/20. I guess, as @Seb said, they didn’t apply to you until now.

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@Antichris @Seb

I think you both might well be correct, somehow it’s a change that has not affected me until now.

Although I wonder why not when I look at my history since then:

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Maybe they didn’t want to scare you off till now :joy:

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Those “Well done!” messages would be encouraging - if you’re a five-year-old. Jeez :smirk:.

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I don’t get what Monzo are aiming for other than pushing away customers :expressionless:

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They :grin: are :carousel_horse: a :ferris_wheel: bank :roller_coaster: for :medal_sports: children :jack_o_lantern: tbf.

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