Monzo

System

eskbanker wrote: »

Ironically, the person whose mugshot is on every piece of it!



Doesn't seem to fit the target fintech demographic though....

https://www.telegraph.co.uk/finance/currency/9284737/RBS-releases-Queens-Diamond-Jubilee-10-note.html

Only on special occasions, do we display pictures of elderly benefit recipients.

d123

Takmon wrote: »

Personally i think it's a shame that Monzo allow cash to be paid into their accounts at all they should focus on the future of banking and shouldn't put any effort into accepting cash or cheques at all.

Unless your a business there is little need to pay cash into your account and even if your a business you still should be investing in taking electronic payments.

Looks like even Monzo disagree with you.

Digital-only bank Monzo in talks with the Post Office over deal to allow customers to pay in cash, founder reveals

Digital-only bank Monzo has told MPs it has entered discussions with the Post Office to allow customers to deposit and withdraw cash in its branches.

Tom Blomfield, chief executive of the start-up which has no branches, told the Treasury Select Committee yesterday that cash transactions were not 'going away'.

Under the arrangement, the Post Office would offer Monzo customers a service to pay in cash for a small fee.

https://www.thisismoney.co.uk/money/saving/article-6673749/Monzo-talks-Post-Office-deal-let-customers-pay-cash.html

Another first for Monzo though, I think.

The first bank to charge a fee to use Post Office banking services...

Takmon

d123 wrote: »

Looks like even Monzo disagree with you.

https://www.thisismoney.co.uk/money/saving/article-6673749/Monzo-talks-Post-Office-deal-let-customers-pay-cash.html

Another first for Monzo though, I think.

The first bank to charge a fee to use Post Office banking services...

Seems a pretty silly thing for them to do in my opinion; wasting money supporting cash transactions.

They are taking a step backwards by offering this.

d123

Takmon wrote: »

Seems a pretty silly thing for them to do in my opinion; wasting money supporting cash transactions.

They are taking a step backwards by offering this.

I would presume the majority of their customers (or at least research group) don’t agree with you.

They wouldn’t be doing it if they hadn’t concluded they need it and are likely losing business because they don’t offer it.

I haven’t looked, but I bet the Monzo “coral crew” on their community forums are now evangelising how PO banking services are the best thing since sliced bread now .

Takmon

d123 wrote: »

I would presume the majority of their customers (or at least research group) don’t agree with you.

They wouldn’t be doing it if they hadn’t concluded they need it and are likely losing business because they don’t offer it.

I haven’t looked, but I bet the Monzo “coral crew” on their community forums are now evangelising how PO banking services are the best thing since sliced bread now .

Well i would think their current customers probably don't care otherwise they wouldn't have opened an account with them.

Like you say they are trying to appeal to more customers by introducing this. But i think people would be pretty silly to pay to deposit their cash when there are so many free options available.

But like i have said before i still believe that a bank doesn't need to allow cash deposits to be a "proper bank".

I wonder what they will do next; a lot of banks seem to offer free tea/coffee in branches. So i'm sure there will be an announcement soon that Monzo is negotiating a deal with Costa to offer a free drink every time you need to talk to customer services :rotfl:

d123

Smegspider111 wrote: »

Best bank i ever had!

monzo.com/I AM A SPAMMER

I can smell something, smells like :spam::spam::spam: