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Monzo launches a premium account - but is it any good? - MSE News

App-only bank Monzo has launched a premium service, with the option to pay extra for features such as travel insurance and extra fee-free cash withdrawals while abroad - but is it any good?...
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'Monzo launches a premium account - but is it any good?'
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Comments

  • Not worth it no.

    Starling offers unlimited withdrawals for free.

    And you can get travel insurance for much cheaper than that
  • Sounds like Monzo has gone a bit mental now.

    £13 a month for that?

    A different colour card, travel insurance and a bit extra foreign use?

    You can get unlimited foreign use with Starling and there are cheaper travel insurance offerings out there.

    I’ll bet the Monzo coral crew on their community forum will be saying this is the best thing ever to happen to the banking industry.
  • heatherw_01
    heatherw_01 Posts: 6,615 Ambassador
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    Dreadful value imo
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  • If you're paying for an add on to get more fee-free ATM withdrawals, then it's not really free.
  • d123
    d123 Posts: 8,679 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    MSE_Naomi wrote: »
    App-only bank Monzo has launched a premium service, with the option to pay extra for features such as travel insurance and extra fee-free cash withdrawals while abroad - but is it any good?...
    Read the full story:
    'Monzo launches a premium account - but is it any good?'
    OfficialStamp.gif
    Click reply below to discuss. If you haven’t already, join the forum to reply.

    LOL

    This should have been announced on April 1st :rotfl:
    ====
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    A firm thumbs down from me. Terrible value for money. Weird age limit on the travel insurance.
  • d123
    d123 Posts: 8,679 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    colsten wrote: »
    A firm thumbs down from me. Terrible value for money. Weird age limit on the travel insurance.

    I think Monzo is targeting the 20’s and early 30’s age group in general, just the whole attitude they display is to draw in younger people..

    I mean, have you ever seen another customer service that peppers their communications with emojis all over the place in messages?
    ====
  • gt94sss2
    gt94sss2 Posts: 5,864 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    From the article:
    You'll also be able to get £1,000 in emergency travel money if your card is lost or stolen.

    Monzo are charging an additional 5% fee on the emergency money - on top of the monthly fee for Monzo Plus!

    It's a service most banks offer for free..
  • jonnygee2
    jonnygee2 Posts: 2,086 Forumite
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    No chance, terrible value. What are Monzo thinking?

    Monzo have made a good core product but obviously lack basic commercial sense.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    Is this serious?
    It would be no good for me anyway as I am older than the maximum age limit of the travel insurance and would certainly have no use for the 'Swag'.
    Is this sort of age discrimination legal? I can understand travel insurance policies excluding those of very advanced age for obvious reasons, but a maximum age of 35?
    Those aged over 35 should withdraw their business from Monzo in protest.
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