Monzo ditches ‘Monzo Plus’ premium account offering - MSE News

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App-only bank Monzo has closed its paid-for premium ‘Monzo Plus’ service, which offered customers extra features such as travel insurance, only five months after launching the product...

Read the full story:
'Monzo launches a premium account - but is it any good?'

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jonnygee2

I think this is the second time they have pulled their premium offering.

From the article:

The 'Traveller' package offered travel insurance, free cash withdrawals abroad for fixed periods and discounts with certain travel booking websites for a £12/month fee.

The 'Home' option gave account holders contents insurance and offers on products like home recipe boxes for a £12/mth fee.

The 'Supporter' bundle provided customers with a different-coloured debit card, Monzo-themed merchandise and discounts on products like music streaming service Tidal. This cost £4.95/mth.

Dunno what pimple faced university grad thought that up, but seems hugely over priced. £5 a month to be a 'supporter'. Erm. You are a bank, I'm not paying to 'support' you, thank you very much!

I think sometimes these emerging tech firms lack basic commercial acumen. They have grown up on VC funding, so they don't really have experience working in a competitive, commercial environment.

Varrko

Monzo offering to pay anyone back that had these levels though. Good to see a bank doing the right thing and rectifying their mistake

sportsarb

jonnygee2 wrote: »

Dunno what pimple faced university grad thought that up, but seems hugely over priced. £5 a month to be a 'supporter'. Erm. You are a bank, I'm not paying to 'support' you, thank you very much!

Yet people did pay the £5. I never would but they definitely got people who wanted to just support the initiative.