Wow, just wow
Yeah, they are very tough on them.
I was subscribed to Monzo Plus until yesterday but cancelled early after only 2 months as it was just pointless.
- I didn’t use the virtual cards feature because I don’t buy from dodgy shops
*Current account interest rate not worth it and doesn’t give access to any preferential rates for regular savers like HSBC Advance do for example - The holographic card is just a gimmick
- I can get all the same (and better) connected accounts and budgeting with Emma for only £2.99 for the first year
- I get custom categories with Emma plus things like transaction renaming, also with Monzo when you change a category it only changes that 1 transaction, not all from the same merchant like Emma which made it hard work to bulk update
Basically in the last month since getting Emma what I realised is that I don’t need Monzo at all, I just should have used Emma with my legacy bank account.
I’m quite sad to think all the historic transaction data I lost by switching banks that could be imported into Emma now!
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We don’t raise the price after one year, it stays like that. 
Even better! Then it is definitely better value to simply use Emma Pro alongside the standard Monzo offering, and a no-brainer alongside a legacy bank account!
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Is that for any promotional/sale pricing?
If you continue to subscribe you stay on the initial promotional price?
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Yes, of course.
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Hm, I agree about Emma being better for these things, but I do think Monzo has a few killer features.
The one feature which is ridiculously useful to me is ‘Bill Pots’. Bill Pots allow me to partially automate away budgeting. I find this so useful that I feel sorry for them that they released it for free. I’d probably pay £10 a month for it.
Another super useful feature are the IFTTT channels that allow you to setup rules like ‘rainy days’ to automatically save money whenever it rains.
Sometimes I wish that Emma could also do automations like these, however, without being a bank it would be much more difficult. (It’s also not recommended to be a bank due to the cost of regulation.) I guess that if Emma could work out a way of making API calls that create bank account transactions they could do these things, but I suspect the Open Banking would get even more painful and unsupported than it is?
Has anyone checked the new fees?
Easy to get around. Still doesn’t make me want to main them.
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Nothing there that concerns my use of my account with them.
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The new fee structure doesn’t concern me as there are easy ways to avoid the fees (like using another bank, for instance), and I understand the reasoning behind it all.
It does seem to be a retrograde step, in my view. It makes Monzo look more like a prepaid card than a bank because high street banks don’t charge customers for cash withdrawals.
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I was wondering about revenue vs losing product usage, but I guess we need to see.
I guess they’ve done the sums and arrived at the least worst option.
Potentially losing “expensive" customers now may lead to lost opportunities in the future, but helps the balance sheet today.
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Yes, you are right.
For anyone interested, the original discussion: https://community.monzo.com/t/were-adding-two-new-fees-which-only-affect-a-minority-of-customers/104821/21.
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More dross.
I suppose you only need two or more to switch to make headline accurate 
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Funny that they start that post with “you asked and we delivered”!
I remember when this feature was called “see your credit cards in Monzo”, and was going to be free for everyone. It was also going to include American Express - we were told “soon…” countless times.
I see it as very disingenuous to now promote it as a “new” paid feature, as if it has only just been developed as the result of feedback asking for it, when it has long been planned and was (initially) supposed to be for all customers, not just those who upgraded.
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“Customers can pay £180 a year, or £15 a month for a minimum of six months, for the privilege of Monzo Premium. Its key features include travel and phone insurance, £600 of fee-free withdrawals abroad each month, a sleek white steel card and 1.5% interest on deposits up to £2,000.”
Thoughts??