Monese - further desperation

Monese’s Simple plan has been altered to charge for almost everything. I’m still not going to subscribe

Hi Richard,

From 2 July 2024, we’ll be making some changes to our Simple plan. Because you’re currently on this plan, we wanted to share the details with you.

What’s changing from 2 July


You can find the full details of these fees here.

If you’re ok with these changes, you don’t need to do anything. We’ll automatically update your Simple plan on 2 July and these changes will apply from then.

Your other options

If you’d rather not carry on with our Simple plan, there are a few other options you can choose.

You could instead upgrade to our Classic or Premium plan for even more benefits – take a look through everything included in our pricing plans here.

Or if you’d rather not carry on at all after these changes, you can choose to close your account before they take effect – but we’ll be sorry to see you go. To close your account in your Monese app, head to Account Settings and follow the steps under Close account.

Get in touch

As always, our Support team is here to help. If you have any questions or concerns about these changes, don’t hesitate to reach out to them at [email protected].

The Monese team

Clearly the UK is not their target market

I didn’t know they were active elsewhere.

Not sure what they’re business model is as I’d imagine Monzo / Revolut would have a similar demographic and are mostly free to operate.

I’m mystified as well. I assume they think that making the free account almost unusable will mean all customers will switch to a paid for account, a mistake many, many Fintechs have made, and in most cases, crashed and burned thereafter.

I suspect the free tier will eventually be scrapped altogether, as a last desperate attempt to get people to swap, before Monese go bust or are swallowed up by someone else.

Wasn’t their USP that they could provide an account for people who had just moved here? If they are still going for those people, then they might get away with dropping free and charging for everything as people in that group don’t have many obvious options.

T’'other half was in that position many years back and getting an account was far from easy. If Monese had been available then, she’d likely have gone for It even if it did charge.

I was in that position not so long ago. I actually opened the Monese account but never made a single transaction with it.
It is at the same time I opened Wise but go on well with Wise.

Don’t you have to prove your address with Wise? That was her problem. In the end the manager at the Woolwich called round to confirm that she was living at her address but it took a while to find out that this solution was an option.

At that time I didn’t. I only had a BRP, and my passport. I don’t know if they used the delivery of the card as proof that I stay there. It was much later that i provided a UK driving licence and a bank statement from Lloyds.

She predated the BRP :grin:

On that front, whilst it’s supposed to be paperless now with all BRPs expiring this December and them not reissuing them if they’re lost or whatever, we tried paperless at Easter and were told ‘the paperless system doesn’t work yet’ so needed her BRP. As shown by Windrush, the Home Office aren’t good at paperless.

Same here… note that they do have an inactive account fee of £1 per month after 12 months of not using your account, ridiculous imo

I rest my case. :joy: