More than 3,000,000 people have a Monzo bank account, and 55,000 people open one every week. You and most of your mates are on board, and you’ve just referred your nan. You’ve managed to evangelise most of the people you know. You just have that one stubborn friend who for some reason’s still holding out.
Before you cut them out of your life forever, try to reason with them using these 10 easily recited lines.
Number 1: Monzo is an actual bank.
Follow up with: ‘Monzo Bank Ltd’ is a fully authorised UK bank. It’s a bank that lives in your phone, with no branches on the high street. It’s the future.
Number 2: Sure, they’re new. But banking with Monzo is safe.
Follow up with: Your money is as safe with Monzo as it is with your current bank. That’s because it’s fully protected by the Financial Services Compensation Scheme (FSCS), meaning all your money up to £85,000 is protected by the government. So you’d get it back if Monzo went under.
Security at Monzo is so hot they knew that Ticketmaster had been hacked before Ticketmaster did.
Number 3: They care about being open and doing what’s right by their customers.
Follow up with: They care so much that they let their community vote on things like new features, withdrawal limits when you’re abroad and even Monzo’s name. Plus they share pretty much everything publicly, and not just with their customers. It’s all available online: the products they’re building, their business plan, how their technology works. All kinds of good stuff.
Number 4: It'll let us send each other money super easily.
Follow up with: You can pay any of your contacts with Monzo in a few taps. You don’t need their bank details, just their phone number will do.
It means we’ll never have to go back and forth exchanging sort codes, or argue about who’s not paid who.
Number 5: And split bills without the usual faff.
Follow up with: Monzo makes it easy to split the bill at dinner or go in on a group present. They’ll do the maths, and we can pay each other back in a few taps.
They’ve even got a feature called Shared Tabs, which makes it easy to keep track of who paid for drinks or bought the bog roll last.
Number 6: Monzo gives you the option to get paid an entire day early.
Follow up with: If you get paid into Monzo, they can advance you the money at 4pm on the day before it’s due. That’s right. You can get paid a whole entire day early if you have a Monzo account. (A heads up: we can stop offering get paid early, or change this service, at any time.)
They’ve even got a handy feature called Salary Sorter, that lets you neatly sort your money between spending, bills and savings as soon as you get paid.
Number 7: And it actually helps you save.
Follow up with: Pots let you organise your money and earn interest on your savings. And you can even turn on ‘round-ups’ to automatically save your spare change. It adds up surprisingly quickly!
Number 8: Their customer service is the best.
Follow up with: No really, Which? recently voted them the best consumer bank in the UK. All of their customer service is done through the app. They’re fast to respond, super friendly, and they use emojis.
Number 9: It doesn’t cost anything.
Follow up with: They don't charge any fees for using Monzo day-to-day. Payments in the UK, cash withdrawals in the UK and payments abroad are all free, with no added fees.
Number 10: Signing up is the easiest thing ever. You could be using your new card tomorrow!
Follow up with: All you have to do is download the Monzo app and follow the steps.
Honestly what are you waiting for?!