Monzo launches new Perks, Extra and Max options: our first thoughts

Monzo replaces Plus and Premium: here’s what it’s offering instead. Monzo is now offering three new account tiers to replace the current plans, Monzo Plus and Monzo Premium.

Plus and Premium, which cost £5 and £15 a month, have been retired in favour of Extra, Perks and Max, priced at £3, £7 and £17 a month.

W A T C H N E X T

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#Bankaccounts #currentaccounts #banking

00:00 Monzo unveil new paid accounts
01:12 What you get with the new tiers
01:49 What you get with the Monzo Extra tier
05:25 What you get with Perks and Max tiers
10:31 Exclusive to the Monzo Max tier
12:32 Can I stick to the old tiers?


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A B O U T A N D Y

DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.

[Bhethar]

Not going to lie… I paid for the highest tier and I did it mostly for the insurance but you’re right saying it’s not much of a perk. Monzo paid account donut really offer you perks. They just paywall features other banks give you for free.

[jxpt]

This is concerning to me - almost a sign of a failing institution when they charge for small features. I'm sure this will make Monzo some money, but not sure what the future of Monzo looks like if they are having to resort to this buisness model

[sebastianbillings]

My AA plan was £30 so ive swapped to max and have all my family included still. The little girl can have a free sausage roll too

[markflatters]

None of this sounds remotely enticing....Monzo just seems to be all over the place, not exactly confidence building & still don't think they've turned a profit.

[canarianpresa]

Where can I find a review on whether I should change from premium to max. I can’t go back if I change over and I’m unsure whether to as I get family travel at no extra cost where as with max I pay £2 more and another £5 on top if I want family cover. Any thoughts would be very much appreciated on whether to make the switch. Thanks

[adampeterz]

I am a premium member but will probably be upgrading to max - for the sausage rolls and RAC. shame they're scrapping the metal card, I rather liked it. would be nice if they did a metal black card, maybe adding further cashback options for say £20 a month??

[ZeroRiskAppetite]

I'm on plus and will be switching to Extra. The budgeting features save me hundreds each month as I have better oversight and control of my spending. Getting it for 2 quid cheaper is just the cherry on top.

[SirRodhood]

I was on Premium and have swirched to Max, what i lose from switching from Premium, i didn use anyway. I dont mind swinging by Greg's once a week for a swret treat

[icarus_ap]

I dont work or live near a greggs or use a rail station

[Joelio]

Literally went to Premium just for the metal card because it feels so much nicer than plastic. Surprised they’re dropping that when Revolut even does a platinum card. I’d be more likely to move to Revolut

[Tomwrigley]

What are your thoughts Andy on starling? I’m currently with hsbc (I use chase for my everyday spending) but thinking of changing my hsbc account to starling. Only downside is that there is no switching offer. Or should I stay with HSBC which is my main bank account for bills etc ?

[dyztructive]

how do you match the 4.6% interest rate by going with a partner bank? how does that work?

[freeleestoilet]

The Greggs offer actually puts me off the bank.

[semih]

I literally only joined premium for my metal card. RIP Monzo in 2027! (When it expires)

[Sam-pnkc]

Why did they not compete with Revolut snd do a monzo ultra plan

[tf]

Lol best Monzo could do is a partnership with Greggs. What a joke

[name]

anyone know if these new tiers provide cashback on international transfers like plus did? cant see any info about that from monzo

[REED]

Im with premium.. will my metal card work if premium is removed and im downgraded.. also will it work with max?

[DanJHayes]

What's the best joint account to get for bills?

[sidkings]

I've been unable to get a railcard becuase I don't seem to meet any of the eligible criteria to get one.
If I can get one with Monzo Perk then it'll be worth it especially if it's 1/3 off.

No longer paying for Curve metal so it might be worth the investment.