Re:Monzo urges 480k customers to change their pin numbers
by zhte415 on Tuesday August 06, 2019 @12:08PM
(#20626463)
I like what the challenger banks are doing. A customer of several, including Monzo, there are some features that I think Monzo and similar could add or more broadly adopt.
Different PIN for app and ATM.
'Always on' app not being always on. By this I mean opening the app and instantly being logged - no password - in with balance, transaction history, access to funds, etc. Material concern if phone lost. N26 by comparison always request password.
Again, comparing to N26, no self-imposed limit on ATM or online transactions. In N26 this is set in the app/web interface. Monzo doesn't have this self-set limit feature.
No web interface. Using a phone for everything is annoying.
Monzo do have very responsive and knowledgable customer service. And a very distinctively coloured card.
Different PIN for app and ATM.
'Always on' app not being always on. By this I mean opening the app and instantly being logged - no password - in with balance, transaction history, access to funds, etc. Material concern if phone lost. N26 by comparison always request password.
Again, comparing to N26, no self-imposed limit on ATM or online transactions. In N26 this is set in the app/web interface. Monzo doesn't have this self-set limit feature.
No web interface. Using a phone for everything is annoying.
Monzo do have very responsive and knowledgable customer service. And a very distinctively coloured card.