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Comment by IshKebab | Hacker News Reader

Monzo is great. Rare example of a consumer banking company that makes things easy. I just signed up for their phone service in literally 3 minutes. Didn't even need to talk to anyone to port my old number. I'm going to move all my ISAs and SIPP to them next I think.

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> Didn't even need to talk to anyone to port my old number

That seems like pretty low stakes – I wouldn't expect to talk to anyone to sign up and transfer to a consumer service in the UK. I don't think I've spoken to anyone for something like this in the last 10 years or so.

I've never talked to someone for it, and I would've first done it in something like 2008. (It's 'always' been done by SMS, well before 'apps' that might let you (and I don't recall it on websites).)

Well I haven't moved my number for a couple of decades at least, but the last time I did you had to phone them and go through the whole "are you sure? Let me see if I can get you a better deal" nonsense.

Cancellation is different to porting a number. You'll still need to cancel your previous plan, but legislation fixed carriers holding numbers hostage a while ago.

No, when you port the number it automatically cancels the service.

Compared to Lebara or other cheap MVNOs their offering is not great. While they eventually give you 30% off (after 6 years) their starting price is 30% higher.

they don't offer a phone contract..? this makes no sense

Yes they do - https://monzo.com/mobile

Same service with HSBC and Giffgaff here. Meh.

Yeah I seriously doubt that. I used to be an HSBC customer. Awful tech.

How long ago? Everything is instant self service now. I haven’t spoken to a human in ten years.

This is either a bot comment, or you have a very poor understanding of the UK financial market. They are quite far down the leaderboard for ISA rates and SIPPs.

The parent comment didn't mention anything about ISA rates and SIPPs in terms of performance, they said that it was easy. You might disagree with their priorities but that doesn't change whether it's the right decision given those priorities

I don't think they actually are. Platform fees are capped at £250 and their default managed fund fees is 0.14% which is pretty normal. Also I deliberately want a platform that doesn't allow trading individual shares because otherwise I have to report those to my employer every quarter and I can't be bothered with that admin.

While Monzo are expensive their approach of rewarding loyalty (5% off per year for Monzo Mobile) is a good idea compared to the endless switching you have to do to get the best rates.

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