A few thoughts and suggestions


#1

I’ve been using the Finangel card and App for a good few weeks now and am running it alongside Monzo and Dozens, but none are a primary banking account, which I’ve has elsewhere for nearly 40 years, so have a few thoughts and some suggestions based on my experience to date;

  • First off - the £50 signup offer was an excellent idea and worked well.
  • Love the card design and “feel” - it is very premium looking.
  • Having the ability to change PIN numbers would be very helpful!
  • I would love to be able to customise my name in the App and ideally on the card (it signed me up with my middle name as per my passport but I never use it and would prefer not to have it displayed!) plus adding a photo to the profile in App would be great.
  • The support via the App is always very polite and helpful - the only drawback is delayed responses at weekends, I suspect at the moment the cover is not every day and will improve with growth.
  • I haven’t tried the Split Pay yet, but its a great idea and seems to be the USP. I look forward to using it! I imagine its highly unlikely, but if you can recruit retailers like Amazon and perhaps even supermarkets like Tesco, Asda, Sainsburys,I suspect the customer base will really take off.
  • I appreciate the emphasis to date has been on getting the Split Pay up and running and expanding the number of card users, but if functions like creating custom savings jars/pots (Monzo do this really well) can be added, with the ability to round up transactions with auto transfer into these, it would certainly persuade me to use it more and transfer money in for this purpose. If these could attract even nominal rates of interest initially and perhaps move to market lead (including ISA, LISA accounts etc) so much the better.
  • The cap of €200 free for cash withdrawals per month is on the low side and it would be helpful to have this a little higher (most other similar apps/accounts allow £250 per day) and I’d recommend getting this into £ by default as a priority - its very confusing withdrawing money at cash machines at the moment in the UK!
  • The ability to transfer money to other people via IBAN or whatever would be great
  • A link from the App into this community forum would be helpful.
  • Not sure how ambitious future plans are - move towards a more formal current account or keep the pre-paid format, but if you want to compete with Monzo and offer a comprehensive package that might be the direction of travel and they are now (via a “Monzo Plus” option) offering a customisable suite of extras such as travel insurance and others in the pipeline like higher interest/cash withdrawal limits, mobile insurance, car breakdown etc. Admittedly it has taken them 2+ years to get there but if you want to build on the Split Pay USP and compete, this may be the way to go.

Anyway, that’s just initial thoughts. Quite impressed so far and open to being attracted to using Finangel more than others! :blush:


#2

Hi Martyn :blush:

First of all, thank you for this detailed feedback. We appreciate you taking the time to let us know what you’re looking for—most of the improvements we make come from ideas and suggestions like yours :raised_hands:

As a global idea, we strive to create a new era mobile bank that can be an alternative to the old banking system as well as serve as an example of how money can be lent and managed.
We have just made our first step towards the goal. Within a few months, we were able to create a user-friendly app and provide our clients with the main product which is SplitPay. :scissors:
And we are really happy we make you feel premium while using our card.

Although at the moment the app has only basic features, will be developing it more and more, offering useful options for our customers as well as create something that you have never seen in other banking apps but are going to fall in love with :hearts:

I am sure that if you give us some time, we will exceed all your expectations :rocket: