Monzo now bundles insurance
In May, Monzo launched Monzo Plus – a feature that allows users “to get more” out of their Monzo account for a small monthly fee. The feature initially launched with optional additional services such as travel insurance and travel money, and now, after a few months of user testing and feedback sessions, the digital bank is introducing bundles through Monzo Plus.
Bank users can now choose between the Traveller, Home and Supporter bundles through Monzo Plus.
For £9 a month for 6 months minimum, the Traveller bundle features worldwide travel insurance by AXA that includes coverage for medical bills up to £10m and lost valuables worth up to £1,500. Beyond travel insurance, users will be able to withdraw up to £400 abroad in cash for free every 30 days and enjoy a transfer service of up to £1,000 from their account in cash to collect from a Western Union branch for a 5% fee in case they lose access to their cash or card. Users will also receive additional offers and discounts such as 10% off bookings on Hotels.com, money off and a free 3-month premium membership for new Jack’s Flight Club customers (worth £12), money off Airportr – the bag check in service, and airport lounge access for a flat fee of £25 per person.
For £12 a month for 6 months minimum, the Home bundle features contents insurance from Urban Jungle up to a combined value of £20,000. In addition, users will get money off HelloFresh ingredients and recipes, “ethically sourced” Pact Coffee, and lunch options from MealPal (for new customers only).
And for £4.95 a month for 6 months minimum, the Supporter bundle features exclusive Monzo Plus merchandise throughout the year, like water bottles and t-shirts. In addition, users get 15% off a monthly Tidal music streaming subscription, £36 credit as a new Zipcar customer, 10% off every Cornerstone toiletries order, and £30 off Thriva home blood test subscription (first order only of over £59).