Challenger bank Monese goes pan-European with mobile current account
Digital bank Monese coming to Europe
UK-based digital bank Monese has expanded its current account service to 19 countries in Europe, enabling customers to open bank accounts and “bank like a local”, even if they are not a local resident.
“European accounts will be available in local languages, allowing people the clarity that speaking your native language brings,” Monese says.
“Customers will be free to move anywhere in the Eurozone, safe in the knowledge that their local bank account will be accessible and usable consistently via the app.”
The bank says over 75% of its customers who have GBP accounts are using them to receive their salary. Users will be able to sign up for a euro account via the app, in addition to a GBP account.
“Individuals working in different European countries will be able to receive salary payments into their local account, without being charged excessive fees for doing so,” the bank explains.
Norris Koppel, CEO and founder of Monese states the bank’s mission “has always been to provide the technology that enables people to live, travel and work freely anywhere in the world”.
Expanding into Europe takes Monese “one step closer to that goal”, he adds.
Monese was set up in 2015, and offers “a 100% mobile current account”. It aims to reach 250,000 customers this year.
In December 2016, Monese closed its Series A funding round. It has raised $15.8 million to date.
With so many new entrants trying to muscle into the UK banking sector, Banking Technology has put together a comprehensive list of the known challengers to date and the technology they are using.
Hello to all,
I found out from a friend about the debit card that Monese offers and I wanted one because the banks in the UK make it hard for foreigners to open a bank account with them.
I just wanted to share my personal experience about the Monese debit card. When a newcommer wants to get a bank account with a UK bank, they require a proof of address letter and other docs, in the beginning that is very difficult for some people /newcomers/ but Monese only wants you to take a pic of your ID card and Passport to send you a debit card by post to you, and I got mine for 3 days after I registerd and give my info. They do require a one time fee of £5, but if you use this code /P9C2JFGH/ when you register in the app you will get the card basicaly for free. The Monese app has to be installed in your smartphone.
Everything else you need to know about the card is best described in the Monese app, hope this was helpfull for you guys and girls.
Cheers.
Very good bank .