26 July 2017
visit www.avoka.com

Monzo treads cautiously as first current accounts come onstream

17 July 2017  |  5786 views  |  0 Monzo Drawing Board

Digital challenger Monzo has rolled out its first 92 current accounts as part of a staged implementation that will see up to 20,000 of the limited-edition accounts activated in the next three months.

Monzo has been testing the accounts internally and is now inviting users to register their interest and help the startup to work out the bugs on what will be an early iteration of the full-blown account.

Initially available for iOS users only, the account comes with a number of limitations, including the absence of P2P payments functionality, 9am-6pm customer support, a temporary debit card (which will have to be replaced when the service is fully launched) and another app to manage alongside the existing pre-paid card app.

Faster Payments, direct debits and standing orders are all present and correct.

"We’re working hard to bring all of these features over to the current account as soon as we can," says the Monzo blog in its usual candid and transparent rundown. "We plan to have everything ready when we launch fully later this year. Remember, this is not the finished product and so only register if you’re happy to use it with the limitations outlined above."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Monzo disables card features as services go awry

Monzo disables card features as services go awry

06 July 2017  |  17767 views  |  5 comments | 10 tweets | 19 linkedin
Monzo pays a high price for popularity as losses widen to £6.7 million

Monzo pays a high price for popularity as losses widen to £6.7 million

05 July 2017  |  16596 views  |  7 comments | 20 tweets | 16 linkedin
Monzo may have to freeze some accounts under new money laundering rules

Monzo may have to freeze some accounts under new money laundering rules

13 June 2017  |  11000 views  |  7 comments | 9 tweets | 10 linkedin
Monzo puts API development on the back burner

Monzo puts API development on the back burner

12 May 2017  |  10477 views  |  0 comments | 25 tweets | 20 linkedin
Monzo opens doors to community collaboration

Monzo opens doors to community collaboration

28 April 2017  |  7877 views  |  0 comments | 10 tweets | 6 linkedin
Monzo gears up for current accounts after receiving full banking license

Monzo gears up for current accounts after receiving full banking license

05 April 2017  |  7811 views  |  1 comments | 14 tweets | 21 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.niceactimize.comvisit www.ncr.com

Who is commenting?

A Finextra member Finextra Member Commented on: US firm to implant emp...
A Finextra member Finextra Member Commented on: US firm to implant emp...
A Finextra member Finextra Member Commented on: US firm to implant emp...

Top topics

Most viewed Most shared
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
10332 views comments | 7 tweets | 6 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
9897 views comments | 10 tweets | 6 linkedin
Machines could take over 30% of bank jobs: McKinseyMachines could take over 30% of bank jobs:...
9320 views comments | 28 tweets | 27 linkedin
Yet more deals announced in payments sectorYet more deals announced in payments secto...
9281 views comments | 7 tweets | 21 linkedin
Wells Fargo Control Tower to map customer's digital footprintsWells Fargo Control Tower to map customer'...
8114 views comments | 7 tweets | 5 linkedin

Featured job

Competitive
Frankfurt, Germany or CEE Region

Find your next job