The challenger bank had previously delayed launch because of the Covid-19 pandemic
In Brief:
- The new service allows deep open banking integration with other bank and credit card accounts letting customers view and move money between accounts.
- Monzo Plus also provides virtual cards for customers to spend online without sharing their actual bank card details
- Other features include monthly credit scores from the bank’s integration with TransUnion, 1 per cent interest on all balances up to £2,000 and £400 fee-free withdrawals abroad.
What does this mean?
This is Monzo's second crack at offering a premium service as it seeks to shed its challenger mantle and take its place at the top table of British banking.
