Monzo reboots Plus premium with Open Banking integration

July 16, 2020 | Open Banking

Written by FinTech Alliance

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Monzo
Monzo reboots Plus premium with Open Banking integration

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.

Read more here

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