Having completed its Beta phase, UK challenger bank Monzo is now offering its services more widely across the US.
In Brief:
From today, customers across the US can download the app and set up an account.
They will be able to use the money management features and get a contactless debit card.
Monzo doesn’t yet have a US banking licence.
What does this mean?
Since Monzo has not yet obtained a fill licence in the US, currently deposits are being held by Sutton Bank. It withdrew its application in October last year but is still pushing ahead with some product features being released across the country.
