UK challenger bank Monzo plans US expansion

Monzo, a British exclusively digital bank, has taken the UK like a storm. Just 12 months ago, it mostly offered its services through pre-paid cards in the UK, but Monzo reports that by the end of 2018, 93 percent of its clients had opened full UK current accounts. The challenger bank also launched a host of new features, including Apple Pay, bill splitting, and Shared Tabs. 

It’s even rumoured to be secretly starting a US chapter, following the opening of a 24/7 customer support office in Las Vegas. TechCrunch claims the office might be a foothold to start operations in the US, which will most likely mirror the launch in the UK—making pre-paid cards available to the public until Monzo obtains a banking license in the US.

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No details regarding the upcoming US expansion are available at the moment. A Monz