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After an 18-month beta launch with a waiting list in the U.S., the U.K. challenger bank Monzo is now ready to open the app-based accounts and onboard eligible customers. However, Monzo has yet to get a U.S. banking license - and for now, deposits are held by FDIC member Sutton Bank.
“You gave us amazing insight on the problems you’re facing in your financial lives, and your feedback directly led us to launch features like salary sorter. It’s now easy to divide up your paycheck in a few taps, so your spending, savings and bills are neatly separated as soon as you get paid,” U.S. Product Manager Thomas George said in the blog post.
https://www.pymnts.com/news/digital-banking/2022/uk-digital-bank-monzo-officially-lands-in-us/
