The provider of instant mobile current accounts Monese has announced its expansion into 19 additional European countries this summer.
Users can now open local accounts in these countries in local languages and access them anywhere in the Eurozone.
Users can sign up for a euro account via the app, and can also have a Great British pound account at the same time, while receiving salary payments into their local account without being charged excessive fees for doing so.
Over 75% of Monese’s GBP customer accounts are used as salary-receiving accounts.
The mobile current account provider’s expansion is aimed at breaking down financial barriers when crossing borders within the EU.
Norris Koppel, CEO and founder of Monese, said: “We are immensely pleased to have launched this new offering.
“Our mission has always been to provide the technology that enables people to live, travel and work freely anywhere in the world.
“Expanding into Europe takes us one step closer to that goal.
“This offering takes the hassle and frustration out of setting up financial services that are vital in order to live and prosper in a country that isn’t your own.
“Individuals shouldn’t face barriers to local financial services, nor should they experience hidden and unexpected fees for doing so and our move directly tackles these struggles that are experienced all too often.”
AIB provides funding for acquisition of 190 homes
AIB Corporate Banking has formed a partnership with Túath Housing Association to fund the acquisition of up to 190 social homes across every county and district in Ireland.
Virgin Money set to enter SME banking market
Virgin Money Holdings UK has announced plans to enter the UK SME banking market in January 2018.
British Business Bank welcomes extra £2.5bn government funding
The British Business Bank has welcomed the extra £2.5bn of government funding, announced in the Autumn Budget.
£11m UTB facility saves developer from considerable funding costs
United Trust Bank’s (UTB) structured finance team has provided an £11m facility to save a property development company from paying considerable funding costs.
Behind the scenes at Metro Bank’s new London store opening
Metro Bank opened its 52nd store in Liverpool Street, London, last Thursday (16th November), with the lord mayor of the City of London Alderman Charles Bowman cutting the ribbon.
Do people underestimate the scale of UK SMEs?
Only 2% of British people realise that SMEs make up 99% of total UK businesses, new research has revealed.
We need to aim higher than ‘a nation of shopkeepers’
I read an interesting newspaper article the other day with the headline: “UK bank scandals are making entrepreneurs reluctant borrowers”.
What are the key changes from the Autumn Budget 2017?
In the first Autumn Budget, the chancellor of the exchequer Philip Hammond has set out the government’s plan for the UK economy.
CYBG reports 6% lending growth
CYBG PLC has reported total lending growth of 6% during the year ending 30th September 2017.
Do enough businesses realise the benefits of asset finance?
Only one in 10 business owners (11%) describe the strength of their companies’ working capital facilities as “very strong”, even though their businesses are performing well, a report has revealed.