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Tuesday, October 17, 2017

Tom Blomfield Monzo CEO
Products

Monzo launches current account preview on Android

Martin Greenland | 7:54 Wednesday 9th August 2017

Monzo has announced the launch of its current account preview on Android.

The mobile bank announced the current account preview three weeks ago as it rolled out Monzo current accounts to a limited number of customers.

As of 8th August, the current account was being accessed by 683 people, with customers being signed up when they attend events at the Monzo offices.

The preview was originally only available on iOS as the Monzo team was working to bring the Android app up to speed, but now Android users can register their interest in the preview and get involved.

 

What’s in the Monzo current account on Android?

• sort code and account number, so anybody can send you money and you can receive your salary directly into your Monzo account
• Faster Payments, so you can send money to any other UK bank account with a sort code and account number — it will arrive within two hours, but most payments only take a few seconds
• direct debits, so you can pay regular bills such as rent, utilities and phone contracts
• standing orders, so you can set up regular payments out of your account for things such as rent payments
• a MasterCard debit card, so you can spend anywhere that accepts MasterCard around the world, with a direct connection into MasterCard
• FSCS protection, up to a total of £85,000 eligible funds

Monzo is still working on some parts of the account, so some minor functions will not work.

 

How can customers get an account?

Monzo will be running events from its offices every week to give out as many current accounts as possible, so for now customers will need to be in London or able to travel to London if they receive an invite to an event.

However, registering interest does not guarantee customers a current account immediately.

Depending on how many people register, Monzo may not be able to give customers an account for a few months.

Last week, Tom Blomfield, CEO of Monzo (pictured above), apologised to customers for the recent card outages they had experienced.

“Unfortunately, we don’t know how long it will take our card processor to fix the issues, but we will always keep our status page up to date.

“People across the UK have come to rely on their Monzo cards and if at times you can’t use your card, you lose trust in us.

“These outages are unacceptable.

“I want to personally recognise that and apologise on behalf of the whole company.”

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