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News > Fintech

Over 500,000 people sign up to Monese

Tom Belger | 07:30 Wednesday 25th July 2018

Monese has revealed that over 500,000 people have signed up to its service.

The mobile current account provider reported that compared with the end of 2017, it was now signing up three times the number of customers each month.

The Monese app, website and customer service function is fully localised in 10 languages and provides local banking accounts in 20 countries. 

Accounts can be opened in 120 seconds as a customer’s identity can be validated within the app, while users can deposit cash at over 40,000 deposit locations.

Currently, 2,000 people sign up to Monese daily, with customers moving more than $2bn annually through their Monese accounts. 

Monese also found that the majority of its customers were using it as their primary bank account, with 75% of deposits being salaries.

Norris Koppel, CEO and founder of Monese, said it was exciting to hit half a million sign-ups considering it launched less than three years ago.

“We are proud to serve our customers: they have an unstoppable ambition to live and work around the world, and we believe they deserve instant and secure access to their money regardless of their financial history or place of address. 

“As we grow, we will continue to develop and launch new product features relevant for our modern mobile global users.”

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