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Tag: Monzo

UK digital bank Monzo relaunches premium accounts after original service flopped

UK digital bank Monzo relaunches premium accounts after original service flopped

Finance
Users of Monzo's premium account, Monzo Plus, will get sent blue cards with holographic foil to makeMonzoBritish financial technology start-up Monzo is giving paid-for checking accounts another go, with a revamped premium service it hopes will help generate a new source of revenue.Monzo, which provides banking services through an app, initially tried to launch a premium offering last year. Dubbed Monzo Plus, the packaged account was eventually scrapped by the firm due to complaints from customers.It has relaunched Monzo Plus as a subscription service that costs £5 ($ 6.30) a month and comes with perks including 1% interest on balances of up to £2000 and credit score checks. That may prove attractive to current users of the firm's "Pots" savings feature, who have seen interest rates decline...