Monzo has officially opened for business in Ireland, the first steps in the UK digital bank’s plans for expansion across Europe.
Editorial
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
The bank will kick off in Ireland by offering personal, joint and kids current accounts and savings options to consumers and businesses. Lending, credit cards and investments are not currently on the menu.
Monzo says 100,000 Irish consumers had signed up to its wait-list ahead of today’s launch.
Chief executive of Monzo’s European operations Michael Carney, says: “The response to our waitlist shows just how strong that demand is. Ireland deserves a better way of banking, and its clear customers are ready for it”.”
The move into Ireland follows approval for a full banking licence from the Central bank of Ireland and Monzo’s decision to withdraw from the US market to focus on European expansion.
Monzo first launched in the UK in 2017 and today has 15 million customers in that market.