Monzo will launch its banking app in the U.S., but it may be a hard sell

Monzo card press photo
Monzo Press Kit/Monzo Bank Ltd

Monzo, a widely popular mobile banking service in the United Kingdom, is launching a “light version” of its original app in the United States this year. But while it garnered rave reviews in the U.K., Monzo’s popularity may not reach the same heights in the U.S. because the app will be launched this summer with a few limitations: such as a “light version” of the app with fewer features and the fact that Monzo isn’t an officially licensed bank in the U.S. yet.

According to a blog post published by Monzo on Thursday, June 13, the U.S. version of the Monzo banking app is expected to include the following features: International spending without fees, 24/7 access to customer service, person-to-person payments, immediate spending notifications, and a savings account feature known as Savings Pots. Monzo contends that starting out simply with a banking app with limited features will allow its U.S. customers the opportunity to collaborate with the company to make Monzo “the ideal bank account for the U.S.” However, Monzo’s form of collaboration will apparently require “face-to-face events in major U.S. cities” in which the company will meet with early users of the app to get their feedback and then further build the app.

But U.S. customers may not want to wait for a mobile banking app to become more fully featured, or for banking services that aren’t officially licensed and regulated in the United States yet, and would have to rely, as The Verge reports, on a partnership with Sutton Bank.

While Monzo’s slow launch in the U.S. may be well-reasoned, releasing a feature-light app could be a hard sell to American consumers, especially since as, The Verge notes, support for features like cash and check deposits, and Apple Pay and Google Pay also won’t be available to U.S. customers at first. In fact, money can initially only be transferred from either your existing U.S. bank account or your paycheck will have to be direct deposited into your account. So, Monzo may not be an effective replacement for U.S. banking services, at least not at first.

However, with some time and a few more available features, Monzo could still be a competitive mobile-only banking service in the U.S., especially for customers tired of spending or cash withdrawal fees. According to The Verge, Monzo also won’t charge overdraft fees in the U.S., either.


The stand-alone Palm is now available, but you don’t really need it

Palm, the reinvented company carrying the name of the brand we all know, has released a stand-alone version of its tiny phone. That means you don't need another phone to use it with, and you don't need to pay for another data plan.

Samsung dismisses rumors of a revitalized Galaxy Fold launching in July

The Samsung Galaxy Fold is real, but for how long? Folding out from a 4.6-inch display to a tablet-sized 7.3-inch display, this unique device has six cameras, two batteries, and special software to help you use multiple apps.

Apple Music vs. Spotify: Which service is the streaming king?

Apple Music is giving Spotify a run for its money, but which service is best for you? In our Apple Music vs. Spotify showdown, we compare and contrast all we know about the two streaming music services.

Dropbox’s all-new desktop app wants to be your one and only workspace

Dropbox has unveiled its most significant update yet as it continues to move away from its original core service as a place to store files in the cloud, toward a virtual workspace solution that offers all services in-app.

Why OLED gaming monitors may be further from reality than we thought

Earlier this year, Dell showed us the promise of an exciting new future for gaming monitors with the reveal of the Alienware 55-inch OLED gaming display. We loved it. But according to new reports, it may never see the light of day.

Walmart cuts $300 off Dell Inspiron 5680 gaming desktop for gamers on a budget

If you're stashing money but want an upgradeable rig that will go a long way, then this solid deal on the Dell Inspiron Gaming Desktop 5680 with Intel Core i5-8400 is for you. It is now available for only $700 at Walmart.

Genius uses 19th-century tech to prove Google copied its song lyrics

Song lyrics website Genius says that it proved that Google has been copying its lyrics and posting them on its own search results page. And Genius says it was able to do it by using a decidedly old-school form communications tech.

Check out Walmart’s steep discounts on Dell and LG gaming monitors

If you're a gamer looking for high-quality computer displays, you definitely need to take advantage of this deals from Dell and LG. These gaming monitors will fit your budget and your GPU.

A Surface Pen with an OLED touchscreen would actually be awesome

Microsoft patented another Surface Pen hardware feature, this time registering a patent for an OLED touch bar strip on the Surface accessory. This could enable dynamic setting change functionality in the next generation of Surface Pens.

Save $220 on a 2019 MacBook Pro with the latest Intel processor on Amazon

Interested customers can now grab a 2019 MacBook Pro with the latest Intel Core processor at a $220 discount on Amazon. This discounted MacBook Pro also features 512GB of SSD storage, a 15-inch Retina display, and a Touch bar.

You can grab the 2017 12-inch MacBook for $300 off right now, but act quickly

Despite the growing market for Windows ultrabooks, a MacBook is still what you need if you love the sleek interface of MacOS. The 2017 MacBook is on sale right now, too, but stock is limited, so act quickly before it's gone.

Apple's Mac Mini and MacBook Air are both great, but which is better?

Torn between the portability of a laptop and the power of a desktop? You aren't the only one. Apple offers great examples of both, with great unique and shared features for each. If we pit the Mac Mini vs. MacBook Air, which do you think…

Facebook’s crypto isn’t a new Bitcoin, it’s Disney Dollars for a new world order

Facebook has already secured tens of millions in investments for its new cryptocurrency for Facebook known as Libra. The platform is still being developed, but has already brought in backing from Visa, Mastercard and PayPal.

PowerPoint is easier than ever with Microsoft’s new A.I. tools

Microsoft's new A.I. tools for Office 365 users make mastering PowerPoint presentations easier than ever. The tools help you create stunning layouts, deliver data with impact, and brush up your delivery skills with smart coaching.