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The initial release will allow person-to-person payments, "pots" to split the pocket-money savings and international expenses at no cost. Monzo intends to become a fully licensed US bank with the help of a partner bank, but it is a "long process" – she would prefer to start providing a service to the United States. United and learn from it in the meantime.
It's not shocking that Monzo is making the trip across the Atlantic. The digital banking space is heating up and Monzo has both experience and momentum. Even a limited launch could make its way and make sure that you are at least aware of the company before it is ready to offer full banking services. If we waited until everything was ready, we would risk overriding existing options like Chime or Simple.
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