Banking Licence - with restrictions - tick

( related to Monzo CEO, Investor in Monzo ) #1

Good to hear that all the Mondo teams hard work is paying off - hope there aren’t too many sore heads from the partying :wink:


It’s official as it’s on the Trello board :tada:


Congratulations!!! :laughing::laughing::laughing:

(Alex Sherwood) #4

For anyone wondering where the card on the Trello board with this update is Banking License with Restrictions (AWR).

(Chris Richards) #5

Awesome news, congrats!

(Nigel Laverick) #6

Wonderful news :grinning::smile::grinning::mondo:


Woo hoo! No entirely sure what this means, other than progress. Is there anything extra that we can get now, as avid users?

(Rika Raybould) #8

Great to hear! :smiley: :tada: :tada:

(Kal Mba) #9

WOOPP WOOPPP!!:tada::tada::tada::tada::tada::tada::tada:
Sooo close to saying goodbye to Barclays!!
Great work team :mondo:

(Josh Bray) #10

Great news guys ! Well done to all involved


Awesome guys :slight_smile: :slight_smile:

(Stuart Cameron) #12

Will this bring the announcement of the new name…

(Sebastian Mauer) #13


Guess nothing much will happen until the Mobilisation process is over:

In carrying out the regulated activity of accepting deposits, the aggregate amount of deposits held by the firm at any time and may not exceed £50,000. Deposit has the meaning given in Article 5(2) of the Financial Services and Markets Act 2000 (regulated Activities) Order 2001. [Note: this restriction is imposed as part of the PRA and FCA mobilisation process for newly authorised banks. For more information on mobilisation see the PRA and FCA websites


Focus FS… hum… wonder what the new name will be :thinking:


Thats not their new name.

(Stuart Cameron) #16

Mondo is a trading title of Focus FS Ltd


That sorts that then. Thanks @stuart!

(Josh Bray) #18

At least it’s a step in the correct direction. They can work on getting an unrestricted licence.

(Alex Sherwood) #19

Nice bit of PR in the Wall Street Journal Digital Start-Up Mondo Gets Banking License.

Mondo will be able to offer current accounts in early 2017, after the license’s restrictions are lifted.

(Caleb Wong) #20

Congrats on being a bank!