While I personally think fractional trading is a really positive step, and I know it’s not exactly new but is becoming more main stream I truly think it is going to lead to millions of pounds left unclaimed in the long run.
Their will be loads of accounts opened in the hype and then forgotten about. £5 here and their and people’s interest will drop.
I see more and more of the challenger banks also offering Bit coin and the likes. I am glad Monzo has not went down that path. You need to walk before you crawl and we (Monzo) are still very new to the banking world.
I’d love to see this feature on Monzo. Hargreaves Lansdown (I think the UK’s the largest) charges up to 12 pounds a trade, and the app could be so much better. Monzo has the platform to potentially get younger people investing, and could be an area where they could really make some money whilst undercutting the traditionals. I would love to see an index linked fund option as an alternative to Monzo’s saving pots
Now this is interesting. UK-US transfers (and vice versa) are now available at no cost on Cash App.
If they can launch cards here, they might be able to get some traction. Their UK app hasn’t had any meaningful updates for a long time.
They have already launched a debit card for US customers. It is a nice black customisable card. It gives free ATM withdrawals if you have direct deposit with them. The cool feature is “boosters”. It offers % or fixed amount discount when the card is used to purchase at select merchants.
Yep, a few friends in the US have it. Be cool if they launched it here - the UK app doesn’t do a great deal at the moment - just P2P.
They are expanding their services into debit card, bank account with direct deposit, stock trading with fractional shares, crypto trading and boosters.
Are you referring to features being added to their US offering, or are they actually expanding these to the UK too? Because if Cash UK gets feature parity with the US, it’ll be awesome. I’ve been lusting for their debit card for many years.
I refer to the features offered to US customers.