Chime just added it’s 5 millionth customer a year ago it only had 1 million. The US seems ready for an agrresssive push from Monzo
They have 5 million accounts, not 5 million customers.
Five Million People or Accounts?
A recent survey of US consumers by Cornerstone Advisors produced an estimate of about 1.6 million people banking with Chime.
Why the discrepancy between number of customers and number of accounts? Chime tells customers:
“When you open your Chime Spending Account, you are presented with an option to open your Savings Account.”
It’s likely that most Chime customers are opening that account since there’s no risk to them to do so.
Oh thanks for the information very interesting article, nevertheless I think that US is getting ready for someone to disrupt the scene.
Surely Monzo is no different on this point though? The same can be said for ANY bank.
Yeah - that’s not my quote, it’s from the article. I agree with you.
Coral Crew, can we merge threads? There’s literally 3+ now that are separate. It’s so much cleaner and easier to follow a company via one thread… every bit of news doesn’t need its own topic.