I’m currently with the CO OP but would love to hear how ethical this bank is before I swap. Do you finance arms firms or oil?
Here’s the Monzo ethics page: https://monzo.com/ethics/
At the moment the only time your money is invested is in the form of overdrafts
I don’t think Monzo finance anything. It is not a big City firm after all
Apart from the blog not being updated for a couple of years this all sounds fantastic. I can feel a change
It was updated last August although nothing in Monzo’s proposition has changed since then
Unlike other banks, we don’t lend out large percentages of our customer deposits and those that we do, we do in the form of overdrafts and such. This makes our ethical policy very simple as we just don’t do many of the things people normally dislike!
They are ethical enough to not charge BS fees if a direct debit declines. This alone puts them above every other bank out there in my book.
I’ve never been with an ethical bank before and so far so good!