Mondo Bank Status


(Aran) #1

Hey,

I was wondering whether there’s any updates on the process for Mondo becoming a fully fledged bank and what the time frame might be before I can completely move all my finances to Mondo :smile:

I’m sick of my bank and the rubbish system I have to use to manage my finances and I’m just really keen to use Mondo as my bank!


(Ben King) #2

I don’t believe there’s been any update apart from “late 2016”


(Tristan Thomas) #3

Yeah, we are steadily working through the process to get regulated :slight_smile: @paul, @thomasageorge and @Patrick (and others) are making good progress – unfortunately we can’t share specific details but we’re still looking/hoping for authorisation later this year. The switchover to being a ‘full bank’ won’t happen immediately because there is then further technical work that needs to be done (and can’t be done until we have authorisation). Late 2016 onwards definitely seems like a good estimate for now – in the meantime though, we’ll continue to add features that make Mondo as similar to a full bank account as possible :slight_smile:


(Aran) #4

That’s good to hear! I’m really looking forward to getting rid of my ancient bank!


(Michael Jenkins) #5

Are there any further updates on the full bank? Timing (Jan/Feb?), features available at launch, roll out plan?


(Alex Sherwood) #6

It’s not going to be Jan / Feb unfortunately -

Tristan’s also confirmed recently that the roadmap’s up to date & the bank launch card will be moved to the Near Term (next 3 months) list, when Monzo has a better idea of how much longer it will be until the launch.