Iām not so sure, Revolut is a successful global entity, surpassing 70mil customers across the globe, ~20% of those in the UK.
I think Monzo will fall flat in Ireland except those who want the new thing.
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I think Monzo need to step up their game. TikTok style videos recorded with someoneās phone on Instagram does not compare to proper TV adverts with Graham Norton all over the mainstream TV channels.
Also from a product point of view - Revolutās multi currency accounts vs Monzo ārolling outā the feature to a select few people is no contest, theyāre being left behind.
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Honestly I think to a degree itās the signup incentives - it was ā¬25 on the waitlist and I think ā¬10 now for referrals. Signup incentives are not really a thing with Irish banks.
I donāt personally know of anyone (at all) who has much interest, but have seen a lot of threads of people on threads elsewhere who are signing up - the incentive is clearly a factor but thereās also a lot of ālooking forward to Monzo because Revolut closed my account / refused me an accountā - thereās even one of someone whoās signing up because they say no bank at all will offer them an account and they canāt wait to not have to use cash and their partners account 
Time will tell and Iām interested to see. Funnily enough theyāve just mentioned on TV about two new banks that have just opened in Ireland but havenāt played the piece yet. I assume one is Monzo, and the other is Avant Moneyās current account which is about to come online (theyāre part of Bankinter and I for one am very interested to see what this offers as I have my mortgage with them).
QUICK EDIT: Itās ptsb that have been sold, so maybe something happening there too.
Like I said previously, Iām really sure the EU license is the thing here, because I canāt really understand the rationale otherwise for this particular market the same way I just didnāt get why they chose the US.
But then, I guess I understand people much better than Monzoās business decisions 
I still hope they do well regardless of what I think, competition is sorely needed here either way.
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Theyāre talking about Monzo now on Virgin Media and donāt even have any materials for them so showing Revolut marketing material instead 
The guy discussing is from bonkers.ie (a comparison site) and mentioned 100,000 people have signed up including him (but itās out of curiosity only) and that they may have missed the advantage to get their name embedded in the same way as Revolut.
In Monzoās favour he did say that Monzo are renowned / using their advantage for good customer service as their differentiator over Revolut.
Also mentioned in the article were bunq, N26 as lesser known names and coming soon - bankinter (Avant).
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Someone from the Monzo Ireland team forgot to release the media pack to the media
Hot Coral is too bright for this time of morning
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More people in the demographic that Monzo are targeting are watching Instagram/TikTok than they are Graham Norton.
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Not strictly Monzo but he does talk about them a bit
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The interesting bit is that you get the feels, that he regrets a little getting a banking license, over playing a bit freer as a EMI for longer, and how that might have helped Revolut.
You can also see heās spent to much time in Silcone Valley
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Did make me laugh when he talked about how much Monzo give away for free that they could have charged for.
Not really sure what else they could charge for considering they lock basic things like virtual cards behind a paid plan already
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itās the pre 2020 Monzo, not the current money making iteration of the bank tbf, I always felt the bank was squimish about making money prior to TS coming in
Not exactly Monzo specific, but I did spot a Monzo card, and an interesting video nevertheless.
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Well thatās pretty poor, seems like the CS getting the query entirely wrong after making you wait a day or two is still a thing though
Doesnāt give much confidence 
Iāve never used CHAPS but fintechs and CHAPS donāt seem to mix well (e.g. Chase)
Given Monzo didnāt have IBAN for ages I have very little confidence in traditional cross-border transfers. For high value transfers such as property purchase, I would not be confident in any fintechs tbh. 
It would be more reliable if they were direct participants, instead of using an intermediary.
If iFAST can afford to join CHAPS and settle payments directly, Iām sure Monzo can.
Iād guess that Monzo are not seeing enough CHAPS volume to justify going direct. Strange though, given how many customers Monzo have. Iād expect the volume to be there.
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Chase still donāt support CHAPS? I figured that was just a limitation at launch and would quickly be resolved. I mean, JP Morgan UK are direct participants and have been for many years.
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Unless youāre doing large business then joining CHAPS makes no sense, the only Fintech that it would make sense to possibly join CHAPS is Revolut because of their interest in private banking where theyād be processing large transactions over Ā£1M. Outside of that Faster Payments makes sense for most regular banks and fintechs where their customers base are unlikely to be transferring massive amounts other than on the rare occasion where going via partners and passing on the fee work fine
There are advantages to CHAPS beyond the higher limits. It remains the default payment method for large value payments, even if the amounts are within the limits of Faster Payments.
Itās the default method for some types of transactions because of the irrevocability of a CHAPS payment. There are some circumstances where Faster Payments can be reversed.
And whether itās a rare requirement or not would very much depend on the person.
Directly participating would make sense for Monzo and I suspect they will at some point. It would improve reliability and make it easier to resolve when things go wrong.
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