Heya guys, I’m a newbie here.
Well, first of all, I want to congratulate to all staffs of Monzo of having a bank status! I hope you guys will be different than the rest of the traditional banks I encountered. I hope you guys will shake things up in the near future! Since part of its foundation was crowdfunded, I wish I could’ve have known sooner so that I can contribute a little. But mehh…
I was round around the internet to look for prepaid cards that can be useful in my travels, until I stumbled upon this. My main intent of opening one was to have flexibility since I travel frequently. With interest in mind of signing up, I was bummed that it is only open to UK residents at this stage (I am from the Philippines, currently residing in Malaysia, soon might be residing in Maldives)
- Is it possible for a Non-UK resident to open a Monzo current/debit account (or planning to?)
(please say yes or maybe or planning to?)
Since Monzo is a registered bank in the UK, instinctively one might ought to have a UK address/identification/paperwork to open one - like most of the traditional banks I have encountered in a foreign country.
Well, I do not live in the UK and I do not have a fixed address since I live on rent most of the time wherever I go, And it will likely to continue to do so, since I’ll be mobile most of the time.
Having an ‘‘digital account / bank’’ like this will be great, since it will give me flexibility along the way.
- Are you guys planning to open a EURO/USD Account (or with any other major currencies)
Or having a current account that enables you to switch currencies wherever you go, in your phone? Like those nifty features in Monzo app.
Because of Brexit? Again, flexibility?
- Assuming that my smartphone and card are stolen simultaneously,
Lets assume out of unfortunate circumstances that I was robbed by a gang while my phone and Monzo card are stolen. Are there any planned procedures in place so that one can block any transactions or close temporarily the current accounts online?
- Secure transactions (especially online shopping)
Since I live in Malaysia, most of our banks here have a feature called the Transaction Authorization Code (TAC). Not sure whether they have a similar feature in the UK banks/elsewhere or not - if there are any, then it might be called something else. What it does is that whenever you are preforming an online transactions/shopping etc, and after entering the card details one will be prompted to a different page (mainly to their respective bank provider) to enter the code. To get the code, one must receive an SMS containing the 6 digit code (5 or 8 depending on the bank itself). Once a person enters the code in the page correctly, then it will be automatically deducted in to their respective current accounts, then one will be prompted another SMS message of such transaction. This way, it provides an extra layer of security, to ensure that transaction is made by that person itself.
Is Monzo planning to do such things or similar to it (or maybe an idea that can be added on to the App), assuming that one preformed an online transaction/shopping, instead of entering a code, one can just check through the app and approve such transactions?