The Big Change (banking license)


(Dave Berry) #1

So I’m wondering what happens when the banking license comes in and Mondo becomes a bank…

I’m being a good beta tester and spending practically all my money on Mondo now. I’ve linked my card to my online grocery shopping and Amazon, iTunes and Netflix. Then It struck me, am I going to have to do all this again when :mondo: becomes a bank. Will we keep our current cards or are they bound to Wirecard etc…


#2

Would it matter that much?
With Natwest for example when my card expires I get a new one and have to update details everywhere.
You might as well plan ahead at some point you will need to update them regardless.


( surohpotsirhC) #3

You’ve gone to town there. I’m purely using mine for day to day spending but I think you’ve raised a valid question. I guess it all boils down to the question you’ve asked, can we use our current card once full accounts are set up or would we need to transfer?


(Jonas Huckestein) #4

Unfortunately we won’t get around issuing new physical cards but we’ll otherwise make the migration as smooth as possible on the software side :slight_smile: I don’t think it will be much hassle to make the “switch”.

The worst case scenario regarding eCommerce merchants would be that you have to change your card with them, but we could show you a list of merchants you need to update.

Cheers, Jonas


(Dave Berry) #5

just trying to be a beta mondonaut - trying out as much as poss :wink:


(Dave Berry) #6

I suspected as much - will probably not change any more services across then until the full fat bank version is available. :wink:

[cue lots of questions about whether when you reissue cards they will say investor, alpha, beta etc. - all I care about is that it works!]


#7

Hopefully new cards display account holders name on