The Monzo Current Account Preview

[jzw95]

@chomer75

Out of interest, why do Monzo use MasterCard and not Visa for their debit cards?

Paul (co-founder and deputy CEO) explained this last year:

Visa or MasterCard? - MasterCard

In the UK although MasterCard and Visa are very well known and widely accepted, for historic reasons most debit cards (linked to current accounts) tend to be Visa - around 90% of them. The reason for this is back in 2006ish when ‘Switch’, a UK debit scheme run by NatWest and HSBC, merged with Maestro (part of MasterCard) and then HSBC and NatWest decided to issue Visa debit cards. I was looking after current accounts at Norwich and Peterborough Building Society at the time and did the same - M…