Hi… Just wondering what the process will be for getting a full account once Mondo has its banking licence?
Will everyone be automatically upgraded?
Will there be a credit check in place similar to high street banks?
If so, how strict is that likely to be?
Will we be able to use the bank account switching service to move direct debits over?
Thanks.
They would find a way to switch pre paid accounts into normal ones. And yeah the current account switching service would be available (might not be initially). Don’t know about the credit check!
You’ll have the option to upgrade 
Yep, there’ll be credit checking to meet the various regulations we have to meet. At some point, we’ll support the current account switching service—still unclear whether that’ll be at launch or not though!
With regards to credit checking, my credit used to be really good however since Experian changed the way they do things (dropped my score by 250) and Equifax (via Clearscore) is just a joke will beta users that have been with Mondo for a while have their usage etc taken into account should there be any search issues?
To be honest, the exact way that’ll work is still not set in stone. We’ll definitely try to be flexible and just to get a current account with no overdraft shouldn’t require much of a credit score
As an 18 year old student my credit score is near non-existent.
Cool I mean I don’t envisage any issues but you never know what could come back.
Normally for students is fine, banks do have their own way to work with students. (except Santander!)
Does Santander do something different? I thought they were very well regarded for student accounts.
Having a “good” credit score shouldn’t impact your ability to get a full Mondo bank account, but it may mean we’re not able to offer you an overdraft (aka “credit”).
We’re working out the details of the switchover now, but it should be pretty straightforward. You’ll need to agree to new Terms & Conditions, and we’ll send you a new debit card (no longer prepaid!). You’ll get an account number and sort code, and everything should “just work”. Hopefully!
would this also include your name on the card?
As long as I can get one thats all that matters, I don’t think I can go back to my old bank now I have been using Mondo… anyway I’m not fussed about overdraft, I don’t have one now and don’t really want/care for one
I’m intrigued ? My credit score has been roughly the same for years ? What changes by the credit reference agencies are you referring to mate?
Thank you for all the responses.
I feel the same way as Danny. The thought of having to go back to RBS full time chills my bones!
Viva la Mondo!
Basically Experian have changed the way they score to make it in line with the lenders etc, I didn’t really listen as it was all waffle. Anyway they basically knocked 250 points off my score.
I highly recommend Clearscore for anyone looking to check their credit score Free, cool startup etc.
I have that, it is ok but their scoring is 500+ points off that Equifax so I don’t know how they do their scoring.
I’ve used Noddle for several years - they offer “free credit reports and scores for life”
But how do you know what 1-5 means?
I tried them a while back… Says I am a 1 
If you sign-in and click on “My Dashboard” is now shows the “My Credit Rating 1-5” score and a “My Credit Score 1 - 999” score.