And it’s not possible to scan something that isn’t yours, is it? 
Not quite sure what you’re getting at…
It is possible, (https://en.wikipedia.org/wiki/Basic_access_control) user would still need to manually type in the passport number, DOB and maybe Expiry date (Information needed for the communication/decryption process) and then you can freely communicate/read passport chips!!
Some bank accounts require you to switch to them and will not just open a new bank account for you. I am assuming this will not be the case with Monzo and that we will be allowed to keep our other bank accounts opened if only for the first few months.
Once Monzo launches as a fully licenced bank. What is the policy on holding other bank accounts?
Surely if the details are physically written on the passport, this wouldn’t be an acceptable method for decrypting the data?
Passports are just a proof of ID, you show it to prove that you are who you say you are. All that chip holds is the information that is displayed on the photo page in digital form + maybe fingerprint profiles and other biometric details (depends on the country of issue). If you have access to the information by being able to read it on the page, what is the point in restricting access to info which you can already access??
agree. apart from checking ID and residence which may utilize a soft check of credit reference files there should be no need for a hard check of your credit files unless you applying for credit such as an overdraft. For a current account without any overdraft I see no need. An up to date credit check would need to be done if you later apply for credit so why not leave any credit checks to only be done if and when credit is applied for. If a customer does not want credit any check is unneccessary.
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Will current accounts be offered to active community members first? As in will there be the opportunity to request to be in the first tranche of users that transition from pre-paid to current accounts or will it be the number that people first signed up?
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If I remember from the open office they haven’t fully decided/worked out how they’re going to offer the accounts as they slowly ramp up.
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Will current customers be notified? Or will we be automatically sent an account?..
Customers will be able to keep their prepaid accounts for a while (at least), here’s Tom’s comments on the plan -
If you need some big debits to help counter that £50k credit, I’ll happily let you have my overdraft!
Honestly tho, I have so many DD’s that I would struggle to change over without the switching service. And an overdraft is pretty important.
I’d ideally love to move my ISA and credit card at some point.
Also interested in how much the app is going to have to change to support multi-account types (MasterCard and current account).
Will the debit card allow foreign currency withdrawals the same way that the pre-paid card does now?
yes…it will be the same
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