Whats the plan now?

[tom]

@jasonyau

Now Mondo has a banking licence and will seemingly announce its new name soon what changes will we see?

I’m writing a blog post right now - should be published on Monday.

@jasonyau

1.What are the restriction?

We can only accept £50,000 of deposits in total

@jasonyau

2.When are you launching current accounts?

Probably Q1 or Q2 2017

@jasonyau

3.Will we get new cards?

Yes!

@jasonyau

4.How will getting a banking license affect us?

Your deposits will be protected by the Financial Services Compensation Scheme (but not until we launch the current account). We’ll be able to offer functionality like Direct Debits and Faster Payments. We’ll be able to make loans in the form of overdrafts.