I’ve got one follow up question about cards after talking with some friends in the banking industry today. Please correct me if I’m wrong:
Currently, Monzo is using prepaid cards (via Gaileo is my understanding) that are funded by a Sutton Bank account (as confirmed by my friends and the Sutton terms that US customers accepted at signup). I assume the reason for the prepaid card instead of a real debit card is partially due to the last second issues with contactless cards. Will we be issued a non-prepaid/real debit card once the card replacement flow is completed or will Monzo continue using prepaid cards for the foreseeable future? The reason it matters is because, being a prepaid card, there are certain classes of transaction that will not be possible such as renting a car, a hotel room, paying utility bills etc. I assume thats why Google was declining it when I was trying to pay for my Fi account earlier but could easily be wrong.
Thanks again for your extensive answers and transparency!