When you become a bank


#1

Hi there,
Just ordered my card, and something occurred to me.
When you become a licensed bank, do people with accounts automatically get transferred over? Would there not need to be further verification and what not?


(Josh Bray) #2

There will have to be some more verification done from a regulatory point. Other than that don’t know


(James Billingham) #3

They have previously said that there will be a migration process to convert your Mondo prepaid account into a real current account.

They have also said that for anyone who - for whatever reason - decides to not make that migration, they’re not currently sure what they’ll do.