The partnership will allow Monese users to pay with a contactless Mastercard and gain access to full direct debit functionality. The current account service will be accessible in 20 European countries and in eight languages.
The new account upgrade gives clients access to a complete suite of banking services. Clients can open a Monese account in a few minutes without needing proof of residency in a given country. The digital banks makes it easier for unbanked migrants to gain access to financial services, a niche that several UK digital banks are specializing in.
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