Monzo has launched a new version of Monzo Plus, a premium version of its popular current account.
The UK-based digital bank originally launched a version of Monzo Plus in 2019. Monzo Plus updated version includes third-party bank account aggregation, virtual debit cards, custom transaction categories, spreadsheet export, and credit score updates.
Monzo Plus customers can also earn interest on their balances of up to GBP 2,000, and there are several more traditional perks, such as discounts at partner merchants and GBP 400 of fee-free withdrawals abroad.
All in all, according to TechCrunch, the new new Monzo Plus aims to be a pandemic-proof deviation from the more traditional packaged bank account. Costing GBP 5 per month, rather than bundle a host of perks that might otherwise be up-sold individually, such as travel or gadget insurance or additional cash-back and merchant discounts, as many other banks and fintechs do, this third Monzo Plus attempt is more akin to a paid-for software upgrade.
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