London fintech challenger bank Monzo has launched a premium account service called Monzo Plus. The service costs £5 a month and comes with a new blue holographic debit card. Challenger bank startup Monzo has relaunched paid accounts as the unicorn startup seeks to diversify its revenue and push towards profitability.
Monzo Plus account holders will receive a new blue holographic debit card, and will be able to view and move money between up to 13 bank and credit card accounts in the Monzo app. Monzo Plus also offers 1% interest on balances of up to £2,000. Monzo Plus users will also be able to withdraw £400 fee-free while abroad, up from the £200 monthly limit on standard account holders.
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