Latest News on Mobile Banks – August 2019

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August is hot, but not hotter than the Mobile Banking trend in the Fintech world these days.

And it’s only natural: mobile banking is paperless and borderless, meaning that the customers get to have all the normal banking features, safety, regulation and service of the regular big banks, but in a modern, lightweight, and handy digital form-factor of a mobile application.

There are a bunch of modern, efficient and high-tech mobile banks offering borderless banking solutions, so you can keep spending without the hassle and worry of extra fees.

As the new competitors are entering the market one after another, the pioneers and top mobile banking players are exploring new horizons.


July became the month that N26, one of the leading European Mobile Bank’s based in Berlin, expanded its services to another continent and launched in the US.

Since the launch in 2015, N26 has been a great success, and today it serves 3.5 million customers from 24 European countries, transferring overall about 2 billion euros a month. More than 10,000 new customers sign up every day, primarily through word of mouth.

Now N26, the first European mobile bank to reach the US, has 100,000 customers on the US waitlist collected, and they will get access to the service first. The full launch for the open public is expected later this summer. So it is a major milestone in their journey to become not just European, but a truly global mobile bank.

Apart from that, N26 announced the new Membership plan, called simply “You”.
N26 You expands on all the extended benefits of the N26 Black membership plan and adds to it comprehensive travel insurance and extended warranty on qualifying purchases, as well as free ATM withdrawals in any currency around the globe.

Users can pay with this card abroad with no foreign transaction fees or markup costs, N26 You gives you the freedom to roam without restrictions.

By the way, the N26 You Mastercard is customizable itself and users get to choose from 5 new colors to make the card personalized.

Read more about N26 in our N26 Review.


Another top mobile bank, from London, Monese is also expanding the borders of their service, by offering new features and options to its international clientele.

Launched in 2015 as the first 100% mobile current account in the UK, the very next year Monese was awarded Best Challenger-Bank 2016 at European Fintech Awards, and by today the company has managed to secure almost million clients, and this number is growing by thousands daily.

So from July 2019, secure and private payments with Monese card through Apple Pay, became available in 13 additional countries: Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Liechtenstein, Lithuania, Malta, Portugal, Romania, Slovakia and Slovenia, Hungary and the Czech Republic, bringing the overall number of European countries served to 29.

Monese also launched a new collaboration with PayPal, so that from now on users will be able to add a Monese card to a PayPal wallet, for easier, faster payments at PayPal’s millions of businesses around the world, including PayPal’s solution for checking out online in seconds, without entering card or password details — One Touch™.

These features are now available to Monese personal account customers in the UK and will be coming to the rest of Europe in the coming months.

Read more about Monese in our Monese Review.


Revolut is another UK-based Fintech startup that offers mobile banking from 2015 with prepaid debit cards, currency exchange, crypto exchange, and peer-to-peer instant payments, all via a good-looking and user-friendly mobile application.

In July, Revolut announced that they launched a brand new free plan for Business customers. The new plan comes with no monthly subscription and is designed with freelancers and small business owners in mind, in order to help them save especially at the beginning of the commercial road.

The new free plan includes access to the main Revolut features, such as local GBP and EUR accounts, multi-currency subaccounts, free transfers, and mobile bank app.
They also include 5 local GBP or EUR transfers per month for free and £0.20 per transfer after that limit.

Read more about Revolut in our Revolut Review.

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