3% of the UK is now signed up to the bank
UK digital-only bank Monzo announced it has reached 2 million customers milestone. This happens in two years since Monzo achieved its banking license. The previous milestone of 1 million accounts was reached by the bank 8 months ago.
Monzo’s rival Revolut has more than 4 million customers. However, Revolut also operates across the EU and in Australia, while Monzo runs its business only in the UK.
Monzo has shared a list of its achievements and major milestones reached since the bank’s founding in 2015:
- More than £10.7 billion has been spent by users.
- £2.9 million sent between Monzo users every day.
- 3 in every 100 people in the UK are now using Monzo.
- 35,000 new customers sign up to Monzo every week.
- Users spend around £31,434 every minute.
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