London startup Monese is a banking app that lets migrants sign up for bank accounts in just 3 minutes
It makes a difficult task for people arriving in a new country much easier.
The 2-year-old startup can verify your identity with just a picture of your passport and a selfie, using a custom built platform.
Monese told BI that it now has 56,000 people on its waiting list wanting to sign up (it is invitation only at the moment).
Check out how the app works and what it looks like inside.
To sign up, all you need is your passport and a selfie. The custom-built identity verification service will then do the rest.
You can then link that card to the app, allowing you to doing things like block the card, order a new one, or check your pin number.
You can use the card as you would any other debit card and track all your spending from within the app. The dashboard shows your balance, how much you've spent across the month, and how much you've spent that day.
You can also make payments to other people from within the app. Payments to other UK accounts are free.
And you can do international payments from within the app. Monese says its rates are the same as TransferWise, which only charges 0.5%.
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