Monzo user base reaches three million
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Challenger bank Monzo now has three million customers, with sign-ups continuing to rise for the app-only bank.
Monzo reached the milestone only four months after acquiring two million users and the company said it is currently taking on 55,000 new customers every week.
The app’s smooth interface and features, including saving and budgeting tools and fee-free spending abroad have proven popular with users.
More than £18 billion has been spent through Monzo since it was founded in 2015, with £4.9m sent between users every day.
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