Cyprus Mail

Banks pushing customers towards Revolut and Monzo

If an EU citizen could give their business to any EU bank, then competition would be massive.

However, the EU requires that its citizens do their banking in the country where they reside, which automatically puts smaller states at a huge disadvantage because they don’t have as much choice as larger countries.
But perhaps this situation is already changing?

Mobile/Virtual Banks like Revolut and Monzo are now VERY popular with young adults all over the EU, and the range of services that they offer is rapidly increasing.


Our View: Time Competition Commission stepped in over bank attitudes

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