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Online & Mobile Banking

Monese rolls out Direct Debit service

Monday 19 June 2017 | 10:46 AM CET

Monese, a UK-based digital bank, has launched direct debit functionality for its clients.

More than 75% of the company’s customers receive their salary on the Monese banking app, making this their primary current account. The new functionality comes in response to demands from its customers as 80% of UK consumers have at least one direct debit commitment.

Besides its direct debit functionality, Monese has also gained access to the UK’s Faster Payments network, which means that customers will be able to transfer funds to accounts within or outside the UK at faster rates.

Furthermore, the company has also expanded its number of locations where clients can deposit money into their accounts to 11,500 Post Office branches across the UK, and 29,000 PayPoint locations.

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