BANK ACCOUNTS FLEXIBILITY AND CONTROL
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The Competition and Markets Authority (CMA) is consulting on its provisional decision to launch a formal investigation into UK banks. In other words, the CMA wants to increase competition in banking to better meet the needs of
consumers. And alongside other issues, it is concerned that the Big Four banks have a 77 per cent share of the current account market.
But what is the problem? A host of challengers have entered the market – including Metro Bank,Tesco Bank and M&S Bank. Regulatory changes have facilitated new entrants, and the British Bankers Association argues that new technology will allow for more innovative banking services and competition.
Moneymona offers an e-current account with no credit checks including many benefits. The account offers rewards from many high street retail outlets along with a sort code and account number enabling you to receive and make payments electronically. The account offers you a budgeting tool so you can offset funds for bills and regular payments.
Our accounts are simple with a Free registration and card. The only mainstream product not available is direct debits you can set up standing orders and be in total control. The account is also perfect for students and parents who need to provide a stable economy for a user. Check out our website for more information.
