Digital Bank Monzo has launched its latest premium package on Tuesday, which offers travel and phone insurance on top features at £15 per month.
In the world of banking subscriptions, Monzo is making its presence felt with its new Premium card, which “looks beautiful” with its white matte metal finish, according to the chief product officer Mike Hudack.
Carrying a six-month minimum contract, the new Monzo paid-for service will cost £180 per year and carry all the perks of Monzo Plus along with exclusive discounts, phone insurance, withdrawal of £600 fee-free cash abroad, airport lounge access, five free cash deposits per month, along with a 1.5% interest rate on deposits up to £2,000.
The new card weighs 16 grams and is made from a single sheet of steel. The Monzo Plus will also cater customers with credit checks and ability to create 5 virtual cards.
Additionally, the new Premium will enable customers with extensive travel insurance, which covers COVID-19, and made its sneak-peek in its annual report in the month of July. The company claims that the Premium account will come handy in the pandemic-era traveling since the insurance covers flight delays of four hours, baggage delay, and travel cancellation costs up to £5,000.