Re:Y Combinator invests in Monzo through its Continuity Fund
by krn on Tuesday June 25, 2019 @10:56AM
(#20274839)
I think it's pretty clear to everyone that 1% cashback can only be offered in North America and other markets, as the interchange fees for Visa and Mastercard consumer debit cards are capped at 0.2% of the transaction value in the EU.
So you need to spend £15k a month to recoup your monthly fee.
Natwrst have more generous cashback for their bill payments scheme alone.