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Monzo was one of the earliest of a number of new app-based challenger banks in the UK. [5] Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a full current account. [6] As of June 2024, Monzo had over 9.3 million customers. [2]
State Bank of India (UK) Limited State Bank of India: India: StreamBank PLC Independently run Wales: Tandem Bank Limited: Tandem Money Limited: England: TD Bank Europe Limited: Toronto-Dominion Bank: Canada: Tesco Personal Finance Plc: Barclays: England: Triodos Bank UK Ltd Triodos Bank N.V. Netherlands: TSB Bank plc: Banco Sabadell: Spain ...
In January 2015, Charter Court obtained its banking licence from the Prudential Regulatory Authority, putting it among the first new banks in the UK to be granted a licence since the onset of the global financial crisis. This was followed in March 2015 by the launch of Charter Savings Bank as an online retail savings bank. [5]
In October 2009, Virgin Money applied to the Financial Services Authority for a full banking licence. [14] In February 2011 they announced their intention to lease a large office in Edinburgh. [15] On 8 January 2010, Virgin Money announced the acquisition of Church House Trust for £12.3 million, giving Virgin a small foothold in the UK banking ...
It first filed an application for a licence in the UK to the Prudential Regulation Authority in 2021. The same year, it became the country’s most valuable start-up worth a record 33 billion US ...
Virgin Money vastly increased its size and customer base in 2012 with the purchase of the so-called 'good bank' portion of the nationalised Northern Rock bank. In 2018, the entire UK operation of Virgin Money was sold to CYBG plc in a £1.7bn all-share deal which made the group the sixth-largest bank in the UK. [ 2 ]
Allica Bank is a British challenger bank headquartered in London and Milton Keynes. It offers a range of lending, savings and current account products to UK small and medium-sized businesses (SMEs). Allica Bank acquired its banking licence from the Prudential Regulation Authority in 2019. [2]
Revolut made a record profit in 2023, as the UK fintech giant continues its long wait for a British banking licence. The company made a pre-tax profit of £438 million last year, up from a loss of ...