Science and Technology

 How does Monzo bank work? You can use your card to pay for anything with money from your Monzo account. The first time you use it, you'll need to pay by Chip and PIN, but after that you can use your card to make online and contactless payments as well. Some countries use magnetic stripe, or 'Magstripe', payments when they swipe your card. Is Monzo a real bank account? Is Monzo a bank? Yes, "Monzo Bank Ltd" is fully authorised in the UK by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. What is Monzo bank good for? Monzo offers all the usual current account services such as receiving your salary, setting up direct debits, standing orders, withdrawing cash with a contactless Mastercard and transferring money. But it also lets you manage your money as well as just hold it. Is Monzo bank safe? You're in safe hands. As a fully regulated UK bank, your money's protected up to £85,000 by the Financial Servic...

 What is Revolut? Revolut offers a range of digital banking services in a mobile app targeted at young tech-savvy users, including: Transferring money abroad in 29 currencies A pre-paid debit card that enables cash machine withdrawals in 120 countries A crypto-currency exchange allowing users to convert currencies into Bitcoin, Litecoin, Ethereum, Bitcoin Cash or XRP Vaults for budgeting and saving money Mobile phone and overseas medical insurance With standard accounts, users get a free UK current account and a free euro IBAN account. There are no fees on exchanging in 24 currencies, up to £5,000 a month, and you can withdraw up to £200 a month from cash machines. Revolut also offers monthly subscription plans with higher thresholds for no fees, as well as instant access to crypto-currencies, cash back, travel and concierge service. Revolut's services are currently only available in Europe, but the firm has plans to expand into North America, Australia, Singapore and Hong Kong soo...