These are some new banks established in the UK. These banks have the potential to open bank accounts on the spot. Some of these banks also let you open UK bank accounts without proof of address.
The best part is, you don’t have to even go to any branch or offices.
Simply fill in the details on their mobile apps and then verify your identify by taking pictures of your documents and then a video of yourself.
In April 2017 the company was given a full UK banking licence and restrictions were lifted, giving it the ability to offer a current accounts like other standard high street banks.
Monzo was one of the earliest app-based challenger banks in the UK alongside Revolut and Starling Bank.
Revolut is another British challenger banks company that offers tech-led banking services.
It is one of the fin-tech banking firms that offer hybrid banking services such as GBP and EUR bank accounts, a MasterCard prepaid debit card or a VISA debit card, fee-free currency exchange, stock trading, cryptocurrency exchange and peer-to-peer payments.
The firm offers other services such as Insurance, Peer-to-peer lending, Remittance.
Starling Bank is an advanced challenger bank situated in the United Kingdom. Its central offerings currents and business accounts.
Headquartered in London, Starling Bank is an authorized and regulated bank, established by Anne Boden in January 2014. Boden previously held COO position at Allied Irish Banks.
Since its establishment, it has raised over £230m in funding. The bank got its financial licences from the Prudential Regulation Authority and the Financial Conduct Authority in July 2016.