You might be wondering why offer 10-15 Euro for a new use.
What Monese or Revolut or any NeoBank / Fintech startup want the most?
They want and desperately need users in order to keep up with their tough competition.
- Users = market share.
- Market share = investment and trust.
- Trust = accelerated growth.
Monese or Revolut have the option to pay for advertising too and they do that and should definitely do that.
As a matter of fact you might see an ad from them anywhere you browse.
Word of mouth is much more efficient than an ad.
When a friend tells you about Revolut or Monese, you tend to believe it more.
When Monese pays for ads, that’s not a guaranteed successful signup but
when monese pays you for the signup, that’s for a guaranteed new user.
In summary, all these Neo banks (sounds like The Matrix 2020) or fintech startups are in a race to get their cards in your wallet and the wallet cards space is limited.
This is why they are so eager to convince you to use their services.
Paying 15 EUR for a new user is not that much when normally they would have to run a lot of ads to get that.
And their competition is doing it, successfully, already taking a piece of the prepaid travel card action from them. And more are coming just as eager to give you their free cards and signup bonuses.
About the wallet space, Curve has come-up with a fix, the card acts as a wallet itself similar to Apple pay and Google Pay.
The more apps and competition the better for us users.
No more rule of the my way or highway banks. You still need those but now we have ways to keep them from taking more and more fees when travelling or exchanging or even when receiving money (TransferWise).
Write what you think about Revolut, Curve or Monese. Which one you use and why?
If you don’t have them, get free cards and really good signup bonus for Monese, Curve, Revolut, TransferWise here.
Monese, Curve, Revolut, TransferWise are few of links available.
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