The UK, where Monzo is from, has (from what I can glean as someone who has not lived in the US) a much better banking experience than the US. Cheques are rarely

The UK, where Monzo is from, has (from what I can glean as someone who has not lived in the US) a much better banking experience than the US. Cheques are rarely used by most people because bank transfers are instant and free,d there is a functional Direct Debit system for automated variable-amount billing, most bank accounts are free with the every-day services (payments, bank transfers, ATM withdrawals, cash deposits) also being free, EMV “Chip and PIN” payments have been the default for well over a decade, contactless is widely deployed, etc. The difference from the US is probably that there are less institutional hurdles to establishing a new bank.