Bó is one of the newest challengers to be launched by a legacy bank , entering into the market at the end of 2019 . A part of NatWest , the account is designed to be secondary to the legacy bank , allowing the tracking of monthly spending . Like a prepaid debit card , this service is similar to the early versions of Monzo . According to the site , customer ’ s finances and data are protected under the Financial Services Compensation Scheme ( FSCS ).

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