Can Monzo Compete With Revolut In Europe?

Monzo just launched in Europe, and the way they've done it is smarter than most people have noticed. One Irish banking licence. All 27 EU member states. Spain next. This is a bigger deal than it looks.

In this episode:

• Monzo just launched in Europe — and their Irish banking licence quietly unlocks all 27 EU member states
• Spain is next, and it's no coincidence — 1 in 3 new bank accounts opened there in the last 3 years were with Revolut
• We compare what you actually get as a European customer with each account right now
• The legal quirk in Monzo's Spain launch that could have serious implications
• Why Monzo customers hold more than twice as much money per head as Revolut customers — despite lower savings rates
• Both annual reports dissected: £4.5bn vs £1.7bn in revenue, and the numbers that actually matter
• Can Monzo — late to the party and lighter on features — genuinely compete with Revolut's 68 million European customers?

Check out our website DepositScout.com for the latest savings rates. 

Connect with us (via LinkedIn)

Jan: https://www.linkedin.com/in/jan-watermann/

Jonny: http://www.linkedin.com/in/jonny-pease

Got a question or topic you want us to cover? Drop us a message at jonny@technicallymoney.com

Transcript

SPEAKER_01 0:00

Okay, welcome back to another episode of Banking Without Borders. So Monzo just launched in Europe, and the way they've done it is actually really smart. They started in Ireland back in April.

SPEAKER_00 0:08

Free accounts for all the family. You've waited long enough. Monzo.

SPEAKER_01 0:13

But Ireland isn't really the point. The real reason is that an Irish banking license gives them access to all 27 EU member states. And with that, they've already announced their next target, Spain. Which is also a very deliberate choice because this market has already proven that digital banking works. And a stat that I find utterly astonishing is that one in three new bank accounts opened in Spain in the last three years were with Revolut. So Monzo isn't going somewhere that's untested, they're going somewhere that's already been cracked open. And Revolut, N26, WISE, Bunk, all of those banks are in their sights. So the question isn't really whether Europe is ready for this kind of bank or is ready for another digital bank. I think that answer is clear. The question is, can Monzo compete? And what is their actual plan? But before we get into that, Jan, you spotted something very interesting about how Monzo's Spain launch works and how it could potentially be illegal.

SPEAKER_00 1:08

Yeah, Johnny, um, it could potentially be illegal, at least to our understanding. So what Monzo has done is they've launched uh a wait list in Spain. And if you look at the requirements on the website, this seems to be only available to Spanish residents. But under EU law, my understanding is that they can't afford that. As an EU licensed bank, interesting. I'd understand it that you would have to offer a basic account to any EU resident who applies, right? So whether they're they're based in Germany, whether they're based in France, as long as they don't hold a bank account in that specific country. So in in Spain in this example, Monzo would have to offer some sort of basic account. That's my understanding, at least. It seems like they understand this slightly differently. Also, you've mentioned they've launched in Ireland. They did that actually last month in April 2026. And um, if you look at the website, I can't find any information about uh about non-residents being able to open open up a basic account. And that could be could be yeah quite a uh dangerous topic for them, but you know, time will tell whether they'll get actually get into trouble for that. Maybe we also understand this uh this requirement wrong. Um I don't know, but um to me it's pretty obvious. And um yeah.

SPEAKER_01 2:19

So any regardless of where you are, as long as you're living in the European Union or perhaps maybe the European economic area, you could legally have access to any digital bank that holds an EU license, regardless of where they may stipulate that they're available. So if Revolute are available in, say, I don't know how many jurisdictions now they have in the European Union, probably more than 15. But if there's one that they don't service and you live there, you could get a Revolute account regardless just because you live in the European Union, is that correct?

SPEAKER_00 2:49

Yeah, not quite. Good example, Spain, right? Monzo plans to launch in Spain, Revolute is already live in Spain. As someone who lives in Germany, who who's doing potentially business in Spain, who needs a Spanish bank account for some reason, you know, could be whatever, but they want to open up a Spanish bank account and they don't have one yet. That's a really important um criteria to look at. Any bank would have to provide them with a a basic Spanish bank account, um, in that case. That's my understanding at least. Um Monzo would have to provide their Spanish bank account that they have available in Spain, um, also to someone who is not living in Spain. That's my understanding at least. Same with Ireland.

SPEAKER_01 3:27

That's really interesting. I think when we talk about the outlook for Monzo in Europe, it's really important to provide context on the behemoth of Europe in terms of digital banking, which is Revolut and the product that they're offering, or the set of features, or the plans, the tiers. And I know a lot of people listening to this and watching this will be very familiar with Revolut, so I'll be quick here. But this is what Monzo are coming up against. So Revolut have a free tier, they have an expensive tier, and it goes all the way up to 55 euros a month, depending where you are in the world. That might be 60, it might be 65 euros. They offer so much. They've got a free local IBAN, you get fee-free spending, you get fee-free ATM withdrawals, I believe, up to 200 euros, you know, you get fee-free currency exchange up to 1,000 euros, you get a savings account at 1.15% for the basic tier. You've got Rev points, you've got an app rich with features, crypto, stocks, rewards, it's everything you could ever envisage. You've got e-sims, you've got probably mobile phone contracts coming to Europe at some point. There's a lot going on here. Jan, could you I don't think it's going to take you very long, could you share with us what Monzo have, at least what they're offering in Ireland? I appreciate they haven't fully launched in Spain yet.

SPEAKER_00 4:36

They've just launched their free account. So we we know Monzo offers typically the free account, then they offer perks, um, and then they offer max, these these paid accounts of additional subscriptions. Um in Ireland, that's not the case. They literally just launched their free account. It's a um it's a solid bank account though, um, which is arguably uh better than Revolut. Not arguably, it's clearly better than what Revolut provides in the standard tier. Uh so you get a local local Irish IBAN, you get fee-free spending abroad, and they use the the Mastercard Exchange rate. They do not use the Monzo rate as Revolut does with the Revolute rate, where there's a markup um somehow included. So that's it's a better travel card. Yes, good. And then you get an you get 300 euros in fee-free ATM withdraws every 30 days, so that's a hundred more than what Revolute provides. After that, it's a 2.5% fee. On the instant access savings account, you get 1.6% AER, while Revolut Standard provides 1.15%. So that's better. And then you get this this really intuitive and amazing app, right? Yeah, yeah, yeah, it is. Which is which feels a lot less cluttered than what Revolute has to has to offer. But what you don't get is you know these additional things that Revolut is known for: stock trading, eSIMs, insurance, these kind of things, right? You can't access that within within Monzoyet, um, and you also don't have any any sort of subscription upgrade available, right? But who knows, maybe that will come. But for now, I think their strategy is be launching a really, really good basic bank account within Europe, within several European countries, EU countries, and then have um yeah, build up their customer base from that. And once they have a solid amount of customers within the EU, um, most likely they will they will uh start launching their paytiers as well, just a matter of time.

SPEAKER_01 6:15

Some of these Monzo features they sound very intentional, like 300 euros of fee-free ATM withdrawals being 100 more, the savings account being better than Revolute. Do you think there is an argument that you could make that Monzo have clearly looked at the incumbent, which is funnily enough, Revolute now, and Monzo the challenger? You think Monzo looked at what Revolute are offering and go, well, we've got to we've got to do better than them. And it's not even that challenging.

SPEAKER_00 6:37

It's not challenging. And in the UK, they're already doing better than them. If you compare Revolute Standard to Monzo's uh standard account, Monzo is clearly the winner. It's it's not even a question. Monzo has the better pure financial um benefit banking account. A hundred percent no questions asked.

SPEAKER_01 6:55

Yeah. And that's and that's quite clear from you know how much money Monzo are making per customer and the amount of deposits they've got per customer, um, which we'll get onto shortly. Um, but I just I just want to hold on this for a moment. So if Monzo are offering initially a better bank account, basic bank account than Revolute, the challenge is going to be overcoming the stickiness of Revolut's products because they're not offering that Yan. Not yet, at least. You know, this is initially a beta test almost, but they have to start offering package stuff, don't they? They've got to get they've got to find the the Monzo Max for Europe, they've got to find the Monzo perks for Europe to try to overcome the stickiness of Revolut customers because there will surely be people that are happy with the basic banking features, but love the extras that Revolut have to offer. And if you're watching this, listening to this, and you're, you know, you're in the European Union and you're using Revolut, we'd love to hear from like what compels you to use a bank account that isn't necessarily that competitive. Like Jan's just laid out the free tier. That's what we're talking about today, the free tier offering 1.15% savings, you know, limited ATM withdrawals. Are you using that tier? And if you are, what compels you to use it? Because there must be something better. I mean, I was looking at Open Bank, I think, or is it Open Bank from Santander, Jan?

SPEAKER_00 8:12

Open Bank, yeah. Exactly.

SPEAKER_01 8:13

Buddy, they're offering 200 euros of cash back annually for having two direct debits. They pay 20 euros per month for having two direct debits. I mean, that's got to be more compelling than what Revolut are offering, right? Because at least you can get that money back, particularly if you don't have a large amount of savings or you put your savings elsewhere because Revolute aren't really offering much in terms of savings. So what is it? It must be the products, it must be the extras, right? It must be the subscription tiers that make people stick to Revolut.

SPEAKER_00 8:38

That's a good question.

SPEAKER_01 8:39

So if you can if you can outbank Monzo, if you can, if you can, if Monzo can outbank Revolut and outbank them on the extras, that could then start, you know, competition then could really ramp up. Yeah, I think I think it's also funny.

SPEAKER_00 8:55

I think it's also the seamlessness, the the app, right, the intuitiveness. If you um open bank, for example, it's a good example, but their the app is just not as good as Revolutes, I would say. You know, they do so much marketing around that. They they want to be the the challenger bank, the travel card, right? If you go to a Spanish airport, if it's an international one, chances are you'll see some some sort of uh Revolute ATM or you see some sort of Revolute advertising, they're literally everywhere now and they're growing so fast, it's insane. And um, sometimes not the companies with the best products win, but the companies that do the best marketing. And Revolute Standard is it's an entry point. People start with Revolute Standard as they would start with with Monzo 3 tier, and then you know look at other tiers as they, you know, as they're satisfied as as time passes, um, you know, they might decide to upgrade to premium to metal in order to make the most out of it. But I don't think that's it's literally in anyone's mind when they sign up with Revolute initially.

SPEAKER_01 9:48

Interesting. Word of mouth was a big, big way for Monzo to acquire customers here in the UK. I mean, they were one of the first digital banks, so it was quite easy to talk about them, you know, in pubs, bars, clubs at work. You know, the orange hot coral card or the orange card was attractive and people would ask you, what is that? Yeah. I don't think that's gonna have the same effect in Europe because we know that digital banking has already taken off. And like you just mentioned, Revolute have got a fantastic app. They've got all sorts of funky cars themselves as well. So I don't know if that's gonna be a huge pull either. While I think Monzo have got, obviously I agree, I think they've got the better banking product. I still don't see how, again, curious to hear what people have to say about this in the comments, how they can dethrone or even take some of Revolute's market share. Besides those people like us, like the people probably watching and listening to this, that have a like an interest in these things. So they open the account because they're interested in seeing what it looks like. But on a large scale, I think Monzo are gonna have to do a lot to try to take a wider European audience and start to get the momentum of word of mouth.

SPEAKER_00 10:47

They have big pockets, right? They have big pockets, they they make $1.7 billion in uh pounds, sorry, 1.7 billion pounds in uh in revenue every single year. Um amazing, amazing from from how many customers? Uh from 15.2 million overall customers, and that's more more per customer than Revolut earns, actually. It's a it's a nice side effect. So Monzo earns 112 pounds per customer per year, and Revolute on the other hand, they only earn 66 pounds per customer per year. Um, and that's yeah, it's quite fascinating, right? So, why does Monzo earn twice as much for uh per customer than Revolut does, for example? I guess uh because Monzo is the better core financial product. Yes. People choose Monzo for their daily banking because they believe that the standard tier is already good enough and more comprehensive than what Revolute provides. And Revolute, on the other hand, it's it's uh no no good additional account that you might have alongside your your existing high street bank account or Monzo account.

SPEAKER_01 11:42

Yeah, so Monzo have twice as much money per head, but far fewer customers. That is fascinating, Jan. And that must come from the interest that they well uh a significant portion of that, I imagine, is being earned on the interest that they have or generate from customer deposits.

SPEAKER_00 12:01

Potentially.

SPEAKER_01 12:02

Which is, I believe, 25, 25.7 billion pounds in customer deposits.

SPEAKER_00 12:07

That's half of what Revolut has, right? Half.

SPEAKER_01 12:10

Revolut has exactly 50 billion pounds in deposits. And so many more customers. Will people treat Monzo in the same way they treat it in the UK, though, in Europe, whereby they seem to have more faith in depositing large sums of money? We know Revolut have only just become licensed in the UK. That's probably been a bit of a challenge, caused a bit of friction. Um, you know, Monzo are going into Europe somewhat unknown. They don't have the same, I don't know, brand equity or reputational equity that they have here in the UK. So people might be a little fearful to deposit money with Monzo in Europe. They're gonna have to overcome that as well. Whereas Revolute have been licensed in Lithuania since 2018, have uh, you know, had deposit protection all that time. That might be a barrier of entry as well here, Jan.

SPEAKER_00 12:54

Well, I'm not sure. Monzo holds a banking license, so there's literally um it's literally equal, equally good, right? An an Irish banking license is equally good to a Lithuanian one, uh same deposit protection. Um and therefore, what's the issue? I don't think that people in Europe really think a lot before before deciding to invest uh or to uh deposit a lot of money within with with their bank because there's literally zero risk.

SPEAKER_01 13:19

So what are people in Europe looking for? What are they looking for? It's a good question. You know, chime in on the comments please by all means. But what are you looking for then? You know, are you looking for a Revolut with e are you looking for the whole package, or do you just want your month you just want a better bank account because that's what Monzo are gonna offer you here? And trust me, their app is fantastic. I know Yan Yim got access to it. I've used it, I've tested it for months. I've got videos on the channel if you want to learn a little bit more about it. Um, it's fantastic, and it's just as good as Revolut, if not better. It's more subjective in some degree. So you might like the colours, the layout of Monzo, but ultimately the products comparatively to Revolut in terms of budgeting, like the basic banking stuff, like budgeting, savings, savings challenges, Revolute and Monzo are tied. So, how how are you going to how how what is going to attract you to one or the other? That's what I want to hear. That's what I want to know about.

SPEAKER_00 14:08

That's a good question. I can say I can speak for me personally. Um, if I was in Europe right now looking for a decent bank account, it's probably the core financial benefits that would attract me. Um, also, as people know, I hold a Revolute account, but it's literally just my side account, and I'm not subscribed to any pay tier because I'm not in need of these subscriptions personally. I do know people who who uh use these pay tiers who are very, very satisfied and obviously take advantage of them. And that's you know, don't misunderstand me. It's not a not me criticizing their pay tier. I believe they hold a lot of value if you use these subscriptions. But for me personally, if I was to to to look for a bank account to open up, you know, I would I would literally look at the core financial benefits because then I'm in need for a bank account and not for a subscription bundle.

SPEAKER_01 14:49

I don't know a huge amount about business banking in the European Union, but if it if it's anything like the UK, it's probably behind personal banking slightly by a few years and a bit more legacy, a bit older, a bit more archaic. Yeah, and I I imagine the savings rates aren't that good. And i Monza are also going after business banking customers, um, which they're already more successful at in in the UK comparatively to Revolut, um even though they're you know four to five times smaller than Revolut, they've actually got more business banking customers. So they're gonna take that playbook, they're gonna apply it to Europe, and they've already got like tiers, like paid tiers. Jan, I think there may be three tiers that they've got for business banking customers in Ireland. Um so then you know they're unafraid of having paid tiers. Okay, that tells you something. And I think that we'll see that in Europe. I think they will launch with different, you know, they'll launch different subscriptions, different paid tiers in the European Union, because that is also just a fantastic source of recurring revenue. It's also super, super important. I just want to take a slight, slight sidetrack and talk about Chase, Jan, just quickly, because and there is this is important. I want to get your thoughts on this. Savings. Is this attractive? Because neither Chase neither Monzo or Revolut are really offering a very compelling savings rate, but Chase UK, now Chase DE, Chase Germany have just just launched 4% savings in in Europe. Do you think that is necessary to compel people? You know, Revolut are offering a better savings rate to European to the European Union if you pay for it. Maybe that's something Monzo will need to consider as well. Because I mean with sport for choice in the UK, but 1.6% is what Monzo are offering. Is that even attractive, mate? I I don't I don't get it. It's better than Revolut, but it's not Chase who are offering 4% in Germany.

SPEAKER_00 16:30

Yeah, Johnny, that comparison just doesn't hold up. You cannot compare GBP interest rates with uh EUR interest rates at the moment. Um the base rate in the UK is 3.75%, base rate in the in the European Union um is 2.0%, um, and therefore Monzo offering 1.6%, that's 20% lower than the base rate. That's that's that's as if they were offering um yeah, make the math here really quick, um 20% off 3.75%, like 3% or so in the UK, right? So it's it's decent, it's not not bad at all. Obviously, there are better uh better UK savings rates available. Just take a quick look at deposit scout.com. Um hate to plug that in here right now, but it's it's it's it's a good example. Um but Monzo by no means there it's bad. 1.6% is somewhat competitive. And yes, Chase launched in Germany at 4%, but that's also limited for four months, and that's a savings account, a pure savings account, uh, to my understanding. But there are better options. If you're just looking for savings rate, you could you could go sign up with Trade Republic. Um, they have a current account in place that's available within several EU countries. Um, I mean, actually, I think most of them offers 2% and that's tied to the base rate. So doesn't matter how the ECB rate moves, you know, if it if it uh rises, the the Trade Republic interest rate would rise as well. Um if it drops, same there. Um so it's Monzo is not winning on the on the rate, but I also don't think it's a it's a criteria that would exclude them, you know, from from being a good bank. I think that's too competitive.

SPEAKER_01 18:04

Yeah, and to be fair to them, in Ireland, like they started with a waiting list of a hundred thousand people. Like they're they're already off to a pretty good start out there. Now they've got this very competitive bank account with this good savings account. Word of mouth should help with their growth, whether or not it can put them on the same trajectory, the same growth path as Revolut, that's yet to be seen. That would be incredibly impressive if two to three years from now they're catching up with Revolut. But by offering a better foundational bank account, they could certainly put them on the right track. You know, who's gonna win in Europe if we look across a five to ten year path uh outlook, Jan? I mean, uh if I was to put my money Okay, let's do this. This could be fun, right? Who would you bet on succeeding or being the bigger European bank? So forget about the UK. We're talking about European Union, forget about the UK, forget about the rest of the world. Who's gonna be bigger in the European Union in five, in ten years?

SPEAKER_00 18:58

Yeah, Johnny, that's a good question. Um Revolute obviously has a big head start, but I would say Monzo with their current banking product, which is superior to what Revolut has to provide in their free tier, I would say they catch up fast. That's my guess. And I would say they'd probably be be um they probably somewhat on the same level in a few years. That's my guess. Um Revolute might have a few more customers, but Monzo would have probably more more active customers or more valuable customers because they just attract people because they they offer good banking, and they don't attract people because they have so many, uh, so many different subscriptions. Um and that's yeah, that's that's that's my point of view here. Could be wrong. Time will tell.

SPEAKER_01 19:37

This episode is sponsored by us, specifically deposit scout.com, which is a site that Jan and I built with our fingers. Savings rates in the UK are changing constantly, and most people have no idea whether the account they're still using is competitive. The rate that topped the market six months ago might be in the bottom half of the table today, and your bank is certainly not going to tell you. Deposit Scout tracks every major savings account and cash ice in one place, so you've got easy access, fixed rates, and they're all updated daily, and you can set up rate alerts so you're never caught out. We've also just added rate history graphs, and this is where it gets interesting. Take Plum, for example. You can see they've changed their advertised rate repeatedly over the past few months. So that tells you that if you like the look of one of their rates, you're probably better off locking in sooner rather than later before they move it again. All of that and much more is available at depositscap.com. We'll put the link in the description box below. Monzo have closed the US, and I think this is important context. They've not retreated necessarily, they've just dialed down to focus on Europe. Whereas if you look at Revolute's operation, it is global from Japan to Australia to New Zealand to I don't know, North America, uh to South America. So they're spread thin. Um, but they also Revolute don't really have capital constraints, do they? They've got a $75 billion valuation. There'll be an IPO at some point to raise money. I'm sure Monzo will IPO at some point as well to raise money. You know, and they're also the primary bank account for a lot of people in not only Spain but France and Germany, they do have a significant advantage. But at the same time, Monzo's focus will lie heavily in Europe now. The UK is set and forget almost, and they get a gun for Europe, and I think that will work in their favour.

SPEAKER_00 21:19

That's an advantage.

SPEAKER_01 21:20

And if anyone can compete with Revolut Yan, it's Monzo. I think when you look at the others, N26, Bunk, I think from a branding perspective perspective, N26 has some problems. I think bunk is too expensive.

SPEAKER_00 21:34

Yeah.

SPEAKER_01 21:34

Monzo are offering a free account that is better than Revolute, that is better than a lot of the competition, and it is on top of a fantastic app, fantastic customer service, great brand, equity, reputational equity in the UK. So they have a significant opportunity here. I mean, Jan mentioned something interesting about Monzo immediately having a better travel card because they're offering MasterCard's FX rates rather than Revolute's own. Exchange rate, right? So is Revolute your current travel card? Uh, people in Ireland, you know, if you're in Spain, Germany, would you consider changing to Monzo when they launch? Because they're offering you probably going to be offering you a better travel card.

SPEAKER_00 22:13

I would absolutely, especially because the comparison, you know, in comparison to N26 or Bank, for example, I think they they have a bigger advantage, even. I mean, Revolute is a is not a bad credit card, just not a good one either, in my opinion. But um N26, for example, their standard tier, terrible card. Um, I think on every um every every euro that you spend abroad, there's a some sort of markup on there. I think 1.75%, if I'm not wrong. That was the last time I checked or so. We can show that on the screen. Um, but it's definitely not the mid-market rate. It's it's it's not good at all, in my inner, my uh my point of view.

SPEAKER_01 22:44

And Monza have just taken what's worked in the UK, they've just offered something fair, they've not tried to profiteer from international spending. What could stop them? Capital.

SPEAKER_00 22:52

Regulatory problems? That's the thing. That's that's what stopped N26 in the past. They had uh many issues with people um trying to do uh yeah, criminals essentially signing up, um trying to, I don't know, launder money through their accounts or something. I'm not exactly sure what it what happened there, but uh the German financial watchdog had to restrict them um so tightly. Um at one point they were I think not allowed to onboard any new customers anymore. Um and that's you know, uh for a bank that's in hyper-growth stage, it's like um if you're taking a bath bath and you you pull out a plaque, right? It's that's what happens there. It's it's not good at all, right? Um and it's literally uh it took out all the yeah, all the power, all the fuel, you know, and then they just lost the battle. And then they lost the battle.

SPEAKER_01 23:37

Exactly, and then they're being forgotten about their branding was never strong that strong.

SPEAKER_00 23:41

They were on par with Revolute in the beginning, and they they were even even uh superior in Germany, and then it just died out, and I believe now they're only available in in four or five countries. Uh Spain is one of them. Um and it their product just isn't as good. Their product just isn't it.

SPEAKER_01 23:56

Maybe Revolute would just absorb them. You know, this could be a bit of a consolid consolidation phase neo banking in financial tech. Revolute could just buy out N26.

SPEAKER_00 24:05

Yeah, maybe that's what we we we'll see in the future. The the bigger challenger banks um acquiring the smaller ones. I mean, it would be natural.

SPEAKER_01 24:12

Monzo might have problems with regulation, they may have problems with capital expenditure, like they've been so dependent on word of mouth. I think 76 or 79% of their customers, new customers in the UK come through word of mouth. That's not gonna work in Europe. They're gonna have to be willing to spend on marketing, which you know, their pockets aren't as deep as Revolution. That could stop them.

SPEAKER_00 24:30

But they're still very deep.

SPEAKER_01 24:32

They're still very deep, and ultimately they are very squeaky clean. I think they had some anti-money laundering issues or some regulation issues regarding like new accounts were being set up with like funny addresses. I don't know if you remember reading about this. People were setting up addresses as like 10 Downing Street. Um But I they're still a lot cleaner, I think, in terms of reputation than Revolute. Um, and that's gonna be on their side here. So I don't really see anything that could necessarily stop Monzo from succeeding. Keen to hear what people have to say about that one as well. You know, what could prevent Monzo, particularly if you are, you know, a European or a non, you know, like I'm I'm European, I'm from the UK, but you know what I mean from the European Union. Particularly love to hear like what you know what could stop Monzo from compelling you to sign up? What is it that you're looking for? A lot of things to talk about in the comments, so please jump in, let us know your thoughts, and um pleasure as always, right, Jan?

SPEAKER_00 25:22

Pleasure as always. It's been it's been great. Um good topic, also. Um I'm curious what everyone has to say. Right into the comments as Johnny just said, and um yeah, we see you in the next episode, hopefully.

SPEAKER_01 25:33

Mm-hmm.

SPEAKER_00 25:33

Yep. Like and subscribe.

SPEAKER_01 25:38

See you soon.

SPEAKER_00 25:39

Bye.