UK-based Monese, which enables foreign residents to open mobile current accounts, announced its expansion into 19 countries across Europe.

The company said in a statement that it would expand across Europe as of this summer, allowing users to open local accounts “even if they are not currently residing in that country”.

When launching in the UK in 2015, Monese came to market promising it would give users “a fully functioning UK current account in a matter of minutes”, as it looked to outpace the long-winded process foreign residents endure with traditional high-street banks.

The company operates an app that provides a sign up process, which involves taking of photo of their ID document and a selfie.

Monese said the new European accounts would be available in local languages, and customers would be “free to move anywhere in the Eurozone, safe in the knowledge that their local bank account will be accessible and useable” via the Monese app.

In terms of currency, users will be able to sign up for a Euro account, as well as a GBP account at the same time.

Individuals working in different European countries can also receive salary payments in local currency without being charged excessive fees.

“This offering takes the hassle and frustration out of setting up financial services that are vital in order to live and prosper in a country that isn’t your own,” said Norris Koppel, CEO and founder of Monese.

Monese added there were currently still 138 million unbanked people in Europe.

The company suggested this was down to traditional banks not evolving with “changing requirements of an increasing mobile and tech-focussed customer”, despite more people enjoying free movement and relocation across the bloc.