Monzo is an app-only digital banking service for individuals and businesses. It lets you manage your money, set spending budgets, review account summary, receive instant notifications, travel easy with the possibility to withdraw cash free of charge (up to a limit), use its MasterCard debit card for free payments, manage recurring payments, send money etc.
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Services
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Personal IBAN
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Affiliate program
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Cashback
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Crypto
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SEPA
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Loyalty program
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Insurance
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Multicurrency account
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SWIFT
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Card
Details
| Name: | Monzo |
| URL: | https://monzo.com/ |
| Сontacts: | help@monzo.com |
| Languages: | English |
| Web version: | No |
| Mobile apps: | Yes |
| Available in this countries: | GBR |
| License: | PRA |
| License №: | 730427 |
| Jurisdiction: | GBR |
| Founded: | 2015 |
Main
| Account opening fee: | 0 GBP |
| Service fee: | 1) Monzo = 0 GBP/month
2) Monzo Plus = 5 GBP/month 3) Monzo Premium = 15 GBP/month |
| Deposit methods: | 1) PayPoint = 1 GBP
2) Other Methods = n/a |
| Withdrawal methods: | ATM Card PS = 0-3% |
| P2P fee: | 0% |
| Personal IBAN: | Yes |
| SEPA: | Yes |
| SWIFT: | No |
Card
| Card provider: | MasterCard (Debit) |
| Issuing fee: | 0 GBP |
| Service fee: | 0 EUR/month |
| Multicurrency: | No |
| NFC: | Yes |
| Virtual card: | Yes |
| ATM withdrawal fee: | 1) 0% (GBR)
2) 0% (EEA) 3) non-EEA: - 0% (<= 200 GBP/30d) - 3% (>200 GBP/30d) |
Multicurrency
| Main currency: | GBP |
| Number of currencies: | 1 |
Other options
| Cryptocurrencies: | No |
| Trading: | No |
| Credit: | 33.4% per year (variable) which is equivalent to a rate of 39% EAR (variable) |
| Interest account: | https://monzo.com/features/savings/ |
| Budget planner: | Yes |
| Bill split: | No |
| Insurance: | No |
Business account
| Account opening fee: | 0 GBP |
| Service fee: | 1) Monzo Business Lite = 0 GBP/month
2) Monzo Business PRO = 5 GBP/month |
| Deposit methods & fees: | 1) PayPoint = 1 GBP
2) Other Methods = n/a |
| IBAN: | Yes |
| SEPA: | Yes |
| SWIFT: | No |
| Corporate card: | Yes |
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Monzo reviews by users
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Monzo — can this banking app replace your traditional bank account?
Monzo — can this banking app replace your traditional bank account?
The banking system is absolutely wonderful,Transactions is very fast and reliable no regrets banking with monzo I can recommend it to family and friends the are the best bank ever.Keep trusting Monzo for more .
Better avoid them at all cost been customer from two years and more when suddenly,few days ago I was in the bed I found a transaction declined to Tesco in another part of England where I have never been before with my old card,since I had my old card with me I tought it has either been cloned or stolen from Google pay,I then had a look some transactions I didn't recognize worth £50 or so. They said they will close my account in August ,now we are on the middle of pandemic is my only bank account. And I need to get in branch of some bank to open an account. I think FCA should revoke their license. Because instead of protect their customer they close account for no reason at all. Please be aware not open this account monzo try any other street bank.
Excellent, Monzo is the best bank I’ve ever been with and now with the monzo plus account I enjoy banking with them even more will never change my bank ever!
There is a chance that the information associated with a payment is wrong and Monzo expect you to core it. You are unable to talk to someone to get help only promised via a text chat system that someone will help. Worst decision I ever made switching to Monzo. Never had these issues with a proper bank.
Great app, breaks down your spending well every month and the round up transaction feature is great