Monzo

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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

  • Personal IBAN

  • Affiliate program

  • Cashback

  • Crypto

  • SEPA

  • Loyalty program

  • Insurance

  • Multicurrency account

  • SWIFT

  • Card

Details

Name: Monzo
URL: https://monzo.com/
E-mail: 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
Card
Multicurrency
Other options
Business account

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: No
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: No
SEPA: Yes
SWIFT: No

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Monzo reviews by users

Review and rate Monzo

Monzo OVERVIEW

Monzo — can this banking app replace your traditional bank account?

6 min read 02.03.2021

Monzo — can this banking app replace your traditional bank account?

Overview by Asma Ahmed

Erich Böhmer

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.

Brianne Bond

Great app, breaks down your spending well every month and the round up transaction feature is great