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.
Rate
Services
-
Personal IBAN
-
Affiliate program
-
Cashback
-
SEPA
-
Loyalty program
-
Insurance
-
Multicurrency account
-
SWIFT
-
Card
-
Crypto
Details
| Founded: | 2015 |
| Has mobile app: | Yes |
| Has web version: | No |
| Has apple pay: | Yes |
| Has google pay: | Yes |
| Contacts: | help@monzo.com |
| Languages: | English |
| Reference number: | 730427 |
| Available in these countries: | GBR |
| Jurisdiction: | GBR |
| Licenses: | PRA |
Main info
| Has insurance: | No |
| Has trading: | No |
| Has budget planner: | Yes |
| Has bill split: | No |
| Has iban: | Yes |
| Has sepa: | Yes |
| Has swift: | No |
| Virtual card service fee: | 0 EUR/year |
| Service fee: | 0 EUR/month |
| Main service fee text: | 1) Monzo = 0 GBP/month
2) Monzo Plus = 5 GBP/month 3) Monzo Premium = 15 GBP/month |
| Account opening fee: | 0 GBP |
| Withdrawal fee: | ATM Card PS = 0-3% |
| P2P fee: | 0% |
| Main currency: | GBP |
| Number of currencies: | 1 |
| Credit: | 33.4% per year (variable) which is equivalent to a rate of 39% EAR (variable) |
| Interest account: | https://monzo.com/features/savings/ |
| Referral program: | The referral bonus gives £5 to both the customer and to the new friend who they manage to sign up for an account |
Card
| Has virtual card | Yes |
| Has card | Yes |
| Has multicurrency card | No |
| Personal credit and loans Credit cards | No |
| Virtual card service fee | 0 EUR/year |
| Card provider | MasterCard (Debit) |
| ATM withdrawal fee | 1) 0% (GBR)
2) 0% (EEA) 3) non-EEA: - 0% (<= 200 GBP/30d) - 3% (>200 GBP/30d) |
Business account
| Business account has IBAN | Yes |
| Business account has SEPA | Yes |
| Business account has SWIFT | No |
| Business account has business card | Yes |
| Business p2p fee has conversion | No |
| Business account deposit methods and fees has conversion | Yes |
| Business account withdrawal methods and fees has conversion | No |
| Business account service fee | 1) Monzo Business Lite = 0 GBP/month
2) Monzo Business PRO = 5 GBP/month |
| Business account opening fee | 0 GBP |
| Business account deposit methods & fees | 1) PayPoint = 1 GBP
2) Other Methods = n/a |
| Business account deposit methods and fees percent: | 1.1% |
Merchant
| Has recurring payments | Yes |
| Has cards acquiring payments | Yes |
| Has email invoicing | Yes |
| Merchant account opening fee | 0 EUR |
| Merchant service fee | 0-5,8 EUR/month |
You may also like
Reviews by users
Review and rate Monzo
Monzo overview
Monzo — can this banking app replace your traditional bank account?
Monzo — can this banking app replace your traditional bank account?
S. Alexander
Wouldn't recommend
Support is useless but also condescending to the point of being insulting
Ashley Wong
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 .
Ella Thornton
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.
Spencer Parker
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!
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