Monese review Ireland

Sign up for a UK current account no matter where you are in Europe or the UK.

Updated

monese card ireland
Monese is a 100% mobile bank that gives you a current account with no proof of address required. It also offers a number of other features such as personal financial management tools and fast, cheap payments. In this review of Monese in Ireland we break down the features and costs so you can decide if it’s right for you.

Product NameMonese Simple
Monthly fee€0
Card fee€4.95
ATM fee for Euro withdrawals€0
ATM fee for other currencies€0
Currency conversion fee2%
Free currency conversion limit€2,000 per month after which a 2% fee applies
Fee-free ATM withdrawal limit€200 per month after which a 2% fee applies
More Info
Product NameMonese Classic
Monthly fee€5.95
Card fee€0
ATM fee for Euro withdrawals€0
ATM fee for other currencies€0
Currency conversion fee0.5%
Free currency conversion limit€9,000 per month after which a 2% fee applies
Fee-free ATM withdrawal limit€900 per month after which a 2% applies
More Info
Product NameMonese Premium
Monthly fee€14.95
Card fee€0
ATM fee for Euro withdrawals€0
ATM fee for other currencies€0
Free currency conversion limitUnlimited
Fee-free ATM withdrawal limitUnlimited
More Info

How does Monese work in Ireland?

Monese was launched in 2015 as an “inclusive, instant and on-demand” bank account. You can open a UK current account and manage it on your smartphone as long as you live in the European Economic Area or the UK. You don’t need to provide a UK address to get an account.

Once you’re signed up you will receive a debit card to access your money. The app offers a number of features including tools for budgeting and financial insights, international transfers into eight currencies at rates up to eight times less than the banks and various security features.

Monese has a free account option as well as two paid account options which come with additional features. Plus, two customers of Monese can manage their finances together with a joint account. Your bank account is completely portable across 20 countries in Europe and the UK. If you move to another country, your Monese account comes with you.

What features does Monese offer?

The Monese account and app come with a number of features. These include:

  • Simple signup. You don’t need proof of address to signup and you can open an account in minutes. Just download the Monese apps, take a selfie and scan your ID document such as a passport or ID card from your country. You will usually receive your account number and sort code in minutes.
  • Dual currency account. Monese lets you open a UK current account as well as a secondary account in Euros or GBP at no extra cost. You can then switch between these at any time.
  • Joint account. Manage your money with a partner or another person in your life. Simply open a seperate account and start paying for shared bills and other expenditures.
  • Multilingual support. You’re able to get customer support from Monese in 12 different languages via phone, email and chat.
  • Foreign currency spending. You get a certain amount of spending in foreign currency on your card depending on the account you choose. For example, when spending in foreign currency on your Monese card with the Monese Simple account you won’t be charged a fee for spending up to €2,000 per month after which a 2% fee applies. For Monese Classic, the fee-free limit extends up to €9,000 per month after which a 2% fee applies. The Monese Premium account offers unlimited foreign currency spending.
  • Payments. Monese offers a number of ways to transfer money. This includes foreign transfers in up to eight currencies which are made at the interbank rate, direct debits, standing orders (recurring payments) and the option to pay other Monese users instantly. Apple Pay and Google Pay are also available.
  • Virtual card. Get an extra layer of security when you shop online, or while using contactless payments. Your virtual card number will be different than your debit card. You can easily lock and unlock the virtual card directly from your app.
  • Budgeting. The “instabalance” feature gives you a view of where your money is at in real-time so you can see how much you have to spend while the balance graph allows you to visually track your spending. All budgeting features are accessible in the app.
  • Top up your account. If you reside in the UK, you’re able to receive your salary directly into your Monese account using the account number and sort code you receive when you sign up. Monese have also partnered with the post office and PayPoint so you can top up your Monese account in person at over 40,000 locations across the UK. If you reside outside the UK you’re able to top up your account by linking your account with another debit card, through a SEPA credit transfer or a SWIFT payment.

How much does Monese cost?

There are a few costs to be aware of with Monese, including:

  • Monthly fee. The Simple account comes with a €0 monthly fee, the Classic account comes with a €5.95 monthly fee and the Premium account costs €14.95 per month.
  • Card fee. The Monese Simple account comes with a one-off card fee of €4.95. This is the cost for the delivery of the card.
  • Currency conversion fee. You won’t pay for a currency conversions up to a certain limit. You can receive free currency conversions up to €2,000 per month after which a 2% fee applies with the Simple account, while the Classic account lets you make free currency conversions up to €9,000 per month after which a 2% fee applies. There is no limit with Monese Premium.
  • ATM fees. You can also make free ATM withdrawals up to a certain limit. With the Simple account, you’ll get free ATM withdrawals up to €200 per month after which a 2% fee applies. For Monese Classic you can free ATM withdrawals up to €900 per month after which a 2% applies. There’s no limit for Monese Premium.

What do you get with each Monese account?

Monese has three account tiers: Simple, Classic and Premium. Each account comes with the features as outlined above, but there are a few differentiating details between the three tiers. Here is a breakdown of how these accounts work in more detail, including fees and features.

Compare all Monese products in Ireland

Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
Monese Simple
€0
Within 14 days
GBP, EUR
A dual currency account with no foreign currency fees up to €2,000 per month. Features include budgeting tools and multilingual support.
Monese Classic
€5.95
Within 14 days
GBP, EUR
A dual currency card designed for travellers with no foreign currency fees up to €9,000 per month and foreign transfers in several currencies.
Monese Premium
€14.95
Within 14 days
GBP, EUR
A premium card with no fee for international payments, no foreign currency fees and unlimited ATM withdrawals at home and abroad.
loading

Compare up to 4 providers

How can I transfer money with Monese?

  • UK bank transfers. You can pay friends, families or bills with bank transfers. Monese uses the Faster Payments Service and says that it typically takes between two and four hours for your payee to receive the money you’ve transferred.
  • Foreign transfer. Monese lets you transfer money abroad into eight different currencies for up to eight times less than using a high street bank. It uses the “interbank rate”, much like Revolut. The delivery time for your money depends on the processing times of the receiving bank. Depending on the currency you’re sending and the time (try to send the funds before 4pm), your transfer should take between two and four business days.
  • Foreign transfer from a Eurozone account. If you’re transferring money to someone with a Euro account through a SEPA payment, then it should reach them by the next working day or the day after that.
  • Direct debits. You’re able to set up a direct debit and automatically pay for utilities and services in the Monese app. This includes things such as your gym membership, phone contract, or your electricity bill.
  • Standing orders: Set up a standing order, also known as a recurring payment, to make routine payments for a specified amount, payee and date.
  • Pay your contacts: Make payments to friends and family straight from your phone’s contact list. See who’s already a Monese user, and to whom you’ll be able to make an instant payment.

Is Monese safe?

As a current account provider, Monese makes security a priority. To register you are required to provide a form of ID and in some cases identified through a video call. Your money is also safe behind a passcode which can be changed at any time and you are logged out after 20 minutes of inactivity. If your phone or card is stolen, customer service is available Monday to Saturday during working hours.

Monese is registered with the FCA (Financial Conduct Authority) and is authorised to deal in electronic money, but isn’t technically a bank. In practical terms, this means that your money is held safe in a segregated account so that if Monese is longer in business you will receive your money back.

Pros and cons of Monese

Pros

  • Fast and easy set-up (no credit check or proof of local address needed)
  • Free card payments and ATM withdrawals abroad
  • Free direct debits
  • Free second account in Euros or GBP
  • Free joint account (there’s a €4.95 card delivery fee)

Cons

  • You need to pay to get certain features that come standard with other mobile banks, such as free foreign currency conversions
  • Traditional banks are still necessary for most of your needs

How do I sign up with Monese in Ireland?

You’re eligible to sign up with Monese if you’re at least 18 years old and live in the European Economic Area (EEA). If you meet these criteria, just download the Monese app from the iOS app store or Google Play store to get started.

You will need an ID document such as your national ID card, driver’s licence or passport and be ready to do a quick video selfie of yourself. Your phone must also be capable of receiving text messages.

Compare a range of digital banks in Ireland

Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
N26 Bank Account
€0
Up to 10 working days
EUR
Benefit from no monthly fee, no currency conversion fees and a raft of in-app budgeting features to help you save.
VIALET Current Account
€0
N/A
EUR
An IBAN account you can use to manage your money and spend in over 200 countries worldwide, fee-free.
SWIRL Prepaid Mastercard
€0
2-3 working days
EUR
A secure, prepaid card that lets you manage and spend your money globally. Use in-store and online at over 30 million locations worldwide.
Revolut Standard
€0
Up to 9 working days
GBP, SEK, PLN, CHF, DKK, NOK, USD, CZK, CAD, AUD, RON, EUR
Enjoy no monthly fee, no currency conversion fees up to €6,000 per month and hold an array of currencies in your account.
loading

Compare up to 4 providers

Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
bunq Premium
€7.99
Up to 10 working days
EUR
A card linked to up to 25 individual IBAN accounts. Earn interest on all money in your account and benefit from competitive rates and fees.
N26 You
€9.90
Up to 10 working days
EUR
A smart IBAN account with no currency conversion fees, complimentary insurances and no ATM fees here or abroad.
bunq Premium SuperGreen
€16.99
Up to 10 working days
EUR
An account with an exclusive stainless steel card. Help the environment – a tree will be planted for every €100 you spend.
N26 Metal
€16.90
Up to 10 working days
EUR
Receive a stainless steel Metal card available in 3 shades, an insurance package and exclusive offers.
loading

Compare up to 4 providers

Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
Wirex Travel Card
€1.20
Up to 4 business days
GBP, CHF, CZK, CAD, AUD, EUR, SGD, MXN, JPY, HKD
A multicurrency account that lets you spend abroad in over 150 currencies and an array of supported cryptocurrencies.
bunq Travel Card
€0
Up to 10 working days
EUR
A no monthly-fee card that lets you travel and spend globally using the real exchange rate. Security controls and simple payments.
loading

Compare up to 4 providers

Frequently asked questions about Monese

Picture: Monese

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site