★★★★★
★★★★★
Monese is a digital banking app and card using smartphone technology to improve your banking experience. Monese is great for travellers and works well if you are looking to set up an account quickly in another country. It allows fee-free card payments and ATM withdrawals abroad. Let’s take a closer look.
Monese has provided basic banking on smartphones since 2015. It gives people in the UK and abroad a chance to experience streamlined, modern finance.
This feature is what makes Monese unique: the ability for anyone to open an account anywhere in the UK or continental Europe. Whether or not you have a UK address, a credit history or fixed income, you can access Monese and open an account today. The app is currently available to anyone in the European Economic Area.
Monese is completely portable across 30 countries across Europe and, if you move to another country, your Monese account goes with you.
Monese works like a traditional banking system, but more streamlined. Like with most digital-only accounts, it’s all managed through the app. You can choose from a free account or pay £5.95 for the Classic plan or £14.95 for the Premium plan.
Below are some of the key features and benefits of Monese:
Monese has the option of opening an account across Europe making it easier to spend money in the UK and on the continent. Being able to switch instantly between your UK and European accounts means you’ll be able to spend abroad like a local. You can also open an account in Romanian lei.
All Monese’s pricing plans offer some level of fee-free spending across the globe, but with different limits. If you have a free plan, you get up to £2,000 of fee-free card payments abroad per month, and up to £100 of fee-free foreign ATM withdrawals. If you have a paid-for plan, you get unlimited card spending in foreign currencies and either £500 or £1,500 of free ATM withdrawals per month.
As a current account provider, Monese makes security a priority. To register it requires your address, a passport photo and video identification.
Your account is protected by 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 in a segregated account that Monese can’t touch (even if it were to go bust), but it isn’t protected by the Financial Services Compensation Scheme.
In our independent 2022 Customer Satisfaction Awards, Monese came eighth with 4.5 out of 5 stars and 83% of users saying they would recommend the service. The brand’s well designed and user-friendly app, plus the overall experience, were favourites with customers.
Out of 5, the Monese app has a rating of 4.8 from over 58,000 reviews in the App Store. On Google Play, it has a score of 4.3 from more than 104,000 Android app users (January 2023).
On Trustpilot, Monese received an average mark of 4.0 out of 5, and a rating of Great, from over 32,000 reviews. Users praised the card, app functionality and customer service in general, although there were some criticisms of Monese’s complaints procedure.
Monese is great for travellers and works well if you are looking to set up an account quickly in another country. It allows some fee-free card payments and some fee-free ATM withdrawals abroad, something you can only dream of with a traditional bank.
However, it isn’t your only option. Competitors Monzo and Starling are similar but have a full banking licence and offer more features, including overdrafts.
Finally, if you regularly need to make international money transfers and hold multiple currencies, you should check out Revolut, which beats Monese by allowing you to hold and transfer around 30 different currencies for free. Get started by downloading the app.
The customer satisfaction score ("Customers say") is based on a survey of 2,944 customers carried out in December 2022.
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It’s not a safe account cause someone took money from my account 220£ if I didn’t Lock my card will take all my money and my card was it with me in my pocket I don’t know how they did it but this is not safe
Hi Mohamed,
Thank you for reaching out to finder.
It is best that you reach out to Monese’s fraud department for assistance as this may be an example of a cyber attack on your account. You may need their help in tracking as well as safeguarding your account immediately. Hope this helps!
Cheers,
Reggie
Hello together,
I want to share my experiences with Monese. But first I want to do some advertisment for myself. If you use my bonus code B5MP2AJP you will get 5 GBP for free (after signup).
I got to Monese because I was moving to the UK and had no bank account. As you might know when you foreigner, you will need to get a bank account to get a place to live. If you have no address you can not open a bank account. Thus I looked for an account where this is not the case. I stumbled over Monese and though that I want to give it a shot. The account creation process is really easy to do and a few days later I already received the bank card at my address in Germany.
After several months of using it I can say it is by far this most easy to use banking application I ever had. You have to be aware that there is some sort of 7000 GBP a day limit and a single transaction can not be higher than 4000 GBP but except for that it is a nice banking account.
Feel free to contact me if I you have any questions.
Cheers
Jan
I don’t know why my account with Monese was closed. It’s been almost 2 months now and my balance has not be received in the bank account I gave to them. Monese service is very bad and I am very disappointed.
Hello Olalekan,
Thank you for your comment.
I am sorry to hear about what happened to your Monese account. Upon checking, it was stated on their website that all Direct Debit transactions that were set up on the Monese Account will be rejected once your Monese UK Account is closed. Please contact Monese directly so they can check this for you.
If you have complaints, you can directly get in touch their complaints department.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
They closed the account with my money inside and 15 days after they still did not send me to my other account. They give me a lot of problems with this, logistics and economics. It’s a big fraud, attention please to everybody, don’t open an account with this bank.
Hi Francesco,
Thank you for your comment.
I am sorry to hear about how unfortunate your banking experience with Monese. If you have complaints, you can directly get in touch with the bank and be transferred to their complaints department.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
A really useful app and with low fees also! I used the code YN6PELE3 when registering to get a £10 bonus. The best part of a monese account is that you can solve any problem online :)