Monese Reviews

Monese is a mobile-first bank based in London, UK, offering a modern alternative to traditional banking. It was founded in 2015 with the goal of making it easier to manage personal finances when relocating to the United Kingdom. Monese has over 2 million users across Europe and caters to both individuals and business customers.

Key features and benefits of Monese include:

• Easy account opening: Quick, secure, and hassle-free sign-up process requiring only an ID.
• Contactless Mastercard debit card: Can be used in-store, online, or at ATMs worldwide.
• Fast money transfers: Free to move money between Monese accounts, no matter the currency. Also supports fast SEPA payments.
• International transfers: Make transfers abroad at great exchange rates, quickly and securely.
• Budgeting tools: Features like the Spending Overview tool, monthly and weekly budgeting, and instant notifications whenever you spend.
• Savings pots: Create up to 10 different pots to help reach savings goals faster.
• State-of-the-art protection: Uses breakthrough technology to keep data, money, and account secure.
• Apple Pay: Add Monese card to Apple Pay for easier, faster, more secure payments.
• Multiple currencies: Open online money accounts in multiple currencies to spend abroad like a local.

Monese offers three plans for personal banking: a basic but free "Monese Simple" subscription, a solid "Monese Classic" mid-tier offering, or an all-in "Monese Premium" plan. The bank does not require a credit check for account setup, making it a user-friendly digital banking service. Its transparent fee structure, multiple account currencies, and mobile app functionality make it a great option for those who prioritize ease of use and flexibility.

Monese offers three different pricing plans:

1. Simple: This plan is free and offers an instant account in GBP, EUR, and RON. It's great for spending, travelling, and sending money abroad. International transfers from your Monese account are subject to a 2% fee, with an additional 1% fee on weekends. Local transfers in and out of your Monese account in your local currency are free for inbound and £1 per transfer for outbound.

2. Classic: This plan costs £7.95/month and is perfect for everyday spending. It offers lower fees and higher allowances than the Simple plan. International transfers from your Monese account start from a 0.5% fee.

3. Premium: This plan costs £14.95/month and offers the most comprehensive benefits, with the lowest fees and VIP Customer Support. International transfers from your Monese account are free (subject to currency exchange fee).

All plans offer free and instant Monese to Monese transfers, free local transfers in and out, and free direct debits. They also offer a Credit Builder service to build your credit history and improve your rating for a £2.50 monthly fee (Rep. APR 9.10%).

For card services, the first card delivery costs £4.95 for the Simple and Classic plans but is free for the Premium plan. Card spending in foreign currencies is 2% per transaction for the Simple plan, 0.5% per transaction for the Classic plan, and free for the Premium plan. Debit card top-ups are 1% per top-up for the Simple plan and free for the Classic and Premium plans.

Cash services include ATM withdrawals and cash top-ups. For the Simple plan, ATM withdrawals are 2% per withdrawal, and cash top-ups are subject to a 3.5% fee. For the Classic plan, the first £500 of ATM withdrawals and the first £400 of cash top-ups each month are free. For the Premium plan, the first £1,500 of ATM withdrawals and the first £1,000 of cash top-ups each month are free.

Please note that these details are subject to change and it's always a good idea to check the latest information on the Monese website.

Monese offers various payment methods:

• Google Pay: Monese supports Google Pay, which is a quick and easy way to pay on the web, in-store, or in apps. It provides encrypted security by Google. To set up Google Pay with Monese, add the Monese card to Google Pay in seconds.

• Transfers: Monese allows for transfers on the go with quick and easy mobile payments. Users can send and receive money through the UK Faster Payments network instantly, with no fees. Money can be sent to other Monese accounts instantly and for free, no matter the currency.

• Card Payments: Monese supports card payments. Users can add their Monese card to Google Pay and make fast, card-free payments anywhere contactless payments are accepted.

Please note that these details are subject to change and it's always a good idea to check the latest information on the Monese website.