Monese is a UK-based mobile banking and financial services company that was founded in 2013 by Norris Koppel. It offers a mobile app that allows users to open and manage current accounts, make transactions, and access various financial services without the need for a traditional brick-and-mortar bank. Monese is particularly popular among expats, immigrants, and those with limited access to conventional banking services, as it does not require a local address or credit history to open an account.

Monese provides a range of services, including:

1. Current accounts: Users can open and manage GBP and EUR accounts, with unique account numbers and sort codes or IBANs.
2. Money transfers: Monese allows for domestic and international money transfers, often at competitive exchange rates and low fees.
3. Debit cards: Monese offers contactless Mastercard debit cards that can be used for ATM withdrawals, in-store purchases, and online shopping.
4. Budgeting tools: The app includes features that help users track their spending, set budgets, and manage their finances more effectively.
5. Savings and deposits: Monese offers a range of savings options, including savings pots, which allow users to set aside money for specific goals.

Monese operates in multiple countries and supports various languages, making it a convenient banking option for people who travel frequently or live in multiple countries. It should be noted that while Monese offers many banking services, it is not a traditional bank and does not have a banking license. Instead, it operates as an Electronic Money Institution (EMI) and is regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

24/7 availability- anytime, anywhere

No matter where you are, at home or abroad, you can access your Monese account via the app, check your account balance, control your savings, get customer support, make payments and even freeze your debit card if needed. In addition, get real-time notifications every time you make a transaction, so there won’t be any surprises at the end of the month. No need to make appointments, stand in line and lose working hours to manage your finances.

Get approved fast

Opening an account with Monese is simple, with no lengthy paperwork. Just download the app, prove your identity, top up your account and you’re ready to go. Monese doesn’t require a copy of your credit history to approve your account, meaning you can open an account and get approved in minutes.

Lower fees

Another main reason to use Monese is the low (or no!) fees. Monese has no physical branches, therefore they can offer lower fees than traditional banks – especially when it comes to ATM withdrawals, money exchange/transfer and payments abroad. For example, Monese offers zero fees on all transactions, including purchases made overseas!

Makes traveling easier

Monese = borderless banking. Low/no exchange rates and low/no ATM withdrawal fees worldwide make traveling a whole lot easier (and cheaper) than with traditional banks- especially in the eurozone. And for added safety, freeze or unfreeze your debit card while you travel, directly in the app.

Go paperless

One of the frustrating things about traditional banks is the amount of documents, contracts and letters that are sent to your mailbox. With Monese everything you need is in the app and all communications are sent to your app or your email. Gone are the days of rummaging through piles of paper around your house – and protecting the environment is the cherry on top.

Monese is currently available for residents of the following countries: Belgium United Kingdom France Germany Netherlands Spain Austria Cyprus Estonia Finland Greece Ireland Italy Latvia Lithuania Luxembourg Malta Portugal Slovakia Slovenia