Monese Review: The Best Alternative To Traditional Banks?

Welcome to the Monese review. Monese is not a bank. It’s an application that transforms your mobile to a digital bank. No more tokens and long queues. Hassle-free transactions with convenience are now in your palms. Get your account verified within 5 minutes. Open an account using your mobile and experience the new feel from the first transaction onwards.  Become an overall satisfied user of Monese.

Monese Review: Pros, Cons and Best Benefits 

With the help of Monese app, one can open a bank account is just a few simple steps. It even allows people to open a current account and it just doesn’t matter whether they have a permanent address, utility bills, credit history, or any other document.

All this really changed the entire banking system and this new concept was really appreciated by people. This is why today Monese has more than 1 million users and more than 3000 people are joining Monese every single day. But, does it have any cons? This Monese review will tell you the truth!

What is Monese?

Monese is a financial service company that is operating in United Kingdom since 2015. Monese is among the first mobile app-based banking service which provides all the services of standard banking. This financial company was founded by Norris Koppel. Norris got the idea of opening an online banking company because he was unable to apply for a bank account in the UK due to having no utility bills or credit history as he was originally from Estonia.

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Name Monese
Launch Year 2015
Founder Norris Koppel
Physical Offices London, Tallinn, Lisbon and Berlin.
Customer Support Yes, 24×7 Human Support
Languages 14 Languages (English, French, German, Brazilian Portuguese, European Portuguese, Bulgarian, Italian, Spanish, Romanian, Polish, Czech, Turkish, Estonian and Lithuanian)
Supporting Countries All over Europe
FCA Regulation Yes, FCA Regulated


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Monese is a completely digital service and this allows everyone to access it. According to Monese real user reviews, A Monese account is portable across 20 countries in Europe.

To open a Monese account all you need is a passport photograph and a national identity card or your passport. No other document is required and one can open their account is just a few minutes. You can use your debit card or can transfer money to your Monese account from other bank accounts. If you don’t have any other bank account you can add funds to your account using Paypoint or other locations like post offices etc. There are more than 40000 such locations in Europe from where you can add money to your Monese account or prepaid debit card.

How does Monese Work?

Monese is a financial service that provides anyone living in the UK with instant current accounts via mobile app regardless of a residential address or credit history. Opening an account with Monese is as easy as pie.

You never have to visit a Bank or provide any hard copies of ID proofs or other documents as you do with traditional banks. Your address is never a problem with Monese. No matter what your current credit score is. A fixed income is what required. Monese provides you with a master debit card for enabling worldwide payments.

Creating a Monese account takes less than 5 minutes and it provides its customers with a digital MasterCard for online payments. We have checked many Monese reviews to find the reality behind this claim and we couldn’t find anything negative.

When talking about Monese services, everything is fast and smooth from opening an account to processing payments and transfers. One can deposit funds in their Monese accounts using debits card or can make use of Pay points to deposit cash directly to their account.

There are no branches of Monese bank, as it is completely digital and App-based service. One can avail all its services with the help of Monese Mobile App.

Monese Operational Status

We check every feature of Monese and its operational status every day and update it below. Here is the current status of Monese services.

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Service Status
New Account Opening Via Monese App Operational
Card Transactions Operational
Payment (Local & International) Operational
App Functionality (iOS & Android) Functional
Physical Cash Deposit (Cash Deposit Partner Network) Operational
Phone & Live Chat Support Functional
ATM Services Operational


Why is Monese different from a usual bank?

Monese accounts have no processing charges, no hidden charges and provide you with an account within the UK. Unlike traditional banks, Monese never makes a profit by means of reinvesting customers’ money or by charging unreasonably high fees for overseas card usage. Moreover, you will never be levied a penalty or charged excessively for missed direct debits on overdrafts, loans, etc. You can check your accounts which are limitless and free of charge.

Residential proof of address is not mandatory if you need to open a Monese account. One can instantly join Monese by downloading the app and by simply following the step by step instructions.  During the process, you may have to upload an ID proof (preferably a passport or a valid identity card) and use your mobile camera and upload your picture. Nationality never matters.

Main Features of Monese

Some of the main features of Monese which make it better than other online banking services are;

  • The service is available in 14 different languages. You can change the app language at any point of
  • Available in 20 European countries and the service is easily portable.
  • Monese bank moves along with you.
  • Faster payment. It just takes 2 to 3 hours for the payment and transfers to be processed.
  • No proof of address is required for opening account
  • One can open his account just by using his passport or national identity card.
  • International transfer at an affordable price. Transfer to other countries without paying any interbank or processing fees.
  • It integrates with Google Pay and Apple Pay which means you can pay using Monese funds from these apps.
  • Make payments to your friends and family or to anyone from your contacts list.
  • Everyone gets a Monese MasterCard free of cost on the opening accounts.
  • Account opening takes less than 5 minutes.
  • Services available 24 x 7. For the purpose of this Monese review, we have tested their customer support and their feedback was pretty good.
  • Customers support team to solve all your issues and queries.
  • Simple, convenient, fast and smart banking.

Accounts offered by Monese

Monese accounts are just perfect options for Global Citizens, international students, freelancers, etc. A Monese account is completely digital and fully manageable with your smartphone. There are mainly two types of accounts offered by Monese and you can go for the one you want.

Personal Account

A mobile bank account within fingertips is a boon for a person living in the UK legally. Expatriates, Students, Businessmen, freelancers, project workers, etc. can avail of this feature.  Sending money, managing money and securing money is no more a hurdle. You can open an account within minutes from any place. Also, keep track of your spending statistics, targets and saving plans.

⇒Features of Personal Account

  • Open an account in a few minutes
  • Instant transfer between Monese app users
  • Exportable payment statements
  • Google and Apple Pay support
  • Recurring payments
  • Send money to more than 30 countries in different currencies at a very reasonable transfer fee
  • Saving Plans and Spending statistics
  • 24 x 7 customer support
  • Accessible in 12 different languages

Business account

The UK based businessman can have the facility to open a current mobile bank account in minutes. The account takes just a couple of hours to be fully functional. The accounts are available in 10 languages.

⇒Features of Business account

  • Open account in just a few steps
  • No address proof is required
  • Get a fully functional account in a few hours
  • Completely free domestic payments
  • No hidden fees
  • Very low international transfer fee
  • Cash deposits using Pay points

Monese Debit card

Monese provides its users with a contactless debit card for extra convenience. Term contactless we mean you need not enter your pin for payments of less than 30 Euros. This saves you from carrying change for small transactions.

Monese Debit Card


Monese Debit card works like any other debit card. You can use it for making payments, withdrawing money from any ATM. The card provided by Monese is accepted across a number of countries around the world and at all the major online retailers.

One great thing about Monese debit card is that it works like a prepaid card. This means you can set a monthly budget and the card will stop you from overspending your money. This is a great feature as it helps you in the long run.

Monese offers 6 times free cash withdrawals per month. You can use this card up to 6 times for withdrawing money from ATM’s. After 6 free transactions, you are charged with a small fee.

Monese App & Its Features

Monese has a high performing application using which customers can access all kinds of banking services. This fully-featured app lets people open a bank account in just a few minutes. They can transfer money, request a new debit card, check balance, change the account type, manage debits, contact customer support, etc. all using a single mobile app. Monese mobile app also integrates with the very popular PayPal and you can use your Monese app to check PayPal balance and much more.

Monese App iOS and Android

The app is divided into different sections that focus on different aspects of your bank account.

  1. My plan- Monese offers three different plans. The basic one is absolutely free while the other two are paid one and you need to pay a monthly fee. From this tab, you can decide whether you need to subscribe to a paid plan or not.
  2. Direct Debits- This tab allows you to manage all your debts.
  3. Support- You can contact Monese support team at any time using if you facing any difficulties. The customer service and support are available in many different languages which include English, German, French, Spanish, etc.
  4. Invite and earn- Using this tab you can earn free cash by inviting your friend to Monese.
  5. Debit Card- Manage your online debit card easily using this tab.
  6. Money Transfer- Money can be transferred to over 30 countries around the world and there are no hidden fees.
  7. Currency exchange- Currency Exchange service is also available at a very reasonable exchange fee. For base or simple plan, you will be charged 2% for currency exchange. If you have an active classic plan the exchange cost reduces to 0.5 perfect. For premium plan users there is no currency exchange cost or limit.

How to start an account?

Starting an account on Monese is very simple. Monese gives the freedom to global citizens who do not have any permanent address in the UK to open a bank account. To open a Monese account all you need is a national identity card or passport. Here is how you can start an account on Monese in just a few minutes.

  1. First of all, Go and download Monese App from the Play Store or App Store.
  2. Open the app and tap on the link that says create a new account.
  3. Now follow the on-screen instructions to create your free account on Monese.
  4. Once your account is opened, you can now choose the plan you want. By default Simple plan is active but you can switch to Classic or Premium plan anytime as per your requirements or convenience.

Is Monese safe?

Well, the very simple answer to this question is “Yes”.

Monese is 100% safe and trusted banking service provider and all your funds and personal information are in safe hands with Monese. The company has a customer base of more than 1 million customers and the number is increasing every single day. This well-known banking service provider in the UK is regulated by the Financial Conduct Authority.

They make sure everything is running on the track. Monese uses the most advanced and high tech security measures to save its customers from any kind of fraud. They have developed some of the most advanced and breakthrough processes to prevent unauthorized access to their database.

Monese accounts can only be accessed by one mobile device at a time. This saves the users from hackers or anyone else from getting control of a Monese account. The app and transaction need to verify by customers before they can access the app or transfer funds from one account to another. Biometric verifications can also be enabled by customers. Monese is also a member of CIFAS, the company work with other banks and fights against online scams and frauds.

In addition to that, they have a trust score of 8.9. All these pieces of evidence are enough to prove that Monese is 100% safe and secure. Your money and important info are in safe hands with Monese.

Pros & Cons of Monese

I have mentioned the Pros and cons of using Monese below;


  1. Open both personal and business account in just a few minutes
  2. Get a fully functional account in a few hours
  3. UK based bank account without having the need to present local address proof
  4. Available in more than 10 languages
  5. Instant and free domestic money transfer
  6. Low currency exchange rate
  7. International transfer at a very competitive cost
  8. Contactless debit card with free 6 monthly cash withdrawals
  9. Integrates with PayPal, Google Pay and Apple Pay for instant payment using the Monese app or vice versa.
  10. Safe and secure


  1. Only available online no physical branches
  2. International transfers can only be done in the destination currencies

 The 3 Monese Plans

Monese offers personal account plans of 3 kinds.  Simple Account, Classic Account and Premium Account.

1. Simple

It can be subscribed free of cost and has a currency transfer service fee of 2%.

What will you get with Simple Plan?

  • Free Contactless Debit card
  • ATM and cash top-ups of up to 200 Euros for free
  • Free domestic money transfer to other Monese accounts
  • Foreign currency card spending of 2000 Euros for free

2. Classic

Costs €4.95 per month and a transfer fee of 0.5%.

What will you get with the Classic Plan?

  • Free Contactless Debit card
  • ATM and cash top-ups of up to 800 Euros for free
  • Free domestic money transfer to other Monese accounts
  • Foreign currency card spending of 8000 Euros for free

3. Premium

It is a feature-loaded plan and it offers unlimited currency exchange for free. Charges are €14.95 per month and currency transfer is absolutely free.

What will you get with Premium Plan?

  • Free Contactless Debit card.
  • ATM and cash top-ups without any limits.
  • Free domestic money transfer to other Monese accounts.
  • Unlimited foreign currency card spending for free.
Monese Reviews By Reddit
Monese reviews got 4.4 rating on Trustpilot.

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Monese is a perfect banking solution for those people who are not permanent resident of UK. It is the best option for global citizens and international students because you need not to present any address proof or credit history in order to open a bank account with Monese.

For a nominal fee, you are all set to enjoy the features of the Monese business account plus a personal account. The Monese app bridges these two accounts for your convenience and safety. You can separate your personal life and business life with Monese. The personal spends can be managed wisely and you can set the budget limits. Moreover, both cards can be managed from one place.

As I already mentioned in this Monese review, It is safe and secure in every aspect. Both your funds and personal information is safe with Monese as the company makes use of the best security measures and breakthrough mechanisms. It is a certified company with millions of users and you can easily trust it for all your banking needs.


  • How do I deposit funds to my Monese Account?

There are many ways to transfer funds to your Monese account

1. Bank transfer

You can easily transfer money from any other bank account to your Monese account. For this, you need your Monese bank account number and special sort code. You can find these two in Monese app.

2. Instant Top-up

You can use the Instant Debit card Top-up feature to transfer funds instantly. Just go to the app and tap on Instant Top Up option, now fill in your card details and amount to add money.

3. Cash Top Up

There are more than 40000 Pay points in the UK from where you can deposit cash to your Monese account. Just go to the Paypoint and give them your Monese Debit card and the cash you want to deposit. You can deposit up to 200 Euros for free if you are using the free plan. There is no deposit limit for Premium plan holders.

  • Does Monese support cheque?

No Monese do not deal with cheques. They do not allow you to cash cheques.

  • How can I upgrade my account?

Upgrading your account is very easy. Just go to the app and then tap on My Plan. Now choose the plan you want and make the payment.

  • What is the withdrawing limit of debit cards?

Monese offers six free cash withdrawals in a month after that, you need to pay a small fee for withdrawals. The daily withdrawal limit is 300 Euros.

  • Can I transfer money from my Monese account to my PayPal Account?

No, you cannot do that.

  • What’s the maximum amount my Monese account can hold?

Your Monese account can hold a maximum amount of 40000 Euros.

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