Monese
Monese is a British fintech company offering mobile-only current accounts, money transfers, and debit cards as an alternative to traditional banking, available across 31 countries in the EEA.
Account Types
Personal Plans
| Feature | Monese Classic | Monese Simple |
|---|---|---|
| Monthly Fee | Free | Free |
| Annual Fee | - | - |
| Minimum Balance | - | - |
| Fee Currency | GBP | GBP |
| Free ATM Withdrawals | - | - |
| Card Type | Standard PhysicalStandard Virtual | Standard PhysicalStandard Virtual |
| Billing Model | Subscription | Free |
| Free Tier | Available Included free with Monese Business account subscription | Available Free plan available with basic features |
| Description | Mid-tier personal account. Included free with a Monese Business account, or available standalone. Referenced as comparable to bunq Pro. | Free personal account tier for Monese. Referenced as the entry-level plan compared against Revolut Standard. |
Business Plans
| Feature | Monese Business |
|---|---|
| Monthly Fee | £9.95 |
| Annual Fee | - |
| Minimum Balance | - |
| Fee Currency | GBP |
| Free ATM Withdrawals | - |
| Card Type | Standard PhysicalStandard Virtual |
| Billing Model | Subscription |
| Free Tier | No |
| Description | Business account at £9.95/month. Includes a free Personal Classic account, contactless debit card, 6 free ATM withdrawals/month, and foreign currency transfers. |
Visit the provider website for detailed plan comparisons and features
Business Features
Monese Business offers a contactless Mastercard debit card (prepaid) included free with the business account, with a free first-time replacement. The card supports international in-store, online, and ATM spending worldwide with no hidden fees; foreign currency card spending incurs a 0.5% fee per transaction. ATM withdrawals: 6 free per month, £1 per withdrawal after. Card can be locked/unlocked via the app for security. Pricing is £9.95/month for the business account. Foreign currency transfers are free and instant between Monese accounts; sending to non-Monese accounts incurs from 0.5% fee with a £2 minimum. Cash top-ups available at Post Office (£1 each) and PayPoint (2.5%, minimum £1). Local UK transfers are free via Faster Payments. Direct debits and recurring payments are supported (scheduled_payments set to true). Up to 10 savings pots available. Multilingual support in 14 languages. Account opening requires sole director of a UK registered business. No evidence found for: multi-user/team access, API or developer tools, bulk/batch payments, expense management, receipt scanning, accounting software integrations (Xero, QuickBooks, Sage, etc.), invoicing, payment gateway, or approval workflows.
Fees & Limits
| Route | Fee Structure | Min/Max |
|---|---|---|
| Internal | Free(instant) | No limit Foreign currency transfers FREE and instant between Monese accounts. |
| Other | 0.01%(N/A) | Min £2.00 Foreign currency transfers to non-Monese accounts. From 0.5% fee, £2 minimum fee. |
| Faster Payments (GBP) | Free(instant) | No limit Local transfers to other UK accounts via the Faster Payments network are free. |
| Faster Payments (GBP) | Free(instant) | No limit Local transfers received from other UK accounts via the Faster Payments network are free. |
| Not Available | Free(N/A) | No limit No transfer fee data available for Monese Classic from the fetched page content. The Classic personal account is bundled free with the Business account but its own transfer fees are not listed on this business pricing page. |
| Fee | Details | Amount |
|---|---|---|
| Account Fees | ||
| Monthly Account Fee | -Monthly | £9.95 |
| Transfer Fees | ||
| Outbound Foreign Currency Transfer Monese Fee | -Per transaction | Free |
| Outbound Foreign Currency Transfer Non Monese Fee | -Per transaction | £2.00 + 0.01% |
| Local Faster Payment Transfer Fee | -Per transaction | Free |
| Card Fees | ||
| Contactless Debit Card Issuance Fee | -One-time | Free |
| Card Replacement Fee First | -One-time | Free |
| Atm Withdrawal Fee Within Allowance | -Per transaction | Free |
| Atm Withdrawal Fee Excess | -Per transaction | £1.00 |
| Other Fees | ||
| Foreign Currency Card Spending Fee | -Per transaction | 0.01% |
| Other Fees | ||
| Cash Top Up Post Office Fee | -Per transaction | £1.00 |
| Cash Top Up Paypoint Fee | -Per transaction | 0.03% |
Cards
Security & Compliance
Regulation
- Financial Conduct Authority (FCA)License: 0010X00004QChyhQAD. Licensed in United Kingdom. Safeguarding: segregated_accounts.
- Compliance CertificationsPCI DSS
App Security
- Instant FreezeFreeze and unfreeze your card instantly from the app if lost or stolen.
- Two-Factor AuthenticationSMS OTP, Face ID, Touch ID, Fingerprint Scanner, multi-factor authentication
Monese employs multi-factor encryption and authentication protocols, biometric login (Face ID, Touch ID, Fingerprint Scanner), and 3D Secure for online card transactions with SMS one-time passwords. Single-device access policy restricts simultaneous logins. Funds are safeguarded per EMI regulations. Apple Pay (Touch ID/Face ID) and Google Pay (encryption and multilayered security) are supported. 24/7 infrastructure monitoring is in place. Identity verification uses government-issued photo ID and video selfie to prevent identity fraud. In-app virtual card provides a unique card number separate from the physical card. Monese is a CIFAS member, participating in the UK's fraud prevention network. Participates in the Take Five national fraud awareness campaign. No explicit mention of AES-256, TLS version, GDPR statement, bug bounty, or penetration testing in the available page content.
Support & Platforms
Available Platforms
Eligibility
Residents Can Open Account (12)
Supported Currencies
Local Account Details3 accounts
GBP account was one of the three original currencies supported by Monese. Accounts are issued with a unique IBAN per customer, confirmed via Currencycloud partnership announcement. No minimum deposit required to open.
EUR was one of the three original currencies supported. Via Currencycloud partnership, each IBAN is unique to the customer (dedicated), making payments easier to track and simplifying reconciliation. Available to customers across 31 EEA countries.
Romanian Leu was one of the three original currencies supported before the Currencycloud expansion. Unique IBAN per customer. Monese has significant customer base in Romania.