Having some issues with opening a bank account can lead to a brilliant idea. With many people in the UK having the same problem, the founder of Monese started something phenomenal. With Monese, you can now open a bank account in the UK in several simple steps, no hassles or any issues whatsoever.

Opening an account is as easy as ordering an Uber to pick you up.


As we mentioned above, Monese was created from having personal issues with the banking system in the UK. Norris Koppel couldn’t open an account in the UK because he was not having any UK credit history or utility bills. So, he started Monese instead. 

Monese Founder – Norris Koppel

Having personal frustrations with the UK bureaucracy, Norris had no idea that he would start a global company. This service is now used by millions of people with the same issues. Many of them open accounts because of the great things said about the company. We will discuss these in this honest Monese Review below.

Monese is a digital bank offering services in the banking sector. It was the first digital bank opened in 2013, and it’s rated as one of the most established ones. The company was founded in the UK and offered the first 100% mobile accounts.

Monese employs 370 people and is considered an established brand in Europe. As of January 2020, 2 million users are using their services. Currently, they are also offering EUR account openings. Plus, the team behind Monese does everything in its power to provide new services as often as possible.

Do you live in the UK or the Eurozone and want to have easy access to a current account? If so, Monese is the right choice for you. These banking services are offered in many other currencies besides the GBP, as well.

What’s excellent about Monese is that you can set up an account quickly. You don’t need a utility bill, proof of address, or a UK credit history. Whenever a bank rejects you, Monese is here to provide you with what you need. More importantly, their services come at reasonable costs.

Well, let’s begin!

Getting Started and Opening an Account with Monese

Opening an account is very easy and straightforward. All you have to do is download the application through the app store. Alternatively, find it on their website. 

It’s so easy to open the account since they don’t have any branches. Everything can be done online. As we said, download the app on your smartphone and follow the step-by-step instructions there.

First, you need to enter a valid email address, where do you live (the country you are in), and an invitation code (this is optional). Then, you need to create a passcode for security issues. Next, add your mobile number, choose your account type (UK or Eurozone), and add your residential info.

Monese Review

Your residential info is needed for Monese to send you your debit card. Once you are done with your personal information, just take a selfie or send a picture of your passport or ID. This is needed for Monese to verify your identity.

Finally, you need to choose your account level. One is free, and the others are paid. We will talk about the account levels and what they are offering in the next section. Once you choose the level of your account, you are all set to go. You will receive your debit card in your mailbox in the next three to five days. The shipping period is up to 14 days if you live outside the UK.

Account Levels

[table id=9 /]

When you are making your account, the usual question arises, “Which plan to select?”.

Well, it all depends on the account level you want to have. If you prefer a free account, it’s excellent that you can just sign up, and that’s it. If you want something advanced, however, there are two options: £5.95 per month and £14.95 per month.

Each premium plan comes with different benefits that we will discuss next in the section. The benefits are considerable, and we recommend you check which ones fit best for you.

As we mentioned, there are three account levels on Monese. One of them is free, and the other two are premium. There is, additionally, a business account option for anyone that needs it. The business package is paid and costs £9.95 per month.

Monese Basic Account

The basic account has some pretty nifty stuff for being just that a basic account. It offers a contactless debit card and £200 free monthly ATM withdrawals. Once that amount is surpassed, there’s a flat fee of 2%. 

It also offers foreign currency transfers with zero fees when you are transferring it to other Monese accounts. The money will be in your account instantly. There is a fee of 2% when you send money to non-Monese accounts. The minimum amount you can transfer is £2. You are getting a dual currency account as well.

Customer support is included even on the basic account. You can use Apple Pay and Google Pay to pay for your transactions. There is no free manual cash top-up. The fees are 2% fee at a Post Office, and 3.5% at a Paypoint.

You can spend up to £2000 abroad. Afterwards, there is a flat fee of 2%.

The only drawback of the basic account is that you will have to pay £4.95 for the card delivery.

Monese Simple

Monese Simple account is actually the same as the basic account. It’s just has a different name. So, don’t be confused if you find both these terms on their website. What you get is the same, and both accounts are charge-free.

Monese Classic

The Monese classic account is an upgrade of the simple account. But to have this account, there is a monthly fee of £5.95. There is no fee to get your card to your doorstep. It will be delivered free of charge. So, one month comes basically free here as the card delivery costs £4.95 for basic members.

You are getting the same benefits, with additional bonuses. The customer support and Apple and Google Pay are there, as well. The cash withdrawal is with a larger amount of £800 per month, no extra charges. For withdrawals over that month, the same 2% fee applies. 

As for manual cash top-ups, there is an £800 fee-free upload per month. The fee after that amount is surpassed is the same as the basic account, i.e., 2%. 

While being abroad, you can spend up to £8,000 charge-free, and over that amount, there’s a 2% fee. The main benefit of using Monese Classic is sending money to other Monese accounts for free. When using it to transfer funds to other non-Monese users, there’s a 0.5% fee and a £2 minimum transfer amount.

Monese Premium

For the price of £14.95 monthly, you can get the Premium account of Monese. What you get is the free delivery of your debit card. When it comes to customer support, Google and Apple pay And, you the same perks as Classic users.

The best part of the Premium version is that you get unlimited cash withdrawals. An infinite sum of top-ups is included, too. That means you can top-up your account as much as possible, no hidden fee. Members also get to spend unlimited amounts of cash abroad with zero fees. They can even transfer money without any costs, even to non-Monese users.

The only drawback here is the price. However, for frequent users, this account makes the most sense. Otherwise, they will end up paying the same amount on transaction fees, while losing the other Premium perks.

Monese Business

For the price of £9.95, you can open an account for your business without the lengthy bank procedures. Benefit from free local payments and low-priced international transfers. You will also be given a contactless card to use it at any time. Business members can deposit money on their accounts at over 40,000 locations in the UK.

[table id=10 /]

Monese Banking on Mobile Devices

Monese offers the same benefits that you can have from a bank through your mobile app. It’s available on Android and iOS as well. The best part is you can do anything through your mobile application.

The app is simple to use, and the UI is simple to navigate. It’s possible to open an account via the app, track the transactions you’ve made, and make the transactions, as well. Any time there is a change in the account, Monese will notify you. 

Just don’t forget to update the app regularly. That way, you won’t miss any of the latest features from the service.

Monese supports mobile payments

Banking Features

The offered banking features depend on the account you have. First things first, you get a debit card you can use anywhere where MasterCard. You can top-up your account, depending on the account. The Premium account has no limit associated with it. 

You can send money abroad as well without any limit if you are a Premium account owner. Fast transactions are possible with Monese, too. You get up to six free ATM withdrawals every month, depending on your account. 

If your card gets stolen or if you somehow lose it, it’s possible to lock it immediately. All of this can be done through the mobile app. Since the card that you are getting is contactless, you can use it without a pin on transactions up to £30.

Monese Cards

There are three types of Monese cards. Two are for personal accounts, and one is for business accounts.

The UK version of the cards comes in fresh mint-green, and the European version comes in a glacial-blue color. The business cards are all sleek in black. All of them are contactless debit cards. The cards are coming with a contactless max payment of up to £30.

Monese Cards
Monese Cards

Drawbacks of Monese

Monese doesn’t offer as many benefits as their competitors do when it comes to paid accounts. Even though the Premium account offers unlimited transactions and top-ups, it’s not enough.

Also, the free account is not offering many benefits, and some people might opt for another option. To gain the full benefits, you will have to go for the Premium account. It’s excellent that paid customers get a lot of benefits, but as we mentioned, this is not enough. Compared to banks, you get more for your money. Yet, some users may expect more.

Another drawback is their support. Many people online are saying that their customer care is not as amazing as it sounds. People are waiting quite a long time for someone to fix their problem and issue.

Finally, let’s not forget about the car delivery fee. If you are a basic user, you will also have to pay for your card delivery, and that’s unacceptable for some consumers.

Bottom Line

If you want easy access to UK banking without the vast bureaucracy of the banking systems, Monese is your best bet. This product exists precisely for that reason – to save consumers precious time dealing with annoying bank clerks. 

With Monese, you can get many benefits. All of them are discussed in this honest Monese Review, and we believe that this is an excellent service. No more waiting in line or waiting for months to get your business started. All you have to do is just download the app, and you are all set up.

Before signing up for Monese, however, we advise you to check the fees and perks carefully. Some drawbacks that didn’t seem too serious to us may be a deal-breaker for you. Everything depends on your personal needs and expectations.