You can add your debit card and your virtual card to your mobile wallet. This way it can be recognized at any time whether there is a technical problem somewhere at Monese namely that the customer service has to be contacted. A drop of bitterness? This allows us to match our users with the right providers to suit their needs and, in doing so, match our providers with new customers, creating a win-win for everybody involved. For the classic account, the annual fee is 49.95, which is around 4.16 a month. A tip: If the process does not progress for a long time, a short logout from the app with subsequent login is often helpful. They get 0.5 % of the currency exchange fee; 14 .95 per month with no currency fee What's special: Transfers between Monese accounts are free! Duly authorised and regulated by the FCA in the United Kingdom, as well as by the relevant authorities in all the countries in which it operates. If you would like to find out more about which Monese entity you receive services from, or if you have any other questions, please see the Terms or contact us via the in-app chat in the Monese app. For this reason, everything we do for you is free. Monese is available in the following countries: Yes, you can link your PayPal account directly to Monese and vice versa. No free amount, with all cash withdrawals costing 1.5/1.5 /L5 per transaction. See the terms and conditions here. Last updated: 30/09/2021* Available in the UK and EU (except Poland, France, and the Netherlands). By simply downloading the Monese App, the entire account opening process can be carried out online and no on-site visit to a bank branch is required. Our recommendations are always unbiased and independent. See below: Currency exchange fees for international incoming tranfers: Purchases with Monese Card (Online and POS) in card currency: Foreign currency spend allowance (Monese Card only): Purchases with Monese Card (Online and POS) in foreign currency if in Pounds sterling, Euro, Romanian lei and Swedish krona: Purchases with Monese Card (Online and POS) in foreign currency other than Pounds sterling, Euro, Romanian lei and Swedish krona: Fee applicable Once Foreign Currency Spend Allowance is exceeded: Cashback cash withdrawal in store (available for Monese GBP Account only): Fee applicable once ATM & top-up allowance detailed above is exceeded: First physical Monese Card with your Monese GBP Account or Monese EUR. For just under a fiver a month, you'll get increased spending and withdrawal limits across all categories: Free overseas card payments up to 9,000 a month - 2% fee above this limit. Free ATM withdrawals or cash top-ups of up to /500 a month, then a 2.00% fee after that; Free foreign currency spending on your card is free; Free foreign currency transfers to other Monese accounts, but a fee starts at0.50% when sending to non-Monese accounts. From our side a very solid offer, which can also be upgraded or downgraded monthly. Within those 11 minutes, we installed the app, got identified with a passport, answered a few questions about ourselves, and selected our account model. By the way: The card was in our mailbox after 5 working days! That's it! See the full T&Cs here. MONESE ACCOUNT LIMITS IF YOU CHOOSE TO OPEN A MONESE EUR ACCOUNT. The app allows a simple overview at any time over those pods, which is really super helpful for serious saving intentions you always see where you stand at a glance. payment into you Monese account (using your Monese account details). Another nifty safely feature that Monese offers to UK users on its 'Premium', 'Classic', and 'Essential' plans (more about these later) comes in the form of bill and purchase protection for purchases made through the Monese account. Maybe Its your first time in Europe and you have only taken with you a small amount of money. ATM) and 15 after spending 500*. Adding cash via PayPoint: 249 per transaction, 2,500 per week and 5,000 per month. In the EU, you can top up with cash throughSOFORTor Paysafecash, depending on the country. No, Monese does not work with SCHUFA. Legally, Monese is an e-money institution ("E-Money Institute") and works with Belgian provider PPS EU S.A. (PrePay Solutions S.A.), which supplies the Belgian IBAN and has licenses for the UK. * The 'Essential' plan is only available in the UK. Monese also integrates with your phones mobile wallet so that you can make payments directly from your Monese account through Apple Pay or Google Pay. Monese is a member of CIFAS and works with major banking services to fight against fraud. Then the desired language is selected; the application is available in German. This app offers several key features to users: The Monese app is available in English, French, German, Portuguese, Brazilian Portuguese, Bulgarian, Italian, Spanish, Romanian, Polish, Czech, Turkish, Lithuanian and Estonian. This service is optional but has fees based on plans. However, Monese is a valid option for users across all Europe and beyond. We only recommend what we'd recommend to our friends and families too. By signing up to a Premium account, you will receive 5 free deposits a month! For UK customers the Monese contactless debit card is issued by PrePay Technologies Limited pursuant to a licence by Mastercard International. Your Premium account will instead sink to 10,41 Euro per month. It only took us a total of 11 minutes for us to be able to use the account and deposit money into it. Monese offers you an international bank account with a virtual Mastercard card. Couples can have a joint account, to which everyone receives a bank card. What are Monese's fees and exchange rates? You can find the bank code when you click on "Details" in your Monese app in the account on the home page, directly under your account balance. Weve set out the fees for your Monese Account below, which detail the core services of normal use of your Monese Account. This information will also be displayed in your Monese App. For most EU citizens, the former might be the answer. The card is accepted in over 200 countries worldwide by merchants that take Mastercard and is compatible with Apple Pay and Google Pay (only in the UK). The FinTech was founded in 2014 and, according to its own account, launched the first 100 percent mobile checking account in 2015. Then the monthly cost come down to 10.41 only (124.95 for the year). Cash withdrawals at ATMs cost 2% each, but the first 200 per month are free. Monese has started to partner with Paysafecash since autumn 2020. This information will also be displayed in your Monese App. Due to the large growth, another 80 million in investor funding was raised most recently at the end of 2021 to allow the fintech to grow further. Cash deposits; Post Office cash load (available for Monese GBP Account only): 2% (minimum 2) All you need are your passport and money for the initial deposit. A fee of 2.0 percent (min. A fee of 0.35% of the deposit amount is charged for deposits with debit cards from an EEA country. Positive across the board, because the virtual banking service enables consumers from all over Europe to open an account within a few minutes and completely on their smartphone. Need to deposit cash? Monese is a digital financial services provider in the United Kingdom that provides instant current accounts in the UK and the Eurozone. fee of 2) Monthly foreign currency card spending allowance: 9,000 free, 2% charge above this . Monese, a new UKs challenger bank, offers you a bank account which stands out for its speed, simplicity, and internationality. Plans from $15/m. The costs on the 'Essential' plan break down as follows: Monese 'Classic' increases your allowances and also reduces your fees for currency exchanges. The Classic account comes with a 5.95 monthly fee and Monese Premium costs 14.95 per month. We had a look at different customers' reviews to assess its real suitability. You won't pay a fee to spend in foreign currency on your debit card. However, you will pay more for currency transfers. This means that Monese users can: EnterMONITOwhen signing up with Monese to get a 10/10/30 lei bonus after the first card transaction. Monese Fees and limits information - 2021-01-19. In addition, a declaration of consent to the general terms and conditions, the data protection declaration and, if required, the receipt of the newsletter will be obtained. The Monese Current Account provides all the services you would expect from a standard bank account, including: Monese bank accounts come with sorting codes and account numbers, so you can quickly get paid directly into your Monese account or accept transfers from elsewhere. Extra Protection. 4,95 Euros for sending the debit card. Of course it is possible to setup recurring payments into those pots as well. Fees and commissions. One of the most important features for Monese customers is for sure the EURO IBAN account that you now automatically find in your Monese account when youre a customer based outside the UK. Monese fees can add up fast. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. To get a better picture of how Monese's pricing compares to that of other multi-currency alternatives, take a look at the table below: 0.00% (first 1,000.00, 2.00% after that), 1.50/1.50 + 2.00% on weekdays (3.00% on weekends), 0.00% (first 200.00 per month, 2.00% after that), 0.00% (first 200.00 per month, 2.00% thereafter). Each account comes with a debit credit card and the ability to transfer money in over 19 currencies to countless countries. With the Starter, Classic and Premium packages you can freely choose what suits you best and start at 0,- Euro up to a maximum of 14,95 Euro per month. See below: Currency exchange fees for international incoming transfers: Purchases with Monese Card (Online and POS) in international currency: Fee applicable once ATM allowance detailed above is exceeded: Currency exchange on using the Monese Card for ATM withdrawals in foreign currency: First physical Monese Card with your Monese GBP Account or Monese EUR Account or Monese RON Account: Current incoming international transfers in RON, GBP & EUR are free until 31/01/2023. We are impressed and award 5 out of 5 points for speed. If you do not like any of the changes described in the email, you are entitled to close your Monese Account at any time (see the section Closing Or Suspending Your Monese Account in your Agreement for details on closing your Monese Account ). The next step is verification. For UK customers the Monese contactless debit card is issued by PrePay Technologies Limited pursuant to a licence by Mastercard International. 0.01% APY interest. Monese offers you 3 different account models to choose from. With a click on Correct so the process is continued. The supported languages at Monese are currently (January 2022): Although Monese offers something like a full bank account, it is not legally a bank at all, but a fintech, or financial technology company. A separate application has been integrated into the app for this purpose. To deposit with a card, it must be deposited in the account as a means of payment. Personal Business. So in order to get your 20 you can use our invite code GOODBYE21 when you sign up here. This information will also be displayed in your Monese App. EnterMONITO21when signing up to get 5 after the first card transaction (excl. When you open an account, the SCHUFA is not queried or data is shared with the credit agency. The company charges a fee of 0.50% to 2% for currency conversions, with premium subscriptions even 0%. Customers must order, pay for, and activate the physical card to qualify.For more in-depth analysis, you may check our Monese comparison with N26 or compare Monese with wise. On top of allowing you to transfer money within the UK and within the Eurozone withSEPA payments, Monese also provides a currency transfer service that lets you send money internationally to with no hidden fees. They get 2% of the currency exchange fee which is a minimum of 2; 5.95 per month for plan 2. Monese's paid plans are also conveniently payable on an annual basis at a 30% price reduction. 8.8. To activate the card, you have to activate the virtual card in the app instead of the debit card. The Monese Starter account comes with a one-off card fee of 4.95 . Both partners can have their salary paid into the account and common expenses such as rent, insurance, etc. You get special allowances for spending abroad without incurring a fee, although you will pay more for currency transfers. Monese provides customer service and support in English, Spanish, French, German, and others. Customers whove already had a Monese account before this new BE- and FR- IBAN feature, which was introduced just recently, will still find their old GB-IBAN in their user area. The European FinTech Awards awarded the company the title of Best Challenger Bank in 2016. The Monese account is one of the easiest and fastest bank or checking accounts to open currently. If you do not like any of the changes described in the email, you are entitled to close your Monese Account at any time (see section 2.38 for details on Both are credit cards, but you don't get credit in the first place, they can only be used for payments. Average Trustpilot rating of 3.9 out of 5 stars. What is needed is a photo of an official identity document, a video of the future account holder and some further information. The Essential account is the most popular. The commission allows us to continue to offer our platform free of charge to you and to improve our product portfolio. English, French, German, Spanish, Portuguese, Italian, Czech, Estonian, Lithuanian, Polish, Romanian, Turkish, Best Banking App 2020 (British Bank Awards). Also the virtual card is finally there, which some may have been missing earlier. They have the following plans: 0 per month for plan 1. It is therefore not necessary to leave the app, create a photo and then integrate the images back into the app. Monese does not carry out a credit check anyone can receive the account and is therefore particularly interesting for those persons who have difficulties opening a normal current account in Germany due to a debited SCHUFA. How You Can Open a Bank Account With Only a Passport. And if you favour Android smartphones, you can also use Monese cards through Google Pay in Austria, Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Norway, the Netherlands, Poland, Portugal, Slovakia, Spain, Sweden, and the UK. The "Classic" account model costs 4.95 euros per month, while the "Premium" account costs 14.95 euros per month. Transfers made to Monese current accounts are stored in a network of stable European banks. for payments in foreign currency. We analysed Monese's data protection statements, pricing overview and regulatory fee information. DE296850171. When applying for a Monese RON Account, you can choose between the Simple, Classic and Premium Plans in the Monese App and find the full Monese Account Limits in the table below. Within a very short time, a SEPA current account is available without any proof of creditworthiness if desired, including a PrePaid debit card with contactless payment function. The Monese account in the Simple tariff is basically suitable for everyone, as there are no fixed costs and use as a second account is possible. A short text must be read from the display for the video. Monese Bank, identified as a modern fintech, has over 2 million customers and aims to simplify, accelerate and economize the opening of a bank account and its usage. Accounts can only be accessed from a single mobile device preventing the possibility of anyone else from gaining control of funds from another location. With the Classic account, for example, there are free cash withdrawals up to 900,- Euros and lower fees for international currency shipments. They use secure, multifactor authentication to verify identities, not only 3-D Secure but also Touch ID and Face ID biometric recognition. Monito's reviews are trusted by 100,000+ readers every month. When you open an account, you will have almost all the functions that you will know from a normal current account, such as making payments, direct debits, sending funds at home and abroad, and much more. The purchase protection scheme becomes more extensive the higher the plan you choose, starting out at a maximum of 600 for 'Essential' plan users and going up to 1,800 for 'Premium' plan users. After moving from Estonia to the UK and being barred from opening a bank account without credit history, Norris Koppel began working a new, inclusive digital bank which later turned into Monese. Our extensive range of trusted affiliate partners enables us to make detailed, unbiased, and solution-driven recommendations for all types of consumer questions and problems. All three variants are granted without checking your credit history. In terms of pricing, Monese is less oriented towards banks and more towards mobile telephony. Yearly subscriptions are even cheaper with only 49.95 / year, which equals as little as 4.16 / month. According to the company, clients can save up to 88% while sending money using Monese services. The next step is to define an access code for future registrations. The app takes over the alignment of the camera and the upload of the video. Our mission is to make credit and finance simpler and more accessible for everyone. Learn more. Send money from the US to the Philippines, Send money from the Canada to Philippines. Where this is the case, we will send you an email as soon as you have successfully opened your Monese Account, to explain any differences to your Plan, the features of your Plan, including any fees and top-up requirements. And this despite the fact that it is a prepaid credit card, which is often said to function only to a limited extent as a means of payment. The account in the "Starter Pack" is free of charge, you only have to pay for transactions such as foreign transfers or cash withdrawals. Cash deposits: 2.5% of cash total at PayPoint 1 at Post Office: Monthly ATM & cash deposit allowance: 900 free, 2% charge above this threshold: Outgoing international transfers: Wholesale exchange rate + min. Now you can choose your plan and deposit money directly. 2022 GIROMATCH GmbH, Ludwigstrae 33, 60327 Frankfurt am Main HRB 99869 Amtsgericht Frankfurt, USt-IDNr. For the optional debit card no fee is charged at all, however, there is a delivery fee of 4.95. . Tell us your opinion, experience and criticism: GIROMATCH.com is your credit platform. The Classicrate includes an account maintenance fee of 5.95 per month. You can use code MONITO at signup and get a 10/10/30 lei bonus into your account after your first card transaction. The premium account is 124.95 a year or the equivalent of 10.41 a month. Transfers for Premium customers are free of charge. Here's a payment in a Starbucks, less than 24 hours after we opened our Monese account: Monese offers you the possibility to organize your account inflows and outflows easily and clearly and to keep an eye on your budget. Your IBAN starts with "BE*" and has only 16 digits, in contrast to a German IBAN which starts with "DE*" and has 22 digits. (If you applied for a Monese EUR Account and chose a Plan before 1 July 2019, you wouldve been able to choose from the Starter, Plus and Premium Plans in the Monese App). Each account type offers you more and more advantages, whereby you already get all important payment functions and a virtual credit card for free with the free account variant "Monese Starter". There is again no fee for the Debit Card. Monese provides a dedicated, prepaid debit card that you can use worldwide to pay for goods and services. One of its closest competitors when it comes to international use is Revolut, which offers free card transactions in 120 countries, fee-free transfers at the interbank rate in over 30 currencies and free ATM withdrawals up to 200 a month followed by a 2% fee compared to Monese that allows up to 100 in free cash withdrawals a month before . In return you will also get 50,- Euros credit on your account and you can invite up to 15 people. Annual fee. In addition, the top-up with a debit card works instantly, meaning the card can be loaded directly and used without delay. (If you applied for a Monese GBP Account and chose a Plan before 1 July 2019, you wouldve been able to choose from the Starter, Plus and Premium Plans in the Monese App). The other limits on business accounts are: Adding cash via Post Office: 500 per transaction per day. Monese's 'Starter' plan provides you with abasic, free current account for /0.00 per month. . If you have more than one Monese Account, youll only be charged the monthly or annual subscription fees shown below for your Primary Monese Account and not for any other Monese Account you hold alongside. For other issues, it takes up to 48 hours for feedback. You have just arrived in Germany and you need to open a bank account in order to get your salary and pay your first bills? Monese currently has around 300 to 400 employees and has 2 offices in the UK and Estonia. Notifications whenever you spend or receive money; Send and request money from your contacts; Fast bank transfers to domestic or international accounts; Quickly pay rent, utility or other bills with transfers; Instabalance, for real-time account balance updates; Balance graph to track and manage spending habits; Overdraft protection to prevent overspending. You can choose to apply for a Monese Joint Account with another person with the below limits applying to both Monese Account and Monese Card holders. Contactless debit card FREE; ATMs & cash top-ups 800 FREE monthly 2% fee after Well-designed and smooth interface with many interesting features, including finance updates and 'Savings Pots'. 0.5% currency exchange fee (min. It has developed breakthrough technologies and processes to protect accounts against unauthorised access. Out of all our tests of fintechs, checking accounts, and banks, Monese absolutely delivered on speed and simplicity. You will need a Monese current account if you want to make international money transfers. We only gave Monese 4 out of 5 stars because the phone service wasn't always available for urgent issues and you're only sure to get immediate feedback on your problems with the premium version. The physical debit card still needs a few days, but thanks to contactless, the account is already fully operational with our smartphone even now. Customer funds are also safeguarded if the company should go into financial distress and will never be reinvested by Monese. When applying for a Monese EUR Account, you can choose your Plan in the Monese App and find the full Monese Account Limits in the table below. Deposits by bank transfer (whether from the SEPA area or not) are free of charge. The Simple plan is a basic Monese current account that comes with special allowances for foreign transactions at a low fee. This does not impact incoming SEPA transfers in euro from a euro account outside your country but inside the Single European Payment Area. The fees for sending depend on your account model and are 2.5% for the free Starter and 0.5% for the Classic account. Sometimes you may even receive benefits such as a cashback or rewards for completing it through us. You'll pay a 0% foreign currency fee when making international payments from your Monese app. Free first physical Monese Card with your Monese GBP Account or Monese EUR Account or Monese RON Account: Second physical Monese Card with your Monese GBP account or Monese EUR Account: Card replacement (in case of being lost or stolen): Checking your balance and transactions in-App: E-mail alerts, mobile notifications, in-App and SMS messages: Paysafecash top-up (available for Monese EUR and RON Accounts only): Post Office cash load (available for Monese GBP Account only: PayPoint cash load (available for Monese GBP Account only): Real time transfers between Monese Accounts (including pots) owned by the same user: Real time transfers between Monese Accounts owned by different users: Currency exchange on outgoing real time transfers between Monese Accounts, whether owned by the same user or between different users: Currency exchange on outgoing international transfers from the Monese App: Incoming international payments: Current incoming international transfers in RON, GBP & EUR is free until 31/01/2023. Personal and joint customers can deposit 1,000 each calendar year free of charge at the Post Office. This is the identification code for PREPAYMENT SOLUTIONS EU S.A., the licensor for Monese in the European Economic Area. Alternatively you can close your account by sending an email to closures@monese.com but be sure to send it from the email you gave when applying for the account. The Classic tariff offers an almost fully-fledged account for just under EUR 5 per month, including card equipment and cash supply. Monese now allows users in France, Spain, Portugal, the Netherlands, Austria, Luxembourg, Poland, Bulgaria, Romania, and Belgium to deposit cash onto their Monese accounts with Paysafecash, a new, popular service in Europe. It's easy to top-up . If you make a deposit by bank transfer, you can find out the IBAN of your account by clicking on the corresponding function. You can choose to apply for a Monese Joint The costs on the 'Starter' plan break down as follows: The next step up, Monese's 'Essential' plan provides you with abasic, free current account for /1.95 per month. We sent an e-mail to the support department during the account opening process and inquired about the typical duration of the application process. Cash withdrawal via cashback: depends on the store operator and . Our revenue is generated by the core fees that we charge to you. Monese also allows you to create a virtual debit Mastercard, whether you already have a physical one or not. Monese is not strictly speaking a bank, but a payment institution that gives you access to financial services in Euro countries, the UK and Romania. You can also set up direct deposits with employers, so your salary goes directly into your Monese account balance. By the way, the EUR accounts support direct debits! Since the dispatch of the real card is very fast we hadnt been missing the virtual one, but its a cool feature that you can start using a card online right after opening an account with this neobank. $15/m on checking & $5/m on savings account. Neobanks: Comparison of Fintechs and Banks, Standard, 14 languages, email, phone and chat, Premium, 14 languages, email, phone and chat, 1 King Street, London EC2V 8AU, United Kingdom, What makes Monese definitely better than all other competitors, No German IBAN for the account, but a Belgian one, starting with BE and 16 characters long, Delivery of physical debit card takes about 5 business days. Essentially, the Simple Plan is ideal for moderate travelling, receiving your salary, or paying your bills. If you open your Monese Account, the Plans and any features of the Plans available to you, including any fees and top-up requirements, may be different to the descriptions in this Agreement depending on the country you live in. Top-ups; Instant Card top-up: 0.3% fee per card top-up Sofort top-up: Free within 200 allowance with a 2% fee after Paysafecash top-up (available for Monese EUR and RON Accounts only): 3.5% per Transaction (3 / 15 lei minimum fee applies) Post Office cash load (available for Monese GBP Account only: 3.50% (minimum 3) PayPoint cash load (available for Monese GBP Account only): 3.50% . Whichever plan you choose, you'll have access to the same features, which differ in their allowances and functionality depending on the plan. Where this is the case, we will send you an email as soon as you have successfully opened your Monese Account, to explain any differences to your Plan, the features of your Plan, including any fees and top-up requirements. You get a weekly and monthly overview of your expenses and income and you can set personal limits on how much money you want to spend. Most transfers are completed by the end of the next working day. 2) is charged for international bank transfers, card payments and cash transactions in foreign currency. VPN Internet Security. For example, if you deposit 10 then we'll add 9 to your account. If you open your Monese Account on or after 1 August 2020, the Plans and any features of the Plans, available to you including any fees and top-up requirements, may be different to the descriptions in this Agreement depending on the country you live in. Around 21 thousand people have left reviews, and we summarise positive and negative comments below. Not anymore, since individual functions such as direct debits are finally available on the EU account. The Starter account is free and you have all the features at your disposal. Then you have to choose whether to open an account under EU law or British law. Whether it's Bulgaria, Brazil, Romania or Switzerland, with a Monese account you can send funds all over the world in a few seconds. We probe and verify every statement. This does not affect the opinions and recommendations of our editors. Depending on the currency of your account and where you live, we offer cash top-ups through the UK . For example, it is possible to transfer money to Poland in EUR and have it credited to the recipient in zloty. Monese Premium. This will be a Belgian IBAN in most countries, but residents of France and the United Kingdom get a local IBAN! The card delivery costs 4.95 and will arrive at the registered address within 14 days. The fees shown in euros apply if you have a Monese EUR Account, the fees shown in pounds sterling apply if you have a Monese GBP Account and the fees shown in lei apply if you have a Monese RON Account. If you are transferring funds from your home bank, it may take some time for the amount to be credited to your account. If you do not like any of the changes described in the email, you are entitled to close your Monese Account at any time (see section 2.38 for details on closing your Monese Account). Money transfers are very fast, even with cross-border transfers. The Monese app on Android (Google Play) was used. more information Okay! To pay your nonimmigrant visa (NIV) application fee in cash at the listed Vietnam Post branches found here, this deposit slip must be used before the expiration date, as noted above. This website uses Google Tag Manager and Google Analytics, to gather anonymous information such as amount of visitors or the most popular pages. Just as many digital and monetary service providers Monese does offer a referral program for their users. Co-Founder of Monito, Laurent has been reviewing money transfer services for over six years, and loves to share his expertise in international payments to help others. For EEA customers the Monese contactless debit card is issued by PPS EU SA pursuant to a licence by Mastercard International. We cannot guarantee completeness and ask you to refer to the information on the Monese website yourself before purchasing the product, since its costs may change over time. Reviews are written independently by Monito's editors and recommendations given are our own. You can open an account even if you have a negative SCHUFA or a negative entry. However, it is not (yet) possible to participate in direct debit transactions. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. Monese is also much-loved by its customers across the board (8.7/10) for its high-quality product offering, despite not yet having a banking license of its own and being smaller than many of its competitors (7.9/10). Or, if you are in the UK or Romania, you can deposit cash via PayPoint. After that you have to wait until the verification is done. You can deposit between 5-300 in one go. Account holders can now make deposits and order the debit card on request. Free ATM withdrawals are 1.5 per transaction; Foreign currency spending costs 2.00% per transaction; Free foreign currency transfers to other Monese accounts, with a2.50% fee when sending to non-Monese accounts on weekdays and 3.50% on weekends. Log in. If you deposit 100, we'll add 99. So users can easily create virtual pockets or pods and start saving. The commission has no influence on the product or the price you pay for the product. Premium Account14.95/m. Monese Ltd is a company registered in England and Wales with the registered company number 08720992 and its registered address at 2 Tallis Street, London, EC4Y 0AB. A fee of 0.35% of the deposit amount is charged for deposits with debit cards from an EEA country. There is no foreign transaction fee, providing you spend below certain limits based on your price plan. Furthermore, unlike an account from a German bank, your Monese account will not be reported to the SCHUFA or any other credit agency. See below: Transaction fees for international incoming payments: Second physical Monese Card with your Monese GBP Account or Monese EUR Account: Paysafecash cash top-up (available for Monese EUR and RON Accounts only): Post Office cash load (available for Monese GBP Account only): Foreign Currency Spend Allowance (Monese Card only): Fee applicable once Foreign Currency Spend Allowance is exceeded: Cash top-up via Post Office Per transaction: Cash top-up via Post Office Per month (30 days): Cash top-up via PayPoint Per transaction: Cash top-up via PayPoint Per month (30 days): Incoming UK Faster Payment Per Transaction: Incoming UK BACS Payment Per Transaction: Outgoing UK Direct Debit Payment Per Day: Bills Protection (Accident, Sickness & Involuntary Loss of Employment) Limit per claim: Bills Protection (Accident, Sickness & Involuntary Loss of Employment) Waiting Period: Bills Protection (Accident, Sickness & Involuntary Loss of Employment) Qualifying Period: Bills Protection (Hospitalisation Stay) Limit per day: Bills Protection (Hospitalisation Stay) Aggregate Limit per year: Bills Protection (Hospitalisation Stay) Maximum benefit duration: Bills Protection (Hospitalisation Stay) Waiting Period: Bills Protection (Hospitalisation Stay) Qualifying Period (sickness): Bills Protection (Hospitalisation Stay) Qualifying Period (accident): Purchase Protection Aggregate Limit per year: Purchase Protection Deductible (minimum value): Purchase Protection Maximum Days from date of purchase or delivery: Outgoing SEPA Direct Debit payment Per Day: Top up via Sofort Daily (24 hour rolling): Top up via Sofort Monthly (30 day rolling): Bills Protection (Accident, Sickness & Involuntary Loss of Employment) Limit per claim per month: Bills Protection (Accident, Sickness & Involuntary Loss of Employment) Aggregate Limit per year: Bills Protection (Accident, Sickness & Involuntary Loss of Employment) Maximum benefit duration. Monese closely adheres to the latest standards in financial security, applying modern tools and techniques to protect its systems 24/7. Online access through the Monese app or your browser; Transfer money to over 30 countries in 18 currencies; Currency exchange services at the mid-market rate. Monese then sends another code, which has to be entered in the next step. Cashback earned will appear in your account at the end of the following month. Unlike mostneobanks, Monese also offers joint accounts! You get special allowances for spending abroad without incurring a fee, although you will pay more for currency transfers. All you need to do is tell your invite code to your friend. Monzo has teamed up with Wise to provide low-cost international money transfers powered by experts in foreign exchange. For UK customers Monese Ltd is a registered agent of PrePay Technologies Limited which is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (with firm reference 900010) for the issuing of electronic money and payment instruments. You can change between your Plan at any time. A journalist and expert in digital marketing, Cecilia strives to help Monito users navigate the world of money transfers and exchange rates, and offers tips on how to save money on remittances. Even paying with a credit card in a taxi worked without any problems. We generate our revenue from the core fees that we charge to you. ATM withdrawals and foreign currency card spending, for example, comes with a 2% fee once you surpass their respective monthly limits. You can change between your Plan at any time. 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