Monese Review: What is Monese and How to Use a Monese Card

Monese Review What is Monese and How to Use a Monese Card
My Monese Review
  • Free Account
  • No Monthly Card Fees
  • Free ATM Withdrawals
  • Transfer Money Globally
  • Freeze and Unfreeze Your Cards
4.9

My Monese Overview:

Monese is great for international travelers and works well if you are looking to set up an account quickly in EUR and GBP. Monese offers fee-free card payments and ATM withdrawals abroad, something you can only dream of with a traditional bank.

Finally, if you regularly need to make international money transfers and hold multiple currencies, go check out our Revolut review, which beats Monese by allowing you to hold and transfer 29 different currencies for free.

Overall, Monese is a must card to have, especially if the FinTech industry excites you.

Use bonus code MILIT083 upon registration, after depositing money, you will receive £15/€25 within 48 hours.

Quick Monese Overview:

Monese is a digital financial banking service, registered in the United Kingdom. Through the Monese mobile application, you can access your EUR and GBP accounts immediately. 

Monese app can manage the whole banking solution for you through an advanced and highly featured mobile application.

The smartphone technology in this digital banking system drastically improves a customer’s traditional banking experience. You can enjoy your life without standing in the long queue and facing the difficulties of standard bank defaults.

What is Monese?

As we already mentioned, Monese is an online banking system. This service is absolutely interesting for digital-oriented people who want to open a European and UK bank account. It is also very helpful for those who want to live as an independent global citizen and find the need to open a UK or European bank account without a proper physical address.

What is Monese

£15/€25 Bonus Code - MILIT083

Use bonus code MILIT083 upon registration, after depositing money, you will receive £15/€25 within 48 hours.

It has provided the best banking solution and other needs of basic banking programs via smartphone since 2015. It can give a solid chance to the people and citizens of the UK and abroad to experience a streamlined and modern finance solution.

You can make use of your money to any extent and any places. Monese is a step forward than the other banking system in the world. So, it is popular for its easy and smart accessible features.

The special feature of Monese is that anyone can open their account from anywhere in Europe and the UK. For this, you do not need to submit or show your physical address.

You do not also need to show your regular or monthly income or credit history as well. It offers you a Mastercard that is a contactless debit card. It also proves fast and speedy customer support.

How Monese Works?

Like a traditional banking system, Monese works but in a more streamlined and sorted manner. You can open digital accounts, and the service works as follows:

  • Debit card. Order and manage your contactless debit card. You can see whether your card is active and get a reminder of your pin.
  • Support. The support tab provides customers with easy access to customer service via instant messenger or email. This tab also has an FAQ section.
  • My plan. Monese offers a free account and two paid account options. From this tab, you can see what benefits might come from an upgrade or subscribe to the service.
  • Direct debits. View and manage your active direct debits. Your account number and sort code are provided on this page for you to copy.
  • Add the Eurozone account. Add a Eurozone account at the click of a button. You can switch between your UK and European accounts at any time on the home page.
  • Earn an Instant Bonus. Invite a friend and give them a BONUS of £15/€25 once they deposit money into their account. Use bonus code MILIT083 upon registration, after depositing money, you will receive £15/€25 within 48 hours.

How You Can Transfer Money Internationally with Monese:

  • UK bank transfers. Pay friends, families, or bills with bank transfers. Monese uses the Faster Payments Service and says that it typically takes around 2-4 hours for your payee to receive the money you’ve transferred.
  • Foreign transfers. Transfer money abroad into eight different currencies. Monese uses the “interbank rate,” much like Revolut. The delivery time for your money depends on the processing times of the receiving bank. Depending on the currency you’re sending and the time (try to send before 4 pm), your transfer should take between 2-4 business days.
  •  Foreign transfer from Eurozone account. If you’re transferring money to someone with a Euro account through a SEPA payment, then it should reach them by the next working day – or the day after that.
  • Direct Debits. Set up a direct debit and automatically pay for utilities and services. Whether it’s your gym membership, phone contract, or your electricity bill – this way you won’t forget to pay rent this month.
  • Standing Orders. Set up a standing order (or ‘Recurring Payment’) to make routine payments for a specified amount, payee, and date – all managed in-app.
  • Pay Your Contacts. Make payments to friends and family – straight from your phone’s contact list. See who’s already a Monese user, and to whom you’ll be able to make an instant payment.

Monese Business Account

Monese can provide a business account that features instant account opening service. You will get a premium service of a business debit card.

The cost of the Monese Business account is up to $9.95 per month. This also includes a feature of Monese personal account plan.

Monese Pricing Model

£15/€25 Bonus Code - MILIT083

Use bonus code MILIT083 upon registration, after depositing money, you will receive £15/€25 within 48 hours.

Transfer Money Abroad

If you are an account holder of Monese, then you can transfer money abroad into eight different currencies. They transfer millions of pounds every day. They also buy currency at a reasonable and wholesale rate. 

Apart from this, they can also pass these best rates to the clients or customers. It is a great and better medium to transfer and send money abroad cheaply.

After its launch, Monese has achieved more than 500 000 customers and handled them with great care. It has already crossed a billion of transactions as well. You can simply open an account in a few minutes without any hassle.

Is It Safe to Use Monese?

Monese is regulated by the FCA. It can also adhere to their term and conditions. From more than 6000 viewers, it got the Trustpilot rating of 9.2 out of 10.

The account holders can access their Monese account from a single device. It can save your account from potential fraudsters. So, no one can access your account from anywhere and other devices. 

Users can add a new device if they want. But it needs a complex and tricky authentication process regarding every single use. So, as you can see that your money is safe with Monese.

Monese Reviews: The Advantages

  • It is a perfect alternative to the traditional and old school UK bank account.
  • It is fast, easy, and smart to open your account with Monese.
  • They can also provide the best customer service support that can answer questions and resolve it in 12 different languages.
  • Many useful features are there. You can also freeze your card if you lose it.
  • You do not have to pay any extra charges to load your cash into the account.
  • You can open the UK or European account and switch as well.

Send and receive money with Monese Accounts

Monese Reviews: The Disadvantages

  • Few customers reported some serious issues regarding their services, and they blocked their Monese accounts.
  • According to a few customers, Monese did not provide them with full access to their funds.
  • Some issues related to missing payments.
  • There are no physical branches to contact manually.

Which Are the Best Alternative to Monese

So far, I am using alternative banking cards from Revolut, Curve, Transferwise, and iCard. I also use Coinbase to buy altcoins.

Final Thoughts on My Monese Review

Monese is great for international travelers and works well if you are looking to set up an account quickly in EUR and GBP. Monese offers fee-free card payments and ATM withdrawals abroad, something you can only dream of with a traditional bank.

Finally, if you regularly need to make international money transfers and hold multiple currencies, go check out our Revolut review, which beats Monese by allowing you to hold and transfer 29 different currencies for free.

Overall, Monese is a must card to have, especially if the FinTech industry excites you.

£15/€25 Bonus Code - MILIT083

Use bonus code MILIT083 upon registration, after depositing money, you will receive £15/€25 within 48 hours.


Some links on this page may contain affiliate links, which means that I may earn a commission if you register through them. None of the posts on this blog have been sponsored. Opinions are mine.

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