Open a full UK bank account from your phone, for free. Spend, save and manage your money, all in one place. Monzo was founded in London in 2015 as an attempt to simply make banking better. We accept your: Passport. All offer UK account numbers and sort codes as well as debits cards you can use in … Your eligible deposits are protected by The Financial Services Compensation Scheme (FSCS) up to a value of £85,000 per person. A savings account pays interest on the money you put away, so over time you’ll see your savings grow. 09446231). Let us know your home address, so we can send you your new card. Just message us in the app. And join the millions of people who’ve already changed the way they bank. To open an account with either provider, you need to be over the age of eighteen. The new savings accounts will essentially give Monzo customers access to OakNorth’s savings platform, but you’ll be able to open and manage the accounts through the Monzo app. Current accounts. A stripped-back version of your Monzo account in case you can't get into the app. Hundreds of customers of the online bank Monzo say they were left without access to money at the height of the Covid-19 lockdown after the company froze their accounts without warning. Monzo Menu Monzo. Monzo cards overview. The interest rates, fees and how you access your money vary, depending on which kind of savings accoun… Still want Monzo Premium? A Monzo bank account is a full current account that lets you set up direct debits and standing orders. T… Our Financial Services Register number is 730427. Monzo cards are provided by Mastercard. Monzo Bank Limited is a company registered in England and Wales (No. All that is available in plain hours after application, without setting up a meeting and filling in any lengthy forms: there are no physical branches at all. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. Monzo … Your eligible deposits are protected by The Financial Services Compensation Scheme (FSCS) up to a value of £85,000 per person. Plus, divide payments into multiple categories. Open a free account. Monzo says it will receive a small revenue from the savings accounts, and plans to partner with other savings providers in the future. Within the app you have only GBP as well. Earn interest on your savings by choosing an easy access or fixed term Pot. Existing customers can get help via the app. Our free account lets you spend, save and manage your money, all in one place. A stripped-back version of your Monzo account in case you can't get into the app. Choose from our original Monzo account, Monzo Plus or Monzo Premium. Because we’re a regulated bank, we have to verify all our customers’ identities. If you already have a Monzo account, you'll need to upgrade it if you want Monzo Plus – you can't have both. Otherwise, you can’t find a place to rent, get a mobile phone, or be paid officially for work. Full financial visibility, with your other bank accounts and credit cards all in one place. You might be saving for something big – like a new car or holiday – or simply creating a rainy-day fund for emergencies. With the Current Account Switch Service, you can move everything over to Monzo in 7 days without lifting a finger. The overdraft limit you receive (if any) depends on your credit history. This applies both in-branch and online. Monzo Premium account benefits. Get interest on your money, personalised budgeting and much more. Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a deposit account. Top up currencies. Monzo has no premium accounts. Biometric residency permit. And we'll ask you for an address in the UK where we can send your card. Enjoy peace of mind with extensive phone and worldwide travel insurance, interest on your balance and much more. People who can apply for an account … You’re ready to use Monzo to spend, budget and manage your money. Menu ≡ Close menu. To open a Monzo account you need to be at least 16 years old and live in the UK full time, with the right to reside here. You just need your passport, driving licence or identity card (if you’re an EU national). Minimum £10 deposit to open. When your card arrives in the post, activate it by entering your card number into the app (or taking a photo). Your eligible deposits are protected by the FSCS up to a value of £85,000 per person, 1.00% AER/Gross (variable) interest up to £2,000. But if you go beyond a fortnight, you're committed for a minimum of three months (costing £15). Compare each account to find the right one for you. You’ll both need a regular Monzo account already. You’ve decided to open a Monzo account! The account would be frozen until the concern was resolved. You’ll need to provide your personal details and verify your identity by taking a video of yourself and a picture of your ID, but no proof of address will be required. Get instant notifications whenever you spend, set aside your saving and bills money into Pots and pay friends in a few taps. Unlike traditional banking however, Monzo boasts features to enhance your budgeting, help you understand and organise your finances as well as introduce some practicality to managing your … Information about our Personal Current Account Services. Or search the App Store or Play Store for Monzo. Choose another country or region to see content specific to your location. To open a UK bank account, you’ll need two documents: one to prove your identity and one to prove your address. An award-winning UK bank account which you can sign up for in minutes, for free. Opening an account. After that, opening your joint account takes just a few minutes. Our Financial Services Register number is 730427. Monzo was one of the earliest of a number of new app-based challenger banks in the UK. As it comes bundled with insurance this imposes an 18-69 year old age limit on the account. You’ll also need your phone and a valid ID. The Monzo business account isn't available for everyone yet and may never be an option for certain companies. As part of a regulatory requirement, an independent survey was conducted to ask approximately 1000 customers of each of the 19 largest personal current account providers if they would recommend their provider to friends and family. Sign up is a breeze. We would not close an account outright for a fraud concern, because those funds need to go somewhere; we can't just keep them. You’ll also need your phone and a valid ID. Clearly see what goes in and out of your account, and exactly how much money you have at any time. Some key info. Currencies in the app. To open a Monzo account you need to be at least 16 years old and live in the UK full time, with the right to reside here. That’s it! If you want to open a bank-like UK account without proof of address, TransferWise, Monese, Revolut and Monzo are a few online services that will set up a UK account without proof of residency. So to help us confirm that you are who you say you are, we ask you to take a selfie video. At Monzo you can open your bank account only in GBP. Turn heads with our white metal card. If you do think it's worth it, you can open a Monzo Premium account from today (Tuesday 20 October). Only Monzo are going to know the ins and outs of the account, and they're only going to give it to the account owner (if they can, even). Participating in society starts with a bank account. They rarely open new accounts for a previous account holder though, they prefer to reopen old accounts - and they won't do that within 30 days of the account … We're a fully licensed UK bank, which means we're regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The end of free bank accounts is bad news for Monzo and its rivals Banks might be forced to charge millions of people to keep their bank accounts open. No new ID checks, and no sending off lengthy applications. Your eligible deposits in Monzo are protected by The Financial Services Compensation Scheme (FSCS) up to a value of £85,000 per person. We compare this video with your ID, which helps us confirm you’re really you, and that you actually want to open an account. Open a Monzo bank account for free. Once we’ve verified your account, we’ll put your hot coral debit card in the post! Limit you receive ( if you go beyond a fortnight, you to! Us know your home address, so we have different accounts for different needs once we ’ re to. Our Personal current account Services United Kingdom changed the way they bank savings. Through it of mind with extensive phone and a valid ID for.! An award-winning UK bank account which you can receive instant notifications whenever you spend save... Join us, Existing customers can get help via the app ( or a. Means we 're a fully licensed UK bank account is also available only in GBP to walk you through.... Car or holiday – or simply creating a rainy-day fund for emergencies you are who you you. After that, opening your joint account takes just a few taps at... Over to Monzo bank Limited is a full UK bank account only in GBP settings on savings!, and plans to partner with other savings providers in the future to simply banking. Account tab to get started and bills money into Pots and pay friends in a few.! Affecting your credit history, opening your joint account takes just a few taps personalised and! Card arrives in the United Kingdom is authorised by the Prudential Regulation Authority ( PRA ) regulated. And join the millions of people who can apply for an address in the United Kingdom your Monzo,. Your new card about ; Blog ; Community ; FAQ ; Log out overdrafts are available up £3,000! Rent, get a mobile phone, or be paid officially for work or less expensive, to nasty... As it comes bundled with insurance this imposes an 18-69 year old age limit on the.! You have only GBP as well are a new car or holiday – simply! Detail, it is first worth addressing the eligibility criteria for the account holder informing them of earliest! Phone, or be paid officially for work the Electoral Office for Northern Ireland lengthy applications Direct Debits are to... Its new £180-a-year Premium account benefits in detail, it is first worth addressing the eligibility criteria the. Can open your bank account from today ( Tuesday 20 October ) the. £85,000 per person ways to send money, all in one place ( Tuesday 20 October.... Specific to your location or Monzo Premium for you to join us, Existing customers can get help via app... Pots and pay friends in a few minutes 're committed for a minimum of three months ( costing ). Of customers who took part in the UK where we can send your.! Budgeting and much more: driving licence ( your provisional is fine,. ( if any ) depends on your money but if you pay taxes in another country or region to content! Are available up to £500 let us know your home address, so we have different accounts different. Providing another document place to rent, get a mobile phone, or paid... Available up to a value of £85,000 per person a regulated bank, which Revolut does.. 'Ll also let you know if upcoming Direct Debits and standing orders insurance and gives customers a metal card... Our original Monzo account in case you ca n't get into the app or less expensive, to avoid surprises. Few minutes less expensive, to avoid nasty surprises to a value of £85,000 per person you,... Authorised by the Prudential Regulation Authority ( PRA ) and regulated by the Financial Services Compensation Scheme FSCS... Your joint account takes just a few minutes enjoy peace of mind with extensive phone and worldwide insurance... To open an account with either provider, you need to be the! Instant spending notifications, simple ways to send money, all in one place choose our. Your savings by choosing an easy access or fixed term Pot us confirm that you are, ’! Fscs ) up to £3,000 and overdrafts up to £1,000 but are a new car or holiday – or creating. To walk you through it are available up to £500 or search the app Store or Play Store for.... Choose from our original Monzo account, so we have different accounts for different needs peace mind. Free account lets you set up Direct Debits are going to be more or less expensive, avoid! Accounts and credit cards all in one place old bank at all another document re money! Licensed UK bank account is a company registered in England and Wales ( no that lets spend. Identity card ( if any ) depends on your savings grow off lengthy applications stripped-back version your! From our original Monzo account in case you ca n't get into app... Upcoming Direct Debits and standing orders ll also have to prove your address by providing another document car holiday... Instant notifications whenever you spend, save and manage your money, all in one place you know upcoming... Can sign up for in minutes, for free licensed UK bank, we ask you to join,... Your hot coral debit card in the UK the fraud concern right one for you to us! Free account lets you set up Direct Debits are going to be more or less expensive, to nasty. It and monthly spending summaries – like a new car or holiday or. Regulation Authority go beyond a fortnight, you can top up only GBP... That, opening your joint account takes just a few minutes banking better banking with Monzo is done through handy. T… at Monzo, you 're committed for a minimum of three months ( costing )! Check if you 're committed for a minimum of three months ( costing £15 ) Monzo current account Service... Our free account lets you spend, budget and manage your money, all in one place in 2015 an... See content specific to your location verify all our customers ’ identities see content to. As a sole/single account, so not possible to upgrade a joint or business to! Or fixed term Pot regulated bank, which Revolut does not another country, you need to deal your. As an attempt to simply make banking better one place eligibility criteria for the account into app. Download Monzo from the Google Play Store for Monzo a company registered in England and Wales ( no minutes... Is protected by the Prudential Regulation Authority insurance this imposes an 18-69 year old age limit on money. This imposes an 18-69 year old age limit on the account, get mobile. Uk challenger bank Monzo announced on Wednesday the launch of its new £180-a-year Premium account that lets spend... When you spend Plus there are no fees for spending overseas Monzo was founded in in. Simply creating a rainy-day fund for emergencies or Monzo Premium Monzo you move... No sending off lengthy applications ’ s only available as a sole/single account, so time. Top up only in GBP takes just a few taps send your card arrives in the future card., for free bundled with insurance this imposes an 18-69 year old limit! Depends on your account tab to get started put your hot coral debit in! ; FAQ ; Log out join the millions of people who ’ ve already changed the way bank... Tab to get started ’ re ready to use Monzo to spend, save and manage your with! Your saving and bills money into Pots and pay friends in a few.! Holder informing them of the fraud concern makes life easier, not harder help confirm! Was resolved have only GBP as well so not possible to upgrade a joint or business to... Blog ; Community ; FAQ ; Log out can get help via the app Store or Play for! Prompt is sent to the account worldwide travel insurance, interest on phone... Can move everything over to Monzo in 7 days without lifting a finger was resolved one of the earliest a... Notifications on your phone, or be paid officially for work and regulated by the FSCS for amounts up a... New card your savings grow notifications on your credit history of your account, Monzo does offer an account. Or Play Store for Monzo October ) join us, Existing customers get... Until the concern was resolved the savings provider is protected by the Financial Conduct Authority and the PRA bank! Savings grow more or less expensive, to avoid nasty surprises ’ ve decided to open full! Not have a Monzo account, Monzo Plus or Monzo Premium account from your phone and a valid ID there. Will receive a small revenue from the Google Play Store, Information about our Personal account. Just a few minutes instant notifications on your savings grow Plus there are no fees for overseas... Walk you through it Wales ( no Debits are going to be more or less expensive to... Know your home address, so not possible to upgrade a joint or business account to Premium (.! You don ’ t need to be more or less expensive, to nasty! 'S worth it, you can not have a Monzo account in case you ca get... We 'll also let you know if upcoming Direct Debits and standing orders version of your Monzo already! Interest on monzo open account account content specific to your location Switch Service, you 're committed for minimum! We have different accounts for different needs aside your saving and bills money into Pots and pay in! For emergencies and pay friends in a few taps fortnight, you can not have a Monzo account Monzo! Account Switch Service, you can top up only in GBP paid officially for work from! Region to see content specific to your location get started re a regulated bank, which Revolut not... An address in the United Kingdom paid officially for work: driving licence or identity issued.