Monzo bank review: 4/5

Everything you need to know about Monzo Bank

With 7.5 million customers and counting, Monzo’s popularity has swept across the UK as customers flock to get their hands on its hot-coral card. The digital bank led the way with a variety of features to help customers manage their money from the comfort of their phones. 

From spending insights and overdrafts to opening a savings pot, you can handle most aspects of your finances from the Monzo app. This review focuses on Monzo’s standard free-to-use current account rather than the paid-for options.

Find out how Monzo works and whether it’s worth getting an account.

Our take on the Monzo current account

Our score: 4/5

We like Monzo’s current account, and it feels like it’s always launching new features.

Our ratings

App rating4.5/5
Current account rating3.5/5
Rewards rating2/5

Customer score: 4.93/5

Average customer score from reviews left on Smart Money People

What is Monzo?

Monzo is a digital bank that is operated entirely through its smartphone app. It started its days back in 2016 as a prepaid card, but Monzo is now a fully-fledged bank with millions of customers across the UK.

Monzo has upgraded its features over time, and now offers several types of current account and other services like borrowing, savings and even investing products to help you manage your money. We’ll be putting our focus solely into its free standard current account for this review, though we also have reviews of its Plus and Premium accounts.

Types of Monzo account

Monzo’s expanded its offering over time, so it currently offers six different types of account. 

Monzo app: 4.5/5

One of the reasons Monzo is as popular as it is is the app. This is where you manage your Monzo account as there aren’t any branches. 

Design and customisation

The design of the Monzo app has been through a few iterations over the years, with the latest one a major update to the home screen design. 

A big part of this is customisation, so you can choose what you see and where. Straight away it makes it a lot easier to see your main Monzo account, and access key features such as your card and get statements. 

Above this you’ll see selected insights into your spending, while Pots can also be reordered and customised, giving you the choice between the “classic look” (with pictures) or a list.

You still have the Trends, Payments and Help tabs at the bottom of the screen to quickly jump between these sections. You’ll find more settings by hitting your initials (or a photo if you’ve set this up) in the top left corner.

Categorisation and notifications

When you make a payment, you receive a notification about the transaction, along with how much you’ve spent that day. The transaction is also automatically assigned to a category. With the standard account, you’re limited to a set number of categories, but they pretty much have all the ones you’d want, including groceries, shopping and bills. 

It’s easy to change the category of a transaction, and when you do, it offers to change similar past and future transactions in one go, so you don’t have to manually change several transactions in a row. 

You can also add tags and additional notes to your transactions to help sort your payments – this is particularly helpful in the joint account to better communicate a transaction. 

Budgeting features

One of the big benefits of Monzo is that it helps you budget effectively. Although, if you really want to get into the nitty gritty then you might be better off with a third-party budgeting app.

Monzo offers “Monzo Trends”, which gives you an overview of your finances in the app, both on the home screen and in a separate tab. 

Here, you can see your individual and combined balances across your different Monzo accounts and any Pots you’ve set up and track your spending and see how much you’ve paid for different categories of expenses. 

For example, it’ll show how much you’ve spent on things like transport, entertainment or groceries to name a few. It also lets you compare your spending insights month on month to highlight any changes.

You can set targets for your spending each month — this can be broken down into specific categories as well. This will then show you how much you have left to spend of your overall budget (and for each category if you’ve set specific targets for those).  

In addition, you can create up to 20 Monzo Pots. These can be used for different expenses, such as bills, food, and nights out. This is very similar to the “jam jar” or envelope budgeting method.

You’re also able to see a list of all of your regular outgoings each month including bills and subscriptions. 

More on Monzo Pots

Monzo Pots can be customised with pictures and bespoke titles.

These do not have their own sort codes and account numbers so you’ll mostly need to manually transfer cash into them, however, you can set Direct Debits to come out of specific pots – handy for allocating cash each month for things like bills. If there’s not enough in a pot, Monzo will pull cash from your main account — so you don’t have to worry about a transaction declining if you’re a little disorganised.

Monzo’s auto-savings feature allows you to round up your payments on the card to the nearest pound and it puts the extra money into a pot for you. This can build up to a nice chunk of change over time!

You can connect to a service called IFTTT (If This, Then That) to trigger auto savings. This can be anything from the 1p savings challenge through to moving money when an event happens such as rain. It’s a unique feature which might make it easier to add to your savings without any effort.


The Monzo app is secured with biometrics or a passcode. You can also be emailed a “magic link” to log in. 

You can use Monzo with a great deal of apps that let you connect your account via Open Banking, including Cheddar, Emma, Plum and Airtime Rewards.

In addition, you can use IFTTT, which we touched on earlier. This can be used for auto-savings, but there are actually a fair few different things possible with this, from ridiculous (saving money whenever you Tweet) to sensible (putting your transactions into a spreadsheet or taxing yourself when you get a takeaway). 

These are, realistically, a bit of fun, but they could help you save money in alternate ways, like doing more steps – yep, you can connect it to Fitbit. You can even connect it to your Octopus Energy account and put away money when you save on energy. 

You can pay with Apple Pay and Google Pay, as well as using a smart watch like a Fitbit or Samsung Watch.

Card controls and virtual cards

You can decide if you want a lower cap for contactless spending, set by default at £100 for single taps and £200 cumulative before you need to enter the PIN. You can also block transactions to gambling websites and services through the app.

Monzo allows you to check your PIN and debit card details, including the CVC, in the app. You can also copy these to paste elsewhere, though I find this doesn’t always work. 

If you think you’ve lost your card, you can freeze it in the app to stop payments from going through until you find it.

Virtual cards are limited to the Premium account holders. If you think you’d like an account that offers virtual cards, Starling might be a good option.

Sending and receiving money in the Monzo app

If you need to send or receive money, you have a few different options.

Firstly, you can easily share your account number and sort code via messenger, email and other apps. It preps a message for you with all the details, so you don’t have to go back and forth. 

If you’re requesting money from people, you can send them a QR code or create a unique link in the app for people to pay you back. You can choose the amount you’re asking for, too. You can use this to pay people, too.

How to find your link

It’s a little tricky to remember where this is in the app if you don’t use it regularly. Go to the Payments tab at the bottom of the app, then click the QR code icon at the top of the screen. You’ll then find a “Share link instead” button on this page. You can also access it from the “Request money” selection. 

If you have friends on Monzo, you can split bills and payments in the app by selecting “Split bill” from the transaction. You can find people with Monzo accounts nearby if you’ve got Bluetooth turned on, too. Great when you’ve just had dinner with your friends and don’t want to faff with entering bank details. 

If you’re regularly splitting bills with the same people, such as your partner, you can also set up a shared tab. This is similar to what Kroo offers, as it lets multiple people assign transactions and choose how to split the payments, and then it works out who owes who what when you choose to settle up.  

What happens to my Monzo account if I lose my phone?

If your phone is lost or stolen, you can freeze your account to prevent any payments or transactions from being made.You’ll just need to log into Monzo’s emergency webpage to activate the freeze. It’s a really basic version of Monzo that only allows you to see your accounts, check your balance, view recent payments from the last 90 days and freeze or unfreeze your card.

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Monzo current account: 3.5/5

As a current account, Monzo is pretty decent, scoring 3.5/5 in our analysis. It’s a good choice for using abroad, although other accounts definitely trump it, certainly for longer holidays. 

Account basics

You get Monzo’s classic hot coral card with the account, although there have been promotions that can get you another colour when you refer friends. The card is sent out for free and you can get a replacement for free if you lose it. 

In addition, you can start using the card before it even arrives by setting it up with Google Pay and Apple Pay.

You’re also able to set up or amend standing orders or direct debits directly from the app. 

To pay in cash, you need to deposit it at a PayPoint. Monzo charges a £1 fee for making the deposit. You can deposit £5 to £300 at one time, and can pay in a maximum of £1,000 every 180 days. It appears in your account within ten minutes. 

You can pay in cheques with your Monzo app, too. These previously had to be posted, but you can now pay in a cheque up to the value of £500 using your phone’s camera.  

There’s a £10,000 daily transfer limit to UK bank accounts. This is lower than most banks typically offer, with Chase offering £25,000 and Revolut letting you transfer £50,000 per day. Starling is higher than this, at £1m. 

Unlike most other banks, there’s a limit to the amount of cash you can withdraw — you can take out up to £400 every 30 days in the UK (after that a 3% fee applies). However, if you’re using Monzo as your main bank there are no limits at home or in the EU.

How to make Monzo your main bank

If you want to lift some of the limits with the free Monzo account you need to do one of the following:

  • Pay in £500 and have one active direct debit in a rolling 35 day period 
  • Have a student loan payment made into your account in the last rolling 8 month period
  • Received a DWP payment in the last rolling 35 day period
  • Have a joint account with someone who’s met one of the above conditions

You can switch your bank account to Monzo using the Current Account Switching Service (CASS). This is likely to satisfy at least one of these points by default. 

Can I use Monzo abroad?

Monzo is a fairly decent account to use abroad. You can spend fee-free all around the world, and if you have it as a “main account”, then there’s no cap on cash withdrawals in Europe either.

However, if not, then you can only withdraw up to £400 for free per month in EEA countries. All users are capped at £200 of withdrawals in non-EEA countries. If you go over these limits a 3% fee applies.  

This isn’t the best account on the market — Chase offers fee-free spending and withdrawals and 1% cashback on your spending. Check out our roundup of the best debit and credit cards to use abroad for more. 

Monzo account fees

Although Monzo’s standard account is free to use, the following fees may kick in for certain payments or services: 

  • Cash withdrawals in the UK:  Monzo charges 3% on cash withdrawals over £400 in a 30-day period in the UK. 
  • Cash withdrawals abroad: A 3% charge applies to withdrawals over £400 in EEA countries and £200 in countries outside of the EEA. 
  • Cash deposits: You’ll have to pay £1 per cash deposit into your Monzo account
  • Card replacements: Monzo charges £5 for card replacements unless you meet the criteria for 2 free cards per year, your card expires, is stolen or you’re the victim of fraud. 

You get free card replacements if you use Monzo as “more of a bank”. Monzo doesn’t exactly explain how they decide this, but it’s likely to be regular money in and out of the account. You’ll get two replacements per year per account. 

Monzo overdraft

Monzo offers an overdraft on its account. Depending on your credit score, this could be 19%, 29% or 39% to use it. These rates are lower than most other banks, but it’s still an expensive way to borrow and there are better options.

You can borrow up to £2,000, though Monzo chooses this based on your credit score and current borrowing. 

Monzo keeps a tally of how much your overdraft will cost you each month based on the amount you have overdrawn and for how long. This stays at the top of your account, so you can keep tabs on the cost. 

Other things you can do with the Monzo current account

Monzo has a few additional features, including a salary sorter, loans, credit cards and a teen account. Here are the details.

Salary sorter

This feature splits your salary across different pots, such as money for spending, bills and savings. It works for any sums over £100 coming into your account with one of the below payment types. You can choose your sorting settings within 72 hours of money entering the account.  

Eligible payment types include:

  • Bank Transfers
  • BACS
  • Cash Deposits
  • Cheques 
  • Peer to peer

Get paid early

If your salary is paid into Monzo, you can be paid the money at 4pm the day before. This is for BACS payments up to £20,000. This is simply Monzo clocking that money is due to enter your account and passing it over a day early. It isn’t considered to be borrowing, so it won’t impact your credit score.

16-17 account

Younger students aged 16-17 can apply for a Monzo account as well. The Monzo 16-17 account works in the same way as the standard one, except there are spending blocks built into the account for age-restricted things like gambling. 

Mortgage tracker

You can connect your mortgage to the Monzo app and track your payment progress, explore overpayments and get more insights. Though, how useful this will be is questionable.

Loans and credit cards

Monzo offers loans of up to £25,000 for eligible account holders. It also offers Monzo Flex, which is basically a credit card with Buy Now, Pay Later (BNPL). You can split the cost of your purchases into instalments over three, six or twelve months with this.  

Monzo rewards: 2/5 

Monzo’s not offered much in the rewards space during its time, but it’s slowly improving this. 

Savings rates with Monzo

To save money with Monzo, you can make use of the Pots feature to separate money from your main account. However, to earn interest on this money you’ll need to open a specific savings pot. This pays 4.1% at the moment, though there’s an account at 4.68% via Shawbrook too. Both can be beaten with other savings accounts

Monzo switch and referral offers

Monzo doesn’t offer any switching deals currently, though you can still switch as you would to any other bank using the Current Account Switch Service (CASS).

We have a round-up of the best bank switching deals which will tell you which providers are offering top-paying welcome bonuses, cashback and rewards if you switch to them.  

You can get £5 for you and a friend if you refer a friend.

Cashback with Monzo

Monzo launched cashback in late 2023.

You can’t earn cashback on all of your spending, as Chase offers. Instead, Monzo has a list of participating retailers, where you can earn cashback on your spending. These change fairly often, with Monzo notifying you each week of your cashback offers. At the time of writing, I can get 3% cashback at Sainsbury’s, 5% from Just Eat and 10% from Krispy Kreme. 

These need to be loaded before you can use them, and cashback will go into a separate pot, so you can keep track of what you’ve earned. We’ve written a full guide on how it works. 

How to apply for a Monzo account

You can apply for a Monzo account for free, here’s how:

  1. Download the app: Click this link or simply search “Monzo’” in the App Store or Google Play, then hit download. It’s worth seeing if any friends already use Monzo as you might be able to get a £5 referral link to use when joining.
  2. Personal details: You’ll fill in the first section of the application with personal details such as your name, home address, employment status and phone number.
  3. ID checks: Monzo will then verify your ID by asking you to snap a picture of your ID. You can use your passport, driving licence, national ID card or biometric residency permit. Then record a selfie video. 
  4. Choose your account: Once your ID is confirmed you can choose your Monzo account and card. 
  5. Activate your card: You’ll need to activate your card in the Monzo app to start using it. (It usually takes a couple of days for it to arrive at your home address). 

Will there be a hard credit check when you apply?

Monzo is one of the few UK current accounts that doesn’t perform a hard search on your credit report when you apply – as long as you don’t apply for any borrowing such as an overdraft or Monzo Flex. 

This means it can be a good “dummy” current account for bank switching. Though be aware that if you switch away you’ll have to wait at least 30-days to open another – and there’s no guarantee they’ll offer you one.

Is Monzo safe?

Monzo is a fully-fledged bank and is regulated by the Financial Conduct Authority (FCA). That means that it’s legally required to treat customers fairly and protect their funds. 

Up to £85,000 of the money held in your Monzo is protected by something called the Financial Services Compensation Scheme (FSCS). 

This basically means that if Monzo goes bust, you’ll be able to get up to £85,000 money back. 

However, if you add money to some linked savings accounts (though not all), they may held with other banks. It’ll be clear who this is (if it’s not Monzo) when you open that savings pot.

What is the FSCS scheme?

FSCS protects up to £85,000 of your money held in banks regulated by the FCA. It’s important to note that the protection applies to a banking licence and multiple banks can be held under each one licence. 

So, let’s say you have three current accounts with different banks under the same licence – e.g. Lloyds, Halifax and Bank of Scotland, that means the £85,000 coverage would be split across all three, rather than applying to each account. Here’s more.

Will Monzo close my account?

There are often reports of Monzo closing or freezing bank accounts – there’s even a Facebook group devoted to impacted customers. And they’re not the only bank to come under fire for this, NatWest, Barclays, Monese and Revolut have also hit headlines for bank account closures too. 

Ultimately, as with all banks, Monzo has the power to freeze, block or close your account to protect other customers. 

Some of the reasons why they might close your account include: 

  • Unusual activity:  If they suspect your account is being used for criminal activity it may be blocked or closed. (This includes if their fraud systems pick up that someone else might have access to your account to protect your money from being stolen.)
  • Risky customers: Any account holders that are flagged as a risk to Monzo or other customers may have their accounts closed. 
  • Police instruction: Monzo will close your account if they’re asked to by the police as part of a financial crime investigation. 

We don’t think it should be something to worry about over other banks. Monzo argues they might appear to close more accounts, but that’s because their technology means they’re better equipped to spot dodgy behaviour. 

However, they won’t always get this right. So if you are affected, then contact the Financial Ombudsman.

Monzo Smart Money People rating

Customers have rated Monzo 4.93/5 over at Smart Money People

Positive reviews of Monzo’s standard current account highlighted the ease of use, app features and savings pots. 

Negative reviews of Monzo’s standard current account had issues contacting customer service and getting their queries resolved. 

How to get help with Monzo

Monzo is a completely digital bank and doesn’t have any physical branches for you to visit. So, most of the customer service is managed within the app. 

You can get in touch with Monzo’s customer services team 24/7 with urgent queries by tapping the “help” tab and starting a chat (at least you should be able to – check out the next box if it doesn’t appear for you).

Why isn’t the chat function showing in Monzo?

Though some Monzo customers will be able to easily click to chat with Monzo, some users won’t find this option (including our Editor Andy). Luckily we’ve uncovered a workaround. 

On the Help tab, type “Contact support” in the search box, and it’ll pull up a page where you can open up a chat via a link called “Tap here to get started”. 

You’ll see some preset options, and even if these don’t relate to your query you can keep answering questions until you’re shown the option of “ I need to chat with someone”

Monzo also offers customer support via call between 7am and 8pm. You can call for free on 0800 802 1281 if you’re in the UK or +44 20 3872 0620 if you’re calling from abroad. 

There are some things Monzo can’t help with over the phone though. This includes sharing account information and updating your mobile number or email address registered to your account. (You can update these in the settings on your app).

Pros and cons of Monzo


  • Simple to set up and use
  • Lots of budgeting features and some spending insights
  • Fee-free spending abroad
  • Automated savings including round ups and your own scheduled savings pots
  • Ability to combine with IFTTT to boost savings
  • Potentially lower cost overdrafts
  • FCA-regulated and FSCS protection
  • No credit checks unless you apply for an overdraft


  • 3% charges on cash withdrawals over the free allowance in the UK and abroad if it’s not your “main account”
  • No bank branches or face-to-face customer support
  • £1 fee for each cash deposit you make (and you can only deposit £1,000 every 6 months) 
  • You have to pay for full functionality
  • No virtual cards on the free account
  • No bank switching offers 

Summary: Is Monzo any good? 

Beyond the fandom, Monzo’s standard current account is a decent all-rounder for spending and budgeting. 

The redesign is a return to a more intuitive experience, and it still offers lots of features that help you get to grips with managing your money, setting budgets and saving too.

Little things like being able to view your debit card number or PIN make paying so much simpler as well (though of course, many others offer this too).

Overall, if you’re looking for an easy way to budget and manage your everyday spending, it’s worth giving Monzo a look – as long as you’re comfortable with a fully digital banking experience.

However, we think there are better options, which we’ve listed below.

Alternatives to Monzo

For an everyday banking experience, Starling still has the edge in our opinion. Plus there are no limits on cash withdrawals and the ability to use the Post Office for cash.

Chase is also very easy to use but comes with the added bonus of 1% cashback at home and abroad. 

Alternatively, you could look at a reward based account from more established banks that have much-improved apps as well as access to high street branches (as long as they’ve not been shut down). Freebies include free Disney+ from Club Lloyds or £5 a month from Halifax Rewards

And, when it comes to saving, you’re probably better off automating the money you’d like to set aside to go to an account with another provider. This means that you’ll be able to take advantage of the best savings rates out there. 

20 thoughts on “Monzo bank review: 4/5

  1. I paid a supplier of mine by backs but by mistake I used one wrong digit resulting in money ending up into another account at as my suppliers branch. Despite the branch was not helping my supplier in recovering the money back.

  2. I’ve been using Monzo since 1st July 2017. (I love how quickly you can scroll down 5 years of transactions on the app!)
    It suits me perfectly because I am a resident in 2 countries and I have stopped worrying about transaction fees and awful exchange rates.
    However its still not my “main” current account where I receive my salary and pay my house bills from. Its more of a back up and for casual / play / risky online spending, so if the card does get copied/stolen then there is a cap on how much can be stolen.
    It will never be my main account, especially as I’ve heard so many people being locked out of their accounts after a review. Now I hear about the “material uncertainty” even more so..
    Its quite useful for the modern office whip-around, you can just share a link to collect funds and ring fence the amount in a pot.

  3. Hi i am soon to be a pensioner and my daughter has suggested getting this card to make it a bit easier to budget for bills.Would i be eligible?

  4. I have been a Monzo account holder for a couple of years and everything had been fine until june 22 when monzo decided they would review my account this took place through the night so you can imagine my surprise when i woke the following morning to find i could not use my account. i immeadiatly called customer services and was told it would 24 hours the following day i could still not access my account infact for the next five days no access to my account i work part time and in recept of a benefit which is payed into my account my wife is disabled and receives disability benefit also paid into the account i payed cheques into the account amounting to £850.00 no signs of them on my account only a continual block on my account after numerous calls to customer services i was told they can only esculate my complaint to the relevent department customer services is useless and you dont have control of your account i dont feel assured as i was with the bank very dissapointed.

  5. We have been using Monzo since 2018 we just love it we regularly use it abroad with no issues or charges and get the best conversion rates, splitting the bill is a favourite feature of ours and we use it slot when out and about with friends who are also big Monzo fans.
    If you haven’t got one your missing out.
    That’s are lots of other features we love too.

  6. I’d think carefully before joining Monzo. It’s become muddled with the different options available and the community website it prides itself on has become toxic. I was a customer for three and a half years before I decamped to Starling, as it became apparent that I wasn’t really its core customer (I’m 40), except I made the mistake of investing in them and have lost nearly £100 (thankfully not more). Starling might not be as flashy but has so far provided a much better customer experience overall so far.

  7. It’s been brilliant for me so far. I joined Monzo after doing some research to find the best way of spending money abroad. My old bank would charge me extra fees for using my card, using ATMs and then even give me their own exchange rate which was far poorer than the actual one from Visa/Mastercard. Monzo is a far better alternative as they don’t charge these fees and give you the actual exchange rate i.e. the one you find on Google.

  8. Main pros for me with Monzo are:

    Savings pots with interest over £1000,

    Pots which you can move money out of your main/ current account and set money aside, with savings goals too,

    real time spending which comes through as a notification as soon as the payment is processed,

    Set budgets where you can monitor commited spending (bills) and other budgets which fall into 12 other categories.

    Set your payday and it estimates out how much money you should have left based on scheduled payments and budgets set

    You earn £5 upon signing up if using the following code:

  9. I really recommend Monzo.

    I think it’s the best current account and use it for all my banking now.

  10. I’ve been using monzo for about a year and a half now and I can honestly say, I’ve loved using it.

    Initially, I liked the fact that you it could help you budget, as that is something I have struggled with in the past.

    The app itself is easy to use and navigate around and allows you to easily see where and what your spending your money on.

    Their customer service is also very good.

    Over the last few months I’ve also been using their current account. Essentially it’s the same, but you can get your salary paid into it and set up direct debits.
    I intended on using these features but unfortunately I was made redundant at the beginning of the month so I have nothing to get paid into my account.

    Overall tho, over the last 18 months I’ve seen a decline in how much I use my Barclays account (including my Bpay contactless wristband)

  11. Hi
    It took me 2 weeks to receive the card. They have full control over your money. They do whatever they want with the money you have on your account. They have closed and cancelled my account without any reason or even letting me know in advance. Their customer service is poor! I had money transfered to the account and they had transfered all the money back; that left me in massive trouble. And all these without warning or any information!
    Would not recomment monzo to anyone!!!!!!!

    1. Monzo has lost all my trust I’ve been waiting for 1 year, my card information has been stolen, I can’t access the application. Someone else is using it. Even though I reported that someone else is using it, the Monzo hotline asked for a photo with ID information, I took a video, I did everything, I couldn’t use my account. It saddens me to use such an irrelevant card to their customers. I have the card with me but I can’t use it, it’s ridiculous

  12. They ask for all you bank details before telling you that you need photo ID. It is hit and miss where you can use it and it will be accepted. It was quicker opening a Nationwide current account on line (10 mins) I am told they will be phasing these accounts by next year anyway!

  13. What, M, don’t state you’re quoting his article (assuming that’s what ‘qt’ means) and then write your own paraphrase of his words! That’s far more misleading than even you try to make the author out to be!

    In any case, in my opinion the article is written informatively and doesn’t just ‘make an impression’ of being balanced. But that’s just my opinion; you’re entitled to yours of course but don’t accuse someone of being incompetent and then be misleading yourself.


  14. Hi how long does it take for the Monzo card to arrive in the post once you have topped the waiting que on the App.

    1. I got my card in about three working days I think, though I can’t guarantee it!

  15. We have been using mono for over a year now and absolutely love it! We have used it abroad several times and never had any issues and always got the best rates!

  16. I love the Monzo card. Global citizen here and I find myself ordering things online in different currencies wherever I go as well as purchasing services/essentials/gifts for my global family quite often. Monzo has saved me an enormous amount of money! I can’t believe it. I used to loose so much in transaction fees or physical currency exchange or have to keep up with all my bank accounts all over the world. Now I don’t bat an eyelid. Just used Monzo in UK, Bali, Marrakech, Bangladesh, Singapore and the USA and it was great! Can’t wait for the current account and a real card (not pre-paid) as I could not add Monzo to my paypal or hotels don’t accept it as a ‘deposit’ credit card when checking in. Cards like Monzo are the future. High street banks better pay attention… all those transaction fees are not going to help you one bit with the youth that now live and work all over the world. I think its only available in the UK since family and friends in the US could not sign up for it using a US address. I’ve recommended it to others who have signed up and are raving about how much we are now saving 🙂 Monzo is definitely for the global citizen!

    1. Yeah my colleague at work is often in France and Belgium visiting family so it makes his life so much easier! Interesting to hear about the hotels not accepting it. I had written a section about this (and car hire) but it seemed to work for some people so I removed it before publishing.

  17. Hi M, this review is for people who don’t have Monzo or even heard of it (which is a lot of people) so its focus is on the basic things. Really interested to hear about the other things you’ve picked up as a longer term user though. What’s not worked for you?


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