What is Monese?
Monese is an online banking and money transfer service founded in 2015 and based in the UK. It aims to provide banking services to expats and immigrants living abroad who may not have easy access to traditional banks.
A key benefit of Monese is the ability to open a UK or Euro current account easily online, without requiring proof of address or credit checks. This helps serve customers who lack traditional address documentation.
Once an account is opened, Monese provides functionality like a debit card for payments and ATM access, money transfers through the mobile app, as well as budgeting features and spending notifications. It uses both online and mobile channels.
Monese also offers competitive currency exchange rates on international money transfers. Its money transfer functionality facilitates cheap and fast transfers across Europe and to many countries globally.
Overall, Monese intends to provide a modern banking solution for globally mobile customers or expats who struggle with limitations of traditional banks. The easy signup and money transfers make it convenient for sending money internationally.