Monzo

Monzo: Mobile Banking with Budgeting Insights

Online banking in the UK with current, business, and joint accounts for young adults, along with a user-friendly app featuring budgeting tools.

What is Monzo?

Monzo is an online and app-based bank founded in 2015 and headquartered in London, England. It offers current accounts to consumers and business accounts tailored for small businesses, sole traders, contractors, freelancers and limited companies.

Unlike traditional banks, Monzo does not have any physical bank branches. All banking is done through the Monzo mobile app or web application. Account holders are issued a bright coral debit Mastercard card which works internationally. You can make payments or withdraw cash anywhere that accepts Mastercard.

Monzo current accounts come with features such as:

• Real-time spending notifications and weekly budgeting/spending reports
• Ability to create different saving pots from your salary for holidays, bills etc
• Early salary payments and overdraft options
• Fee-free overseas spending and ATM withdrawals (up to £200 a month), plus minimal fees after that threshold
• Easy switching from another bank and shuttering of the old account

In short, Monzo offers a fully-featured bank account that helps you track and manage your money through an intuitive app-based interface. The information and budgets it provides can assist users in better controlling their finances.

Monzo Features

Official Links