A UK digital bank focused on consumer banking services, known for its coral debit cards.
Frequently Asked Questions
Where is Monzo located?
Monzo is located in London, United Kingdom.
What industries does Monzo operate in?
Monzo operates in the following industries: fintech, digital banking, banking.
Who are the founders of Monzo?
The founders of Monzo are: Tom Blomfield, Jonathan Fense.
What is Monzo?
Monzo is a digital bank based in the UK that allows customers to manage their finances entirely through a mobile app without physical branches.
Is Monzo a safe and regulated bank?
Yes, Monzo is a fully authorized UK bank regulated by the Financial Conduct Authority and the Prudential Regulation Authority, meaning eligible deposits are protected by the Financial Services Compensation Scheme up to eighty-five thousand pounds.
How do I open a Monzo account?
To open an account, you must be a UK resident over the age of eighteen, download the mobile application, and provide a valid form of identification along with a short selfie video for verification.
Can I use Monzo while traveling abroad?
Yes, you can use your card anywhere in the world that accepts Mastercard, and the bank does not charge any additional fees for spending in foreign currencies at the checkout.
Does Monzo support joint accounts?
Yes, if both individuals already have personal accounts, they can apply for a joint account to manage shared expenses and bills together.
What are the fees for using a Monzo card?
The standard personal account has no monthly fee, and most everyday banking tasks like local transfers and card payments are free, though there may be limits on fee-free cash withdrawals depending on your account tier.