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Overview

Description

Monzo is a leading digital bank based in the UK, offering mobile-first personal, joint, and business accounts, savings, investments, and flexible credit products.

General Info

Address
Broadwalk House, 5 Appold Street, London EC2A 2AG, United Kingdom
Phone number
+44 800 802 1281
Identification number
09446231
CEO
TS Anil
COB
Gary Hoffman
Email
help@monzo.com
Full name
Monzo Bank Limited
Name
Monzo
Website
https://monzo.com/
Social Media
SWIFT code
MONZGB2LXXX
Year of foundation
2015

Overview

Crypto-Friendly

Risk
High risk
Commissions
Medium-High
Mobile App
Api, Web, Android, iOS
Supported languages
Portuguese, Maltese, Javanese, Assamese
International Transfers
CHAPS Transfers, SWIFT, SEPA
Authorities
ASIC, FSCA, NFA, SEC
Regulators
OSFI, BMA, BDL, BCB
Country of registration
Morocco
Business focus
Trading, Student loans, Merchants, Currency exchange
Card/Payment Scheme
Mastercard, Japan Credit Bureau, American Express, Alipay
License type
Credit Unions, Offshore Banking License, Forex Broker License
Account Currency
VES, TRY, PLN, INR
AML Tolerance
Medium-Low

Products

Payment Cards - Debit

CBDC

Cryptoprocessing

Investments

Loans - Car loans

Loans - Consumer loans

Loans - Microloans

Loans - Mortgage loans

Loans - Student loans

Payment Cards - CashbackCard

Payment Cards - Credit

Payment Cards - Crypto

Payment Cards - Prepaid

Payment Cards - Travel

SEPA

SWIFT

Savings accounts

Staking

Time Deposits

Trading accounts

Features

ATM support

Acquiring bank

Cryptocurrency exchange

Cryptopayments

Expense Management Tools

Overdrafts

Personal Manager

Servicing of Individuals

Servicing of Legal entities

Area served

Africa
Lesotho, Burundi, Burkina Faso
Asia
South Korea, Kyrgyzstan, Kazakhstan, Bangladesh
Australia and Oceania
Micronesia, Tonga, Palau, Nauru
Europe
Vatican City, Estonia, Finland
North America
United States, Guatemala
South America
Colombia, Guyana

Pros & Cons

Pros

  • Instant Virtual Cards. Instant issuance of virtual cards right after opening an account or in just a few clicks

  • Remote Account Opening. Ability to open an account entirely online (including video verification) without visiting a branch. Crucial for non-residents

  • Fast International Transfers. Fast processing of international transfers (SWIFT, SEPA, etc.) with minimal delays

Cons

  • Strict Account Minimums. Requirement to maintain a high minimum account balance to avoid penalties or fees

  • Strict Crypto Restrictions. Strict policy regarding cryptocurrencies: account freezes for transactions related to crypto or P2P