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Looking for a fully online service that offers the function and purpose of traditional banking? Try an account in Monese! This UK-founded company allows clients to open current accounts (and even send money!) on-the-go. Although the app has only been released to the public in 2015, the company grew and their mobile service is now available across 31 countries in Europe.

Is Monese Card the Right Card for you?

Whether you are a UK Citizen or not, the Monese Card will allow you to register even if you do not have a permanent UK address.

If you’re a person in Europe who is always traveling or would want to open an account, this is a great app for you. Monese is unique as it allows users to open an account anywhere within the European Economic Area.

This is great for people who wish to open a fully mobile account without worrying about credit history, UK address, or fixed-income documentation.

How Does the Monese Card Work (or Not)

To those familiar with traditional banking, Monese works in a similar structure but in a more streamlined manner. The interface is designed to showcase various tabs on your account to make it easy to see how the features operate.

These tabs include the debit card, support tab for customer service, “My Plan” wherein you can see the option for a free account or the paid one, direct debits, “Add Eurozone account” which allows you to switch between UK or European accounts, and finally the “Invite and Earn” tab where every friend you invite earns you £15 once they deposit!

Main Difference between the Monese Card vs. Bank Debit Card

The Monese Card has the essential features of the bank debit card as it allows you to deposit or transfer money as needed. One of the main differences Is that you can open this account easily while bank debit cards may need various identification or financial records in order for you to open one.

Since Monese is completely online, it also does not have the physical branches that banks usually has.

At the same time, any amount deposited in a Monese account does not grow interest while in the bank account, it may grow a minimal rate.

How to Get a Monese Card

Another good thing about Monese is its Contactless Card.

Just like how easy it is to open a Monese account, it is also easy to get this Monese Card.

1. First off, you need to sign up for an account using the Monese website or app.
2. The application allows users to connect their account with other online money transfer sites like Paypal, too!
3. Ready for a contactless card? Apply then bring your account with you wherever you go. The card delivery fee is £4.95.
4. Activate the Monese Card
5. Use it when you travel and transact all over Europe!

Just note that you should keep your Monese UK account active when using services like Direct Debit Transactions to keep future transfers from being rejected.

Monese Card Countries

Here are countries where you can use your Monese Card: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Lithuania, Liechtenstein, Latvia, Luxembourg, Malta, Norway, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, the UK

The app is also available in languages  such as English, French, Spanish, Dutch, Italian, Portuguese, Belgian, Romanian, Polish, Czech, Turkish, Lithuanian.

Monese Card Fees and Limits

The Monese Card charges 0% on the first €200 transaction every month. Any future transaction afterwards will incur 2% rate.

The Simple (free) account can conduct payments free of charge with every £2,000 per month. Withdrawal fee is also free up to £200 a month. When you transfer, there's also a 2% fee but it is free of the transaction is between Monese accounts. Paid accounts have higher transaction limits on how much fee is charged.

As for the withdrawal limit, you can withdraw multiple times but the amount limit is £300 per day.

Final Verdict

Monese is one of the commonly used travel cards in Europe. It is also among the most trusted ones, having grown its brand and credibility just a few years since its launch.

It is still a better alternative than using your traditional debit card when traveling or paying abroad as the latter may incur a bigger price tag in terms of currency conversion fees and cost per transaction.

For people looking into a reliable first travel card, Monese Card is a great choice. Once you explore the essentials of Monese, you can also try other services that have lesser fees and or offer more flexible rates or fees when you need the account for various currencies.