As you are reading this article I’m going to go out on a limb and say you probably know a little bit about Monese already. You probably know that with Monese you can open a UK current account using our award-winning mobile app, without needing to have a UK address, in as little as 120 seconds. You probably also know that with us there are no long forms to fill out, no need to provide several months worth of documentation to prove your address (say goodbye to tracking down paper utility bills!) and we don’t need to know about your credit history either.
So far so good, you’ve got the basics covered; but what else do we have to offer? What makes us so great? Well, whilst we are not usually the boasting type, our banking accounts are pretty awesome – and we can prove it! First – watch this:
We know what you need…
And we have it covered. We are more than just a pre-paid card. Unlike other services, a Monese account can be your main account. This is because, although we are not a traditional bank, we offer all of the key services that you need to manage your finances day to day.
- Receiving your salary payments direct into your account
- A contactless Visa card
- Depositing cash straight into your account (in the UK)
- Sending money quickly and easily (in multiple currencies)
- Paying bills via bank transfers
- Managing your money day to day
We’re more affordable than a bank
Yep, it’s true. You probably think that traditional bank accounts are free – but in fact, you are paying for your account. Traditional banks often come with hidden charges and fees that make the cost of having an account much higher than they say, and actually ‘banks make billions of pounds in revenues from providing “free” current accounts’, because of these charges. Monese wants to change this – we have no hidden charges or fees and over the course of a year our account is up to 5x cheaper* than traditional bank accounts! We also know that our customers need to be able to send money abroad, that’s why when you send money with Monese it’s up to 8x cheaper than sending via a traditional bank. How is that possible? Well, it’s because we give you the real wholesale exchange rate and only charge 0.5% of the transaction value.
We are safe
Monese takes security extremely seriously. You should know that when you have a Monese account your money is secure. Monese is registered by the UK Financial Conduct Authority (also known as the FCA) and your deposits are ringfenced – meaning they are safeguarded against losses and we will never reinvest your money. Your personal data is also highly protected. We employ the latest standards in financial security and our systems are protected 24/7.
We’re award winners too!
Monese is known for spearheading the movement for financial inclusion and for innovating in the fintech landscape. We have always pushed to deliver better banking solutions for everyone. In doing this we have been officially recognised for our work. We’ve won:
- Best-Challenger Bank – European Fintech Awards 2016
- Research and Innovation Award – Horizon2020 2016
- Best Consumer Payments Programme – Emerging Payments Awards 2016
- Financial Inclusion Programme of the Year – Visa Europe Summit 2016
Since then we have also closed our latest funding round, having raised $10million! This will enable us to develop and offer more services and expand further into Europe. 2017 will be a great year for Monese and we’d love to have you on board! To find out how to get your account read this now!