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I’ll be honest! I opened an account with Monese because they had a lovely little sign-up bonus running at the time. That’s since changed (although there is still a bonus), but there are plenty of reasons to stay with Monese.
Let me talk you through the reasons why signing up with Monese is a great idea and what you stand to gain.
Monese is one of many mobile online bank accounts. Download an app on to your phone and you’ll manage your accounts from there.
You’ll be able to do all the things you can do with any other bank account, like pay in money or withdraw it from a cash point. You’ll get a card and you’ll be able to use this to spend in shops and restaurants or wherever you like really.
Unlike other banks, your financial history doesn’t really matter with Monese. If you are 18 or older and living in the UK or one of these countries then you’ll be able to open an account.
There are no overdraft facilities available with Monese at the moment. This means that they are a perfect choice for anyone wanting to take control of their money without the temptation of debt.
Well, technically they are not the same as a bank. Banks take your money and invest it. Monese is more of a prepaid gift card that you can use in any shop.
This is why you can’t have an overdraft and is also why your money is 100% protected. It also means that they require fewer checks when opening the account so are a good choice for people who might struggle with a traditional bank.
Yes! Monese does offer some paid-for services which you can get if you are willing to pay a monthly fee. However, a basic package is available free of charge.
The app is packed with great features to help make managing your money simple:
You all know that I love a refer a friend scheme and Monese have one of the best. Once you have signed up then you can earn up to £20 for each friend you recruit.
Through the app, you can open the “Earn” section to receive your referral code and full details of the offer available.
You will receive a payment when your friends make their first card payment and another payment when they spend a set amount of money on their card. (Check your app for your offer.)
Disclaimer: Remember the information you read here does not represent advice. Any ideas or suggestions are just that and may not work for you. Read the full disclaimer here.
Looking After Your Pennies is an eco-friendly personal finance blog written and managed by Charlotte Jessop.
I write on a variety of topics including frugal lifestyle, eco-friendly living, money making ideas and generally how to make your money go further.
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