"Built for your smartphone, this is banking like never before. One that updates your balance instantly, gives intelligent notifications, and is easy to use."
In its own words Monzo says it's: "focused on building the best current account in the world and ultimately working with a range of other providers so that Monzo can be an intelligent hub for your entire financial life."
The app will instantly update your balance, provide handy notifications and display a neat visual way of seeing where you spend your money. You can also use the app to freeze the card if it's lost or stolen. The card won't be blocked if you go abroad, plus there are no fees or charges when using the Monzo card outside the UK.
I've been using it for a couple of days now and it's brilliant so I thought I'd spread the word!
EDIT: Yes there are similar cards for spending money abroad with no fees, but the emphasis with this is the features when using it within the UK.
Never heard of Revolut, but it looks similar yeah. Not sure about Revolut but Monzo is an actual bank, so they will be able to offer full banking services and current accounts at some point.
panddda to cameronswift
8 Oct 16#33
I've been using Monzo (Mondo) for a few months (iOS) as we travel abroad a fair bit.
Loving it.
No foreign exchange fees, and no charge to withdraw cash from ATMs, so rather than travel money before we go and getting a cruddy rate, I just go to the first ATM at the airport on arrival now and draw out however much I want.
The app works brilliantly on the iphone, I guess they'll have tested the android version well but there will undoubtedly be a few bugs at first. It's really useful - before I've even been told to remove my card, my phone has already pinged to tell me how much I've just spent.
I'll definitely be getting a full current account from them next year when they start offering them.
ScarboroughKID
7 Oct 16#4
Been looking at this for a while so interested to hear people's thoughts
tek-monkey
7 Oct 161#6
I used revolut earlier this year, they give interbank exchange rate and no fees while abroad. This looks similar, but with a focus on spend tracking rather than currency conversion?
adi0604 to tek-monkey
7 Oct 16#14
Can you help how Revolut works for sending money abroad? Do recipient has to have Revolut or can we transfer money to their bank account?
GAVINLEWISHUKD
7 Oct 16#7
Looks interesting (I remember the crowd sourcing) but not compatible with my phone (I'm guessing because it's rooted). Might have a closer look with my tablet and come back to it when I get a new phone and restrictions lifted.
seaniboy
7 Oct 16#8
Cant have my card right now unless I give 3 friends emails LOL
gl0ckage
7 Oct 161#9
£100 deposit isn't it? No thanks. Not for me I'll stick to revolut
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Opening post
In its own words Monzo says it's: "focused on building the best current account in the world and ultimately working with a range of other providers so that Monzo can be an intelligent hub for your entire financial life."
The app will instantly update your balance, provide handy notifications and display a neat visual way of seeing where you spend your money. You can also use the app to freeze the card if it's lost or stolen. The card won't be blocked if you go abroad, plus there are no fees or charges when using the Monzo card outside the UK.
I've been using it for a couple of days now and it's brilliant so I thought I'd spread the word!
EDIT: Yes there are similar cards for spending money abroad with no fees, but the emphasis with this is the features when using it within the UK.
Available on iOS: https://itunes.apple.com/gb/app/monzo/id1052238659
and Android: https://play.google.com/store/apps/details?id=co.uk.getmondo (don't worry about the negative reviews, these were for a previous version of the app)
All comments (48)
Loving it.
No foreign exchange fees, and no charge to withdraw cash from ATMs, so rather than travel money before we go and getting a cruddy rate, I just go to the first ATM at the airport on arrival now and draw out however much I want.
The app works brilliantly on the iphone, I guess they'll have tested the android version well but there will undoubtedly be a few bugs at first. It's really useful - before I've even been told to remove my card, my phone has already pinged to tell me how much I've just spent.
I'll definitely be getting a full current account from them next year when they start offering them.