What Monese is (in plain words)

Monese is a mobile-only money account built for people who move and work across borders. You open it on your phone, get a contactless debit card, and manage everyday money in multiple currencies without the slow, branch-based banking experience. It’s especially handy for those living or doing business across the UK and Europe. (monese.com)

What you get at a glance

• Multi‑currency accounts (GBP, EUR, RON) so you can hold and pay in the currency that makes sense for you. Instant Monese‑to‑Monese transfers and fast local transfers via UK Faster Payments/SEPA keep money moving quickly. (monese.com)

• Apple Pay and Google Pay support for quick, secure tap‑to‑pay on phones and wearables across many European countries (including the UK). (monese.com)

• A physical and virtual debit card you can lock/unlock from the app, plus instant spend notifications for tighter control. (monese.com)

• Budgeting tools and “pots” with round‑ups to plan spending and set aside cash automatically. Download statements as PDF or Excel whenever you need them. (monese.com)

• International transfers at competitive rates, with clear plan‑based fees (note the extra 1% FX adjustment at weekends on some plans). (monese.com)

• PayPal integration so you can view your PayPal balance and activity inside Monese and use your Monese card in PayPal. Avios tracking is also built in for travel‑savvy teams. (monese.com)

• Easy cash top‑ups at UK Post Office and PayPoint branches, and Paysafecash for EUR in select countries, useful if parts of your operation still handle cash. (monese.com)

• Multilingual support in the app and via customer service, which helps when your team isn’t all in one country. (monese.com)

Plans and pricing (simple and transparent)

• Simple: £0/month for a no‑frills account in GBP/EUR/RON.

• Classic: £7.95/month for lower fees and higher allowances.

• Premium: £14.95/month for the best allowances and lowest fees.

There’s also Credit Builder (UK only) for £2.50/month, which works as an interest‑free, fixed‑term arrangement reported to build your history over 12 months. (monese.com)

Business account option

Running a UK‑registered limited company with a single director? Monese offers a Business account (£9.95/month) managed in the same app alongside your personal account, with a dedicated business debit card and easy cash top‑ups via Post Office and PayPoint. (You need a personal Monese account first.) (monese.com)

Where Monese works (important for US‑based teams)

Monese is designed for customers living in the UK or EEA. It’s not available to US residents, but it can be a practical option for your UK/EEA staff and contractors if your back office is in the US and you pay people in Europe. (monese.com)

Safety and how money is protected

Monese is an FCA‑authorised e‑money institution (not a bank). That means funds aren’t FSCS‑insured; instead, they’re safeguarded (kept in segregated accounts via its long‑time issuing partner PPS). Day to day, you still get modern security like biometric login and 3‑D Secure. (forbes.com)

Why finance and operations teams like it (back‑office relevance)

• Faster payables and payroll in the UK/EU: Instant Monese‑to‑Monese and fast local payments reduce float time, which helps with cash management and supplier relationships. (monese.com)

• Cleaner reconciliation: PDF/Excel statements, category‑based spend tracking, and real‑time notifications make month‑end much easier. (monese.com)

• Multi‑currency by design: Holding GBP/EUR/RON and paying locally cuts FX friction and gives teams clearer visibility on currency exposure. (monese.com)

• E‑commerce friendly: PayPal integration surfaces balances and transactions in one place; Apple/Google Pay support simplifies employee spend on the move. (monese.com)

• Cash handling (where needed): UK Post Office/PayPoint cash loads keep legacy workflows moving while you modernise. (monese.com)

• Open Banking aggregation: Link external UK bank accounts so your team sees balances and moves money without app‑hopping. (monese.com)

• Simple UK Business account for a one‑director limited company, managed side‑by‑side with your personal account to keep books clean. (monese.com)

Practical watch‑outs

• Fees vary by plan (e.g., weekend FX adjustment on some transfers; cash top‑ups and ATM usage have allowances/fees). Check your likely usage and pick the plan that optimises total cost. (monese.com)

• Region‑locked availability: Great for UK/EEA teams; US residents can’t open accounts. Plan accordingly if your HQ is in the US but your workforce is in Europe. (monese.com)

• Corporate context: In October 2024, Monese agreed to be acquired by Pockit (subject to regulatory approvals at announcement). Both brands said they would continue operating while integrating. This doesn’t change daily use, but it’s useful context for vendor risk reviews. (hello.pockit.com)

Bottom line

If your back office supports UK/EEA staff, contractors or a UK limited company, Monese gives you fast, app‑first money management, multi‑currency accounts, and practical integrations that reduce manual work. Pick the plan that matches your payment patterns, and you’ll have a lightweight, well‑structured foundation for everyday operations. (monese.com)