Personal Finance Tips

How to open a Monzo account

Zorica Lončar

02.03.22 (updated more than 1 year ago)

Read time 2 minutes

Already a Monzo customer?
You don't need to leave your app to benefit from Wise. Monzo has partnered with Wise Platform to integrate our global payments infrastructure directly into Monzo. That means that Monzo customers can now access fast, convenient international payments directly in their Monzo app.

Visit Monzo

Looking for a new bank account? If you prefer to manage your money via your smartphone, Monzo is an option to consider.

In this guide, we’ll provide the factual information on how to open a Monzo account, including account types, eligibility requirements, and the steps to get started.

What is Monzo?

Monzo is an online bank offering banking services managed via a smartphone app.

Based in the UK and founded in 2015¹, Monzo is an app-based bank that now has over 5 million customers².

It offers current accounts, along with premium, business, youth, and savings accounts. These provide features including a debit card and FSCS protection. Account management is conducted through the Monzo app.

Monzo also offers international payments via an integration with Wise Platform³. This allows customers to access international payments directly from the Monzo mobile banking app. Find out more about it here.

What accounts does Monzo offer?

Monzo offers current, premium, business, joint, and youth accounts. Here are several options for personal and business banking:

Monzo current account⁴

A UK current account with a debit card and UK bank transfers. App features include "Pots" for savings, spending categories, and in-app customer support.

Monzo Plus⁴

A UK current account costing £5 a month. It includes the standard Monzo features plus interest on balances up to a certain limit, a virtual card, and fee-free overseas ATM withdrawals within specific parameters.

Monzo Premium⁴

This premium account includes the features of the free and Plus accounts, along with additional services such as phone insurance, worldwide travel insurance, and a metal debit card.

Monzo Business accounts⁵

For business banking, Monzo offers the Monzo Lite account or the Pro account. Features vary between these tiers to suit different business requirements. You can compare account features here, to find the option that works for your business

Monzo 16-17 account⁶

Monzo’s youth account offers features similar to the adult current accounts, including a contactless debit card and fee-free ATM withdrawals within the EEA.

There are specific restrictions for this account type, such as blocks on certain spending categories and the absence of an overdraft facility.

Can you open a Monzo account without a UK address?

To open a Monzo account, you must live in the UK full-time and have the right to reside in the UK⁷.

When applying, you must provide a home address and personal details. A valid ID is required, such as a passport, driving licence, National ID card, or biometric residency permit⁷.

Other eligibility requirements

In addition to having a UK address, applicants must be over 16 years old⁷.

Identity verification is required, which involves providing a valid form of ID and submitting a selfie video via the app for comparison.

How to open a Monzo account online

The following steps outline how to open a Monzo current account⁷:

Download the Monzo app. It’s available on both the App store for Apple devices, and the Google Play Store for Android devices
Open the app and start creating an account. You’ll need to provide your address, email address and phone number, along with details about how you’ll be using the account and what you do for a living.
Verify your identity. To do this, you’ll need to take a photo of your ID and then a selfie video of yourself. Once you’ve uploaded both of these in the app, Monzo will compare the two to verify your identity.
Set up your account. Choose which account type and options you’d like, and set it up according to your preferences.
Wait for your Monzo debit card to arrive in the post. This should take just a couple of days. Once it arrives, you can activate it by following the instructions in the Monzo app.

This guide provides the steps required to choose and open a Monzo account online. The process is centered on the Monzo app and requires valid ID documents.

Once an account is established, users can access Monzo's mobile banking features, including international payments enabled by the partnership with Wise Platform.

Sources used for this article:

The Guardian - Monzo Digital Bank
Monzo - About
Monzo - International transfers
Monzo - Current account
Monzo - Business
Monzo - 16 Plus
Monzo - Monzo Personal Account

Sources checked on 01-02-2022.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.