Monese – The Smart Alternative to Traditional Banking

I recently discovered Monese thanks to a Facebook Marketplace advertisement. I thought to myself; what’s so great about it?

My curiosity lead me to inquiring more information about this banking method, especially since the other person said I will receive some free money for testing it. I was skeptical at first, like why would someone offer me free money? What if it’s a scam and all they want is my personal information such as name and address?

However, as I got in touch with the person on Facebook Marketplace, I got to know that Monese was actually a licensed online bank. It is based in UK and yet operates into many countries out there. And there are a couple advantages to it compared to your normal banking methods:

-         Free ATM withdrawals up to 200euros per month

Unless you have a good and constant monthly income, you know that banks charge you a fee for every ATM withdrawal. This is especially bothersome on foreign ATM’s, where fees are bigger. Monese enables you to withdraw up to 200euros per month for free, from any ATM in the world.

-         You can have both real and virtual cards

With Monese you have the option of creating yourself both virtual and real cards. Therefore, you can pay by phone, pay online, or pay with a physical card at any merchant that accepts card payments. Moreover, you can choose the currency in which you want to have the deposit, and create further deposits later on.

-         Always know your deposit balance and spending

With traditional debit cards, it’s not so easy to check your current balance or see the exact expenditures. But with Monese it’s extremely easy to do so. You only have to open the app to see your current balance. And every time you buy something new with your card, you will get a notification on your phone’s toolbar.

-         Dedicated app for iOS and Android

If you have one of the most popular types of phones out there, meaning an Android phone or an iPhone, then rest assured that the Monese app will work. You can download and install it almost immediately, and it will take no longer than 5 minutes to complete your information and request your own card.

Since this is an honest review, I have to mention some minor drawbacks that I found along the way:

-         It takes 1 week for the debit card to arrive

At least this is what happened to me, since I live in Romania. If you live in UK, then things will move quicker since the bank is actually based in UK.

-         It’s not so easy to see or change the PIN code

When you create a traditional debit card at a normal bank, they give you the PIN code written on a piece of paper. Obviously, this is not the case with Monese. Here, if you want to view your PIN code, you have to go into the app, access Card, then View Pin Code. You will enter some information and then they will show you the Pin Code. It can be changed from any compatible ATM. Otherwise, just use the card in a contactless manner for small transactions and you are freed from PIN code hassle.

Conclusions

Monese is a new and revolutionary way of banking. If you want to give it a try, I strongly suggest you to do so. Moreover, you can get 10 euros for free when opening your Monese account if you use the code AND1589 !

Enjoy the future!