Monese Review 2026

What is Monese?

Monese is a UK-based e-money institution founded in 2015, specifically designed for people who struggle to open a bank account in a new country. Its core promise: open a UK or EU account in minutes, with no proof of address, no credit history, and no minimum deposit required.

Is Monese good for expats?

Monese was built for exactly one situation: the first weeks after arriving in a new country, when you have nothing — no local address, no credit history, no NIF — but you need a bank account immediately. In that specific situation, Monese is excellent.

With a Monese account you get a UK sort code and account number (GBP) or a European IBAN (EUR) within minutes. You can use it to receive your first paycheck, pay rent, and start building a financial footprint in your new country.

Monese plans and fees

• Simple (free): UK or EU account, Mastercard debit card, £200/month free ATM withdrawals, limited transfers.
• Classic (£5.95/month): Unlimited transfers, £900/month ATM limit, better exchange rates.
• Premium (£14.95/month): No transfer fees, highest ATM limits, priority support.

Monese vs Revolut for new arrivals

Both work without a local address. Revolut has more features and a better app. Monese's advantage is its reputation for being approachable for people who are new to digital banking and want a more traditional-feeling account experience.

Bottom line

Monese is a solid choice for the first 1–3 months after arriving in a new country. Once you have your address and local registration sorted, most expats transition to a more feature-rich option like Revolut, N26 or bunq as their primary account.