Monese Fees and Features

Monese is a UK based digital payment company that gives you the ability to have two current accounts – a European IBAN account in Euros and a full UK account, with a sort code, in pounds sterling
Monese is currently available to anyone living in Ireland or anywhere else within the European Economic Area (EEA). They have almost 1 million customers and carry out $3 billion of transactions a year.

Monese is one of a growing number of “challenger” banks that operate online . Two popular ones in Ireland are N26 and Revolut . Read more about N26 and Revolut here.

Ireland and the UK are close neighbours – and there are many thousands of people in Ireland who have financial transactions with UK banks or companies. Sometimes having a UK bank account when living in Ireland can make things easier – such as paying UK bills by direct debit or accepting salary or pension payments. Monese is an easy way to get access to a UK bank account.

There are 3 different levels of account with Monese

  • SIMPLE account has no monthly fees
  • Classic Account ( £4.95 or €4.95 per calendar month) (dependant on whether you choose to run the UK or Euro account as your primary account)
  • Premium Account which is £14.95 or €14.95 per month.
Comparison of Monese AccountsSimple AccountClassic AccountPremium Account
Monthly FeeFree€4.95€14.95
ATM Cash (Anywhere)First €200 a month is free then 2% feeFirst €800 a month is free then 2% feeFree
Apple Pay /
Google Pay
YesYesYes
Foreign Spending
on Debit Card
(Uses Mastercard exchange rate)
First €2000 a month is free then 2% fee.First €8000 a month is free then 2% fee All Free
Direct Debits (Uk Acc only)FreeFreeFree
International Transfers (Uses wholesale exchange rate)2% (min €2)0.5% (Min €2)Free
Daily Debit Card
Spending Limit
€7000€7000€7000
Maximum card transaction .€4000€4000€4000
Max Balance€50,000€50,000€50,000

You will need a smartphone to operate a Monese account

. You can apply for a Monese account using your PC/Laptop Here

If you are viewing this with an Apple phone or Ipad You can get the free Monese App Here.

They have a promo code that gets you €15 credit when you sign up.
Use code PERK2019

Student Discount: If you are a student in Ireland or any European university, you can get the Monese “Classic ” account for FREE for 12 months. (normally £/€4.95 a month) .

If you visit the UK – Monese will accept Sterling cash topups at any UK Post Office or Paypoint location in the UK . (small fee and max £500 topup per day )

Monese UK accounts: There are also the following limits

  • Cash topups via Post Office: £500 per transaction per day
  • Cash topups via PayPoint: £249 per transaction and £500 per day
  • Instant Debit card Top up: £300 daily, £600 weekly, and £600 monthly
  • Cash withdrawal via ATMs: £300 per day
  • Cash withdrawal via cashback: depends on the store operator and is usually £50 or £100 per transaction
  • Card payments are limited to £4000 per transaction and £7000 per day

Monese is not a bank – it is a registered agent of PrePay Technologies Limited which is authorised by the UK Financial Conduct Authority as an electronic money institution under the Electronic Money Regulations 2011

Read about other digital banks and payment apps available in Ireland on our Comparison of Revolut Vs N26

If you are looking for a payment card available in Ireland that has no fees on foreign spending and no limits on spending – you should read our review of the Bunq travel card