Monzo Help - Opening a Monzo account (2024)

FAQs

Monzo Help - Opening a Monzo account? ›

In order to open an account with us, you will need to be a current full-time US resident over the age of 18, and possess a Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN).

You may have got rejected for a reason or because you lack a credit history in the UK. If you do not have enough or any credit history in the UK, you should try to register on the electoral roll as this can boost your score up enough to start building proper credit.

Today, Monzo is moving out of closed beta and opening Monzo to customers across America! The wait(list) is over – if you want a Monzo account, just download the app and apply.

All you need is to live in the UK and have a UK address. Unfortunately, if you don't have a UK address, we can't offer you an account (sorry).

> We're afraid we can't go into more detail about why we can't offer you an account. > We assess every application using details you've given us, and any information we get from the credit reference agencies we use (Experian and TrnsUnion) or from anti-fraud services like Cifas. Starling is the same.

There are a few factors that likely contributed to monzo's struggles in 2020. First, the pandemic hit the bank hard. This led to a sharp decline in revenue, and monzo was unable to make up for this loss through its digital channels. Like many small businesses, monzo was forced to furlough staff.

Chime is one of the most popular choices for those looking for online banks like Monzo. The San Francisco-based Chime offers an online checking account that's free to open. Even better, it also comes with no monthly fees. You can manage your money 24/7 through the user-friendly Chime mobile app.

Monzo works on Mastercard exchange rates, and Revolut works on Interbank exchange rates. Both banks offer similar limits and fees, but Monzo's fee-free abroad spending may appeal more to travellers.

You can get help by telling us a bit more about your problem, we will then direct you to one of our self-serve flows or help articles and you can chat to us if you need more help. You can call us for free on 0800 802 1281.

Do I need proof of address for Monzo? ›

How to get a bank account without proof of address. When you open a bank account with Monzo, we don't ask you for proof of address because we verify your date of birth instead.

Monzo only allows signups with an UK mobile so if you're not in the UK yet and still want to sign up your only option is to get a number from a VoIP provider.

To open a Monzo account you need to be at least 16 years old and live in the UK. You'll also need your phone and a valid ID. We accept your: Passport.

In order to open an account with us, you will need to be a current full-time US resident over the age of 18, and possess a Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN).

You need a UK address. If you gave a UK address on sign up (as you already have a place to live here), it would probably have flagged your IP as not in the UK. Monzo has multiple processes to stop people trying to get around the system using different email addresses.

Use it, leave it open and unused or close it. Completely up to you, for now. If you tell Monzo you have moved abroad permanently they will close your account. They may also close your account based on spending patterns etc.

There are some common signs that someone's using an account for criminal activity. To protect people's money and stop criminals using Monzo for illegal activities, we'll block accounts when we suspect this is happening. We identify a risky customer.

Other reasons we can't support you

If your business is based, registered, or a tax resident outside of the UK we can't offer you an account right now. You'll also need to make sure you're in the UK and you're not using a VPN when you apply, so it doesn't seem like your business is based abroad.

Make sure you have your account co-owner's details saved in your contacts, and that you have Payments with Friends switched on in your app settings – otherwise you won't be able to get started!

We'll ask you some questions to help us set up your account, but there's no lengthy paperwork to fill in. In fact, it only takes 10 minutes.