Compare MONESE vs TransferWise

MONESE LTD Logo
Trustpilot Rating
Reviews 16,335 | Good
 (4.2)

MONESE LTD is an electronic money institution focused on digital banking and payment services. MONESE LTD offers virtual Euro IBAN accounts, virtual UK accounts, prepaid debit cards, travel money cards, corporate cards to individuals, businesses. In 2018 MONESE LTD had total assets of 20.98 mln GBP, MONESE LTD generated net income of -12,502,270.00 GBP. Incorporated in the United Kingdom, MONESE LTD is authorized and regulated by the Financial Conduct Authority.

Transferwise Ltd Logo
Trustpilot Rating
Reviews 94,805 | Excellent
 (4.6)

Transferwise Ltd is an electronic money institution focused on international money transfers. Transferwise Ltd offers prepaid cards, international money transfers, virtual accounts with IBAN to individuals, businesses. In 2019 Transferwise Ltd had total assets of 1,108.80 mln GBP, Transferwise Ltd generated net income of 10.30 mln GBP. Incorporated in the United Kingdom, Transferwise Ltd is authorized and regulated by the Financial Conduct Authority.

MONESE Business Focus
digital banking and payment services
MONESE Products
  • virtual Euro IBAN accounts
  • virtual UK accounts
  • prepaid debit cards
  • travel money cards
  • corporate cards
MONESE Clients
  • individuals
  • businesses

View MONESE Profile +

TransferWise Business Focus
international money transfers
TransferWise Products
  • prepaid cards
  • virtual accounts with IBAN
TransferWise Services
  • international money transfers
TransferWise Clients
  • individuals
  • businesses

View TransferWise Profile +

Compare Personal Accounts

MONESE TransferWise
CurrencyEUR, GBP, RONEUR, GBP, AUD
and 43 more
Payment Cards physical
virtual
physical
virtual
Personal IBAN available (GB, BE IBAN) available (BE, GB IBAN)
UK Account Number available available
Customer GroupsEEA residentsall countries
Pricing Plans Simple
Classic
Premium
single for all customers
Open Account Open Account
 

Currency

MONESE

Monese Current Account is a multi-currency account, allowing the account holder to have funds in EUR, GBP, RON.

TransferWise

Borderless Account is a multi-currency account, allowing the account holder to have funds in EUR, GBP, AUD, AED, ARS, BDT, BGN, CHF, CLP, CNY, CZK, DKK, EGP, GEL, HKD, HRK, HUF, CAD, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, USD, PEN, PHP, PLN, PKR, RON, RUB, SEK, SGD, THB, TRY, UAH, VND, ZAR.

Payment Cards

MONESE

Monese Debit Card (MasterCard) can be ordered together with Monese Current Account.

TransferWise

TransferWise Personal Card (MasterCard) can be ordered together with Borderless Account. Virtual cards are not available.

International Transfers

MONESE

  • SWIFT Transfers

TransferWise

  • SWIFT Transfers
  • SEPA Credit Transfers
  • SEPA Instant Transfers

Personal IBAN

MONESE

  • available for verified customers
  • appears automatically for EUR balances
  • UK sort code and account number available for GBP balances

TransferWise

  • available for verified customers
  • appears automatically for EUR balances
  • UK sort code and account number available for GBP balances
  • ABA and account number available for USD balances
  • BSB and account number available for AUD balances
  • account number available for NZD balances
  • account number available for PLN balances

IBAN Countries

MONESE

Individual IBANs assigned to Monese current accounts belong to:

  • Belgium for EUR balances;
  • the United Kingdom for GBP balances;

TransferWise

Personal IBANs assigned to TransferWise Borderless accounts belong to:

  • Belgium for EUR balances
  • the United Kingdom for GBP balances

Account Security

MONESE

n/a

TransferWise

TransferWise uses HTTPS encryption, and two-factor authentication to protect all customer transactions and make sure everything is secure. TransferWise will never misuse or sell customer data.

Pricing Plans

MONESE

Monese Current Account is offered with several pricing plans for different customer groups, namely Simple, Classic, Premium.

  • Simple
  • offered to: EEA residents
  • Initial Fee 0.00 EUR
  • Monthly Fee 0.00 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 0.00 EUR
  • SEPA Incoming 0.00 EUR
  • SWIFT Outgoing 0.00 EUR
  • SWIFT Incoming 0.00 EUR
  • A full current account for no monthly cost
  • Free contactless card, £4.95 for delivery
  • ATMs & cash top-ups, £200 free
  • Open Account
  • Classic
  • offered to: EEA residents
  • Initial Fee 0.00 EUR
  • Monthly Fee 5.95 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 0.00 EUR
  • SEPA Incoming 0.00 EUR
  • SWIFT Outgoing 0.00 EUR
  • SWIFT Incoming 0.00 EUR
  • Fixed monthly fee
  • Free contactless card, free delivery
  • ATMs & cash top-ups, £9000 free
  • Open Account
  • Premium
  • offered to: EEA residents
  • Initial Fee 0.00 EUR
  • Monthly Fee 14.95 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 0.00 EUR
  • SEPA Incoming 0.00 EUR
  • SWIFT Outgoing 0.00 EUR
  • SWIFT Incoming 0.00 EUR
  • Unlimited withdrawals
  • Free contactless card, free delivery
  • Fee-free ATM withdrawals and cash top-ups
  • Open Account

TransferWise

Borderless Account is offered with a single pricing plan for all customers.

  • Borderless Account
  • offered to: all countries
  • Initial Fee 0.00 EUR
  • SEPA Outgoing 0.60 EUR
  • SEPA Incoming 0.00 EUR
  • SWIFT Outgoing 0.60 EUR
  • SWIFT Incoming 0.00 EUR
  • Low conversion fees
  • Zero transaction fees
  • Free ATM withdrawals up to £200 per 30 days
  • Open Account

How to Open MONESE Account

Opening Monese Current Account
1.
Provide your details online
2.
Upload your proof of identity
3.
Pass video authentication
4.
Account is ready to use in a few minutes
Monese Accounts are available to private individuals, residents of the EEA.
Proof of Identity. Depending of the client's country, MONESE accepts the following documents: passport, national ID card, driving license, residence card.
Identity Verification. Monese requires to take a video selfie using Monese application.
Monese doesn't require to provide either local proof of address documents or credit score documents. However, a proof of address can be used as an identity verification instead of the video selfie.


How to Open TransferWise Account

Opening Borderless Account
1.
Provide your details online
2.
Upload your proof of identity
3.
Upload selfie with your proof of identity
4.
Account is ready to use in 2 days
Proof of Identity. Depending of the client's country, TransferWise accepts the following documents: passport, national ID card, driver's licence.


Compare Personal Cards

MONESE TransferWise
MONESE LTD CardTransferwise Ltd Card
Card Typedebit
physical, virtual
contactless
debit
physical
Currencysingle currency
EUR, GBP
multi currency
as per account
Card ProviderMasterCardMasterCard
Order Card Order Card
 

Card Type

MONESE

MONESE cards are debit cards, rather than prepaid cards. MONESE cards are issued as both physical (plastic) and virtual cards; plastic cards are delivered to the customer's address.

TransferWise

TransferWise cards are debit cards, rather than prepaid cards. TransferWise cards are issued only as physical (plastic) cards and are delivered to the customer's address.

Currency

MONESE

Monese Debit Card is a single currency card, it can be issued in EUR, GBP only.

TransferWise

TransferWise Personal Card is a multi-currency card, the funds can be held in different currencies at the same time. TransferWise Personal Card can hold funds in any as the corresponding account, namely in EUR, GBP, AUD, AED, ARS, BDT, BGN, CHF, CLP, CNY, CZK, DKK, EGP, GEL, HKD, HRK, HUF, CAD, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, USD, PEN, PHP, PLN, PKR, RON, RUB, SEK, SGD, THB, TRY, UAH, VND, ZAR.

Customer Group

MONESE

Monese payment cards are available to residents of the European Economic Area (EEA) countries.

TransferWise

TransferWise cards are currently available for the holders of TransferWise borderless accounts in the United Kingdom, United States, Switzerland and the European Economic Area (with the exception of Greece), Gibraltar (British Overseas Territory) and the UK Crown Dependencies: Guernsey, Isle of Man, and Jersey.

Card Loading

MONESE

Monese cards can be topped up from the cardholder's Monese Current account. Monese accounts can be topped up with a bank transfer. Within the UK Monese accounts can be topped up with cash at the Post Office and PayPoint. Monese also offers cash top-up across Europe via Paysafecash.

TransferWise

TrnaferWise card does not have a separate balance from TransferWise borderless account. So, topping up a TransferWise borderless account actually loads the TransferWise cards connected to the account.

Card Security

MONESE

3D Secure Payments. 3D Secure makes online shopping safer for both cardholders and retailers, by authenticating that the cardholder is making the transaction at the time of purchase. This enhanced security is by way of an SMS message that’s sent whenever making an online transaction using a Monese card.

TransferWise

3D Secure Payments. For some online payments, a TransferWise cardholder can be asked to approve the payment from his/her TransferWise app, or by using a code sent by SMS or voice call. This is called a 3D Secure online payment, and is an added level of security some websites ask for. At the moment, 3D secure payments are only supported for cards issued in the UK and the European Economic Area (EEA).

Pricing Plans

MONESE

Card Fees and Limits
SimpleClassicPremium
Card Delivery Fee4.95 GBPfreefree
ATM Withdrawal Feeup tp 200 GBP monthly: free
above that: 2.00%
up to 900 GBP monthly: free
above that: 2.00%
free
Foreign Currency Spending Feeup tp 2,000 GBP monthly: free
above that: 2.00%
up to 9,000 GBP monthly: free
above that: 2.00%
free

TransferWise

Card Fees and Limits
UK/EUAPACUS
Card Issuance Fee5 GBP/6 EUR10 AUD/10 NZD/10 SGD7 USD
Currency Exchange Fee0.24–3.69%0.24–3.69%0.24–3.69%
ATM Withdrawal Feeup to 200 GBP: free
above that: 2.00%
up to 350 AUD/350 NZD/350 SGD: free
above that: 2.00%
up to 250 USD: free
above that: 2.00%
ATM Withdrawal Daily Limit1,500 GBP2,700 AUD/NZD/SGD1,000 USD
ATM Withdrawal Monthly Limit4,000 GBP7,000 AUD/NZD/SGD4,000 USD
Contactless Payment Daily Limit1,000 GBP1,750 AUD/NZD/SGDn/a
Contactless Payment Monthly Limit4,000 GBP7,000 AUD/NZD/SGDn/a
Magnetic Stripe Daily Limit6,000 GBP10,500 AUD/NZD/SGD6,000 USD
Online Purchase Daily Limit10,000 GBP17,500 AUD/NZD/SGD2,000 USD
Online Purchase Monthly Limit30,000 GBP52,500 AUD/NZD/SGD10,000 USD