MONESE LTD (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. MONESE is focused on digital banking and payment services. The company offers virtual Euro IBAN accounts, virtual UK accounts, prepaid debit cards, travel money cards, corporate cards to individuals, businesses. In 2022 MONESE LTD had total assets of 32.79 mln GBP, and generated net income of -30,515,065.00 GBP. During 2022 the company had 349 employees in average.
The peace-of-mind money app
Get GBP, EUR and RON accounts in minutes
Great exchange rates, instant top-ups
Built-in Bills & Purchase Protection
Move money abroad to over 30 countries
Multilingual support team
Contactless Mastercard debit card
(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, MONESE LTD is assigned the overall rating 4.14 (good) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Average | (3.05) |
| Market Niche | Average | (3.24) |
| Company Background | Strong | (3.82) |
| Customer Support | Good | (3.81) |
| Customer Sentiment | Excellent | (4.21) |
| Transparency | High | (3.91) |
| Overall Rating | Good | (4.14) |
|---|
TheBanks.eu has also identified the following pros and cons of the company:
Monese Current Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
EUR (Euro)
GBP (Pound sterling)
RON (Romanian new leu)Monese Debit Card (MasterCard) can be ordered together with Monese Current Account.
Individual IBANs assigned to Monese current accounts belong to:
Monese Current Account is offered to UK, EEA residents.
Monese Current Account is offered with several pricing plans for different customer groups, namely Simple, Classic, Premium.
MONESE cards are debit cards, rather than prepaid cards.
Debit vs Prepaid Cards.Debit cards do not have a separate balance and are connected to an account ore-wallet. Such cards are loaded automatically when the account/e-wallet is being topped up.Prepaid cards have a separate balance from an account or e-wallet.These cards have to be loaded manually, usually from the account/e-wallet.
MONESE cards are issued as both physical (plastic) and virtual cards; plastic cards are delivered to the customer's address.Monese Debit Card is a single currency card, it can be issued either in EUR or in GBP.
EUR (Euro)GBP (Pound sterling)Monese payment cards are available to residents of the European Economic Area(EEA) countries.
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 accountscan be topped up with cash at the Post Office and PayPoint. Monese also offers cash top-up across Europe via Paysafecash.
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 timeof purchase. This enhanced security is by way of an SMS message that’s sentwhenever making an online transaction using a Monese card.
Monese Debit Card supports Apple Pay, Google Pay.
PrePay Technologies Limited
| Simple | Classic | Premium | |
|---|---|---|---|
| Card Delivery Fee | 4.95 GBP | free | free |
| Virtual Debit Card | 0.30 EUR per card | free | free |
| ATM Withdrawal Fee | up tp 200 GBP monthly: free above that: 2.00% | up to 900 GBP monthly: free above that: 2.00% | free |
| Foreign Currency Spending Fee | up tp 2,000 GBP monthly: free above that: 2.00% | up to 9,000 GBP monthly: free above that: 2.00% | free |
*) EEA stands for the European Economic Area and consists of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.
MONESE is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
MONESE LTD is not registered with the FCA as a crypro asset firm.
MONESE do not offer crypto assets services.
| GBP | 2021 | 2022 | change (%) |
|---|---|---|---|
| Total Assets | 19,955,645.00 | 32,789,257.00 | +64.31% |
| Turnover | 17,572,971.00 | 27,685,682.00 | +57.55% |
| Gross Profit | 373,792.00 | 896,874.00 | +139.94% |
| Net Income | -16,825,357.00 | -30,515,065.00 | +81.36% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 61 (-20) |  TrueLayer Limited | 0.10 % | 33.91 mln GBP (-42.35%) |
| 62 (+6) |  MONESE LTD | 0.10 % | 32.79 mln GBP (+64.31%) |
| 63 (-8) |  UKForex Limited | 0.10 % | 31.91 mln GBP (-11.33%) |
United KingdomMONESE LTD is authorized by the Financial Conduct Authority as a e-money institution (reference number 900960) for issuance of electronic money, distribution and redemption of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance, execution of payment transactions via telecoms, IT system or network operator, account information services, payment initiation services; the authorization was granted on 12 November 2019.
MONESE LTD is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, MONESE is required to safeguard its customers’ money.
Since January 2021, MONESE LTD can not conduct its activities in EEA member states.
MONESE LTD is a SWIFT member. MONESE LTD also participates in BACS, Faster Payments.
MONESE LTD is connected to MasterCard payment card scheme.
Finsbury Square 50, EC2A 1HD, London, United Kingdom
+44 207 193 1120EnglishMONESE has profiles on the following social networks:
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
digital banking and payment services 
