providing IBAN accounts Monetley LTD (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. Monetley is focused on providing IBAN accounts. The company offers business IBAN accounts, personal IBAN accounts, SEPA payments to natural persons, legal entities. In 2023 Monetley LTD had total assets of 23.18 mln GBP, and generated net income of -28,559.00 GBP. During 2023 the company had 14 employees in average.
WorldwideOpen an E-money Account effortlessly
Legal paperless account
Transfer money abroad easily
Instant account management
Enjoy seamless integration of your account with leading productivity and collaboration apps
Integrate your core business processes to your account using an Application programming interface to enjoy seamless corporate services any second
(*)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, Monetley LTD is assigned the overall rating 3.24 (average) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Focused | (1.92) |
| Market Niche | Very Broad | (4.37) |
| Company Background | Strong | (3.55) |
| Customer Support | Poor | (2.29) |
| Customer Sentiment | n/a | |
| Transparency | Average | (2.88) |
| Overall Rating | Average | (3.24) |
|---|
TheBanks.eu has also identified the following pros and cons of the company:
Online registration
For mobile people
Online payments
(*)as stated by the company itself
Personal Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
EUR (Euro)
GBP (Pound sterling)
USD (US dollar)Payment cards are not offered together with Personal Account.
Personal Account is offered to EU, UK residents, non-EU residents.
Personal Account is offered with several pricing plans for different customer groups, namely Personal EU, UK, Personal non-EU.
Unique EURO IBAN accounts
Smart personalized 24/7 support
Access to the system from any device
Instant SEPA
Accounting automatisation
(*)as stated by the company itself
Business Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
EUR (Euro)GBP (Pound sterling)USD (US dollar)Payment cards are not offered together with Business Account.
Business Account is offered to low risk, medium risk, high risk, crypto related.
Business Account is offered with several pricing plans for different customer groups, namely Low risk, Medium Risk, High risk, Crypto-related.
Monetley is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services. Monetley LTD conducts some crypto-related activities.
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.
Monetley LTD is not registered with the FCA as a crypro asset firm.
Monetley do not offer crypto assets services.
Monetley allows crypto-related businesses to open accounts as well as supports in general transfers to and from crypto platforms.
| GBP | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 16,217,514.00 | 23,176,690.00 | +42.91% |
| Turnover | 1,345,615.00 | 1,316,592.00 | -2.16% |
| Gross Profit | 1,098,154.00 | 1,119,209.00 | +1.92% |
| Net Income | 203,811.00 | -28,559.00 |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 80 |  Luxon Payments Limited | 0.05 % | 16.26 mln GBP (+11.75%) |
| 81 (-1) | Monetley LTD | 0.05 % | 16.22 mln GBP (+5.30%) |
| 82 (+7) |  MiFinity UK Limited | 0.05 % | 16.14 mln GBP (+74.36%) |
United KingdomMonetley LTD is authorized by the Financial Conduct Authority as a e-money institution (reference number 900921) for issuance 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; the authorization was granted on 28 October 2019.
Monetley 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, Monetley is required to safeguard its customers’ money.
Since January 2021, Monetley LTD can not conduct its activities in EEA member states.
Monetley LTD is a SWIFT member and a SEPA (SCT, SCT Inst) scheme participant.
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