Prepay Technologies ltd

Business Focus
providing in-house payment processing platform
Products
  • virtual Euro IBAN accounts
  • virtual UK accounts
  • prepaid debit cards
  • travel money cards
  • gift cards
  • corporate cards
Clients
  • individuals
  • businesses

Prepay Technologies ltd is an electronic money institution focused on providing in-house payment processing platform. Prepay Technologies ltd offers virtual Euro IBAN accounts, virtual UK accounts, prepaid debit cards, travel money cards, gift cards, corporate cards to individuals, businesses. Prepay Technologies Ltd delivers its products and services via its registered agent Monese Ltd (company number 8720992, FCA reference number 900188). Products and services listed below are offered by Monese Ltd.

Account Opening

Compared to traditional banks, electronic money institutions offer simple, fast and transparent account opening procedures. Monese offers the following account opening options:

Monese EURO Account
Provide your details online
Upload your proof of identity
Account is ready to use in a few minutes
 
 


Monese UK Account
Provide your details online
Upload your proof of identity
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.
Video Selfie. 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.

Personal Accounts with IBAN

Monese offers the following personal accounts with IBAN:

Product Name
Monese Current Account (GB IBAN)
Starter
Plus
Premium
Customer Group
all countries
Payment Cards
physical
virtual
Currency
EUR, GBP
Currency
Monese Current Account is a multi-currency account, allowing the account holder to have funds in EUR, GBP.
Payment Cards
A payment card can be ordered together with Monese Current Account. Virtual cards are not available.
Personal IBAN
  • available for verified customers
  • appears automatically for EUR balances
  • UK sort code and account number available for GBP balances
IBAN Countries
Personal IBANs assigned to Monese Current Account belong to the United Kingdom.
Personal IBAN Operations
  • sending EUR to a SEPA country
  • receiving EUR from a SEPA country
EMI Banking Details Operations
  • receiving SWIFT transfers
  • sending SWIFT transfers
  • other transfers
Pricing Plans
Monese Current Account is offered with several pricing plans for different customer groups, namely Starter, Plus, Premium.
Starter

offered to: EEA residents

A full current account for no monthly cost
Free contactless card
Fees apply to some top-ups and transfers

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
Plus

offered to: EEA residents

Fixed monthly fee
Free contactless card
Reduced rates on top-ups and transfers

Initial Fee 0.00 EUR
Monthly Fee 4.95 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
Premium

offered to: EEA residents

Unlimited withdrawals
Free contactless card
No fees on top-ups or transfers

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

See Also

Money Transfers

Monese offers money transfers between more than 30 countries in more than 15 currencies. Money can be sent from Monese accounts and received to bank accounts. Transfers made with Monese are usually completed within 0-4 days.

Speed
0-4 days
Countries
30+ countries
Currencies
15+ currencies
Sending From
  • Monese accounts
Receiving To
  • bank accounts

Transfer Speed

In general Monese processes the transfers within 0-4 days, delivery time depends on the sending account, currency and receiving country:

  • UK Payments are processed using Faster Payments Service, normally within 2-4 hours.
  • International payments from UK accounts are processed within 2-4 business days depending on the currency and the transfer initiation time (before or after 4pm)
  • SEPA payments from the Eurozone accounts are processed within 1-2 business days

Sending Countries

Monese offers sending money from a sender's Monese account, which is available for residents of the European Economic Area (EEA), regardless of his/her citizenship or financial history.

Receiving Countries

Monese allows to send money to 32 countries, namely:

 Austria
 Australia
 Belgium
 Brazil
 Bulgaria
 Cyprus
 Czech Republic
 Denmark
 Estonia
 Finland
 France
 Germany
 Greece
 Hungary
 Ireland
 Italy
 Latvia
 Lithuania
 Luxembourg
 Malta
 Norway
 Netherlands
 Mexico
 Poland
 Portugal
 Slovakia
 Slovenia
 Spain
 Sweden
 Turkey
 United Kingdom
 United States

Sending Methods

Monese account
Monese offers sending money from a sender's Monese account only.
So, to be able to perform a transfer, a sender should first open an account with Monese and deposit enough money to this account.

Receiving Methods

Bank accounts
Monese offers sending money to bank accounts only.

Advantages of Monese Transfers

Fast transfers within the UK
Fast SEPA transfers

Disadvantages of Monese Transfers

Have to open a current account with Monese
Available in Europe only
Receiving money to bank accounts only

How Monese Transfers Work

Create account
Install Monese application, then open and verify your account.
Deposit money
Deposit money to your account via bank transfer or cash.
Make transfer
Click 'pay' in the app and add your recipients details.

Alternatives to Monese Transfers

See Also

Operations with Cryptocurrencies

No

Monese do not conduct operations with cryptocurrencies.

See Also

Mobile Applications *)

Monese - Current Account
 5.0, 487 Ratings
TUI Travel Money
myOptimum
Quidity Plus Account

*) Based on the information from Apple App Store.

Company Details

Country of Registration
United Kingdom
Company Number
04008083
BIC
PRTCGB21
Authorized By
Financial Conduct Authority
Reference Number
900010
Authorized Activities
  • placing cash to a payment account
  • execution of payment transactions on a payment account (not covered by a credit line)
  • issuing payment instruments or acquiring payment transactions
  • money remittance

Prepay Technologies ltd is authorized by the Financial Conduct Authority (reference number 900010) for placing cash to a payment account, execution of payment transactions on a payment account (not covered by a credit line), issuing payment instruments or acquiring payment transactions, money remittance.

EEA Passport
Yes
Deposit Guarantee
No

Due to EEA passport rules Prepay Technologies ltd, can conduct its activities in any of the 31 EEA member states. Prepay Technologies ltd do not participate in deposit guarantee schemes.

See Also

Contacts

Dorset Street 43-45, W1U 7NA, London, United Kingdom
+44 02079083813
Website Languages
English

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See Also