Guide to registering an account with Monzo, the UK’s digital bank

  • by
Guide to registering an account with Monzo, the UK's digital bank

Monzo Bank https://monzo.com/ is a fintech, digital bank based in the UK, regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), and also participates in the UK Financial Compensation Scheme (FSCS). It is a legal digital bank.

Registering an account

Signing up for a Monzo account does not require manual video verification, it’s easy and convenient by verifying your passport + recording and uploading a selfie video as required.

You will first need to have a UK mobile phone number, but if you don’t have one, you can buy one here: https://www.cuniq.com/uk/plans/local-plan.html

Download the Monzo app from the Google Marketplace or Apple App Store.

Prepare your own passport.

Guide to registering an account with Monzo, the UK's digital bank

Card mailing address

Monzo does not require proof of a UK address to open an account, but it needs a UK address that can receive the cards. If you have a friend in the UK, you can ask him to help you receive the cards, but if not, we recommend finding a UK mail forwarding service provider. You can use Forward via, a UK forwarding company, which is cheaper, and when the card arrives at the Forward via the warehouse, pay a forwarding fee and they will post the card to your address.

When registering for a Monzo account, the address is filled out with the address of this mail forwarding company’s warehouse or any other forwarding service provider you find.

The day after I signed up for Monzo, Monzo notified me that the card had been sent. Then I waited 1 day for the card to go into the forwarding company’s warehouse. After paying £30 for shipping, Forward via posted the card out and I received my Monzo card about a week later.

Card Experience

Guide to registering an account with Monzo, the UK's digital bank
Guide to registering an account with Monzo, the UK's digital bank

The cards are so bright!

Monzo only issues physical cards and does not offer virtual cards.

Follow the instructions to activate the card and it will be ready to use.

Guide to registering an account with Monzo, the UK's digital bank

In addition to the card, a UK-based bank account number is also provided, which can be used to transfer money to and from the bank. No problem transferring money to and from Transferwise!

Guide to registering an account with Monzo, the UK's digital bank

Click on the “Add to Apple Wallet” button to bind Apple Pay, Starbucks and some other merchants.

About the transfer

TransferWise transfers to Monzo are sent through the UK’s Faster Payment system and arrive within one hour.

Skrill to Monzo, via the UK Faster Payment system, one hour to Monzo.

Use Monzo card to top up Transferwise and receive it the next day.

Monzo holds a banking license, offers e-statements, supports Direct Debit, and supports Stripe collections.

Leave a Reply

Your email address will not be published. Required fields are marked *