What it does
Monese offers electronic-money accounts with GBP, EUR and RON account details. Its app combines transfers, direct debits, spending records and weekly or monthly budgets. UK personal accounts have a free Pay As You Go plan and three paid options.
A separate currency account gives you the details needed for payments in that currency. GBP uses UK account details; EUR and RON accounts use an IBAN and bank identifier. Transaction history includes payment references, and statements remain available in the app.
Use the spending view to see when and where a purchase happened, then set a weekly or monthly budget. Notifications help you follow new activity. If you misplace a card, you can lock it temporarily and unlock it when found. Reporting it lost or stolen starts replacement; linking the replacement permanently blocks the old card.
UK personal-account prices
| Plan | Monthly payment | Annual payment option |
|---|---|---|
| Pay As You Go | £0 | No annual plan fee |
| Everyday | £2.95 | £29.95 |
| Cashback | £7.95 | £79.95 |
| Premium | £14.95 | £124.95 |
One plan fee covers the currency accounts. On Pay As You Go, a virtual card is free and physical-card delivery costs £4.95. Incoming bank transfers cost £0.99 and outgoing domestic transfers £1.29 each; direct debits are free. After 12 months without account activity, a £1 monthly inactivity fee applies until activity resumes. These are UK prices; European accounts have their own tariff.
Applying and holding money
The UK personal terms require applicants to be at least 18 and either UK residents or able to demonstrate clear UK links. Opening happens in the app with identity verification, including an identity document and selfie. The account is for personal use.
Monese says it is an electronic money institution and safeguards UK customer funds. It states that these balances are not covered by the Financial Services Compensation Scheme (FSCS).
Strengths
- Currency-specific details for GBP, EUR and RON payments
- Weekly and monthly budgets alongside categorized spending
- Temporary card locks can be reversed in the app
Watch out for
- Pay As You Go charges for incoming and outgoing bank transfers
- Monese says UK balances have no FSCS deposit protection
- Inactive Pay As You Go accounts incur a monthly charge after 12 months
Best for
- Eligible customers using several currency accounts and app-based spending records
Sources
- Monese Instant Account and Identity Verification (Oct 27, 2026)
- Monese Spending Budgets and Transaction Views (Oct 27, 2026)
- Monese UK Personal Fees Effective 4 May 2026 (Oct 27, 2026)
- Monese UK Personal Terms and Card Controls (Oct 27, 2026)
- Monese Operators and Electronic-Money Safeguarding (Oct 27, 2026)