Monzo USA: Frequently Asked Questions

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What is Monzo?

Monzo is mobile banking that puts you in control of your money.

Is Monzo a bank?

While Monzo runs a regulated bank in the UK, we’ve partnered with Sutton Bank, based in Ohio, to provide our US accounts. Sutton holds our users' deposits and protects your money with Federal Deposit Insurance Corporation (FDIC) insurance.

Is my money safe with Monzo?

Money deposited in your Monzo account is protected by FDIC insurance, meaning all your money up to $250,000 is guaranteed by the US government.

How do I sign up for Monzo?

Right now Monzo is still in Beta - so we’ve set up a waitlist that you can join here We invite users from that waitlist to join our Beta every week!

What are the requirements to get an account?

In order to open an account with us, you will need to be a current full-time US resident over the age of 18, and possess a Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN).

Why is Monzo in the US listed as a Beta?

We’re still in the early days of bringing Monzo to the US, so we want to make sure we’re slowly rolling out access to our US accounts. Not every feature is available yet - and the features we do have may still need to be ironed out.

By limiting our Beta, we are better able to listen closely to each user for any feedback they have.

When will Monzo leave its Beta phase?

We don’t have an estimate for when we’ll leave the Beta stage yet.

Our main focus is on building a great experience and account for our US users. Once we are at a more complete and polished state, then we will fully launch 🚀

What features are you building next?

We’re always working on new features for our users - for the most up to date look at what we have on our radar, check out our blog and Twitter.

Where can I use my Monzo card?

You can use your Monzo card anywhere Mastercard is accepted 💳

There are a few countries where you can’t use your card - you can find the full list below.

Can I use my card abroad?

Your Monzo card should work anywhere Mastercard is accepted, both in the US and abroad ✈️

We don’t charge any foreign transaction fees and pass the Mastercard exchange rate directly onto you. 

Your Monzo card won’t work in the following countries: Cuba, Iran, North Korea (Democratic People’s Republic of Korea), Sudan/Darfur, Syria, Belarus, Burundi, Central African Republic, Democratic Republic of Congo, Iraq, Lebanon, Libya, Nicaragua, Somalia, Ukraine, Venezuela, Yemen, and Zimbabwe.

Does Monzo charge any fees?

We don’t charge any fees for any type of transaction on your US account. That includes no overdraft fees, no ATM fees, no ACH fees, and no foreign transaction fees  💸

For certain transactions, a third party may charge a fee. For example, an ATM may charge a fee when you go to withdraw. We recommend keeping track of those to avoid large fees being charged.

Does Monzo have any ATMs?

We have partnered with Moneypass, which means you can withdraw from any ATM on this map ( for free 🏧

Outside of that map, your card should work at any ATMs that accept Mastercard. We still don’t charge a fee ourselves, but the ATM operator might.

Right now, only cash withdrawals are supported with our accounts - not cash deposits. 

Can I receive my paycheck in my account?

All Monzo accounts come with an account/routing number that you can provide to your employer, who will be able to direct deposit your paycheck💰. You can download our direct deposit form using this link. Many employers allow you to split your paycheck, which we think is a great way to test out your Monzo account. By splitting your paycheck, you can choose to send a percentage or a fixed amount of each paycheck to your Monzo account. 

Does Monzo work with Apple Pay or Google Pay?

Your Monzo card works with both Apple Pay and Google Pay, so you can use your phone to make payments anywhere they are accepted 📱

You can also use your Monzo card for contactless payments - meaning you can tap to pay anywhere contactless is supported. Look for any of these symbols at checkout:

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What are pots?

Pots are a way for you to separate your money from your primary account. You can create or delete a Pot whenever you need, you can create up to 20 Pots, and you can move money into or out of each Pot as often as needed 🍯

You can also set up a recurring schedule for moving money both into and out of Pots, so you can automate your savings.

Some of our users like to use Pots similarly to a savings account, creating several for specific goals, like emergency funds or vacations. Others use Pots to budget for certain expenses, like setting aside a balance for groceries at the start of the month. And some of our users like to combine these approaches and use Pots in both ways 💵

Do you offer joint accounts or business accounts?

We don’t yet have joint accounts or business accounts in the US.

Right now, we are focused on building our personal accounts so that they have all the features that an individual would expect from Monzo. Once we are at a more complete state, then we will start building new types of accounts.

Are you hiring?

We are indeed! Check out to see all of our available openings.