Frequently Asked Questions

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What is Monzo?

Monzo is mobile banking that puts you in control of your money. With our intuitive spending and saving account and no overdraft fees you can optimize your budget, manage payments and subscriptions, and save money. Sutton Bank helps us hold our users’ deposits and protect your money with Federal Deposit Insurance Corporation (FDIC) insurance.

What features are the Monzo team working on?

To get the most up-to-date look at what we’re currently working on, check out our forum or Twitter page! If you want a general idea of what’s on our radar - you can check our product roadmap.

Is Monzo a bank?

Monzo is a mobile banking app for money management, budgeting, and saving.

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 FDIC-insured up to $250,000 dollars.

Is my information safe with Monzo?

We take your security very seriously - whenever possible, we store information in encrypted states and restrict sharing data with third parties. 

To operate accounts in a regulated industry like financial services, we do have to share data with others at times - including our partner bank and regulating bodies.

If you want more information on what we do to protect your privacy, you can read our privacy policy.

How can I open a mobile banking account with Monzo?

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 asking me to take a video during signup?

Sending your banking app a selfie might sound a bit weird. But it helps us get you up and running as quickly as possible – while still making sure we're following all the regulations we have to as a financial service.

A basic legal requirement for financial services is that we have to know exactly who has accounts with us. These checks – known as KYC (Know Your Customer) in the banking world – cover all the things you're probably used to from other banks, like ID verification and proof of address.

Since we don’t have physical branches, we’ll ask in app to see some form of ID. Then, to confirm you're really you, we'll ask you to take a selfie video. This way, we know that the ID you've provided belongs to you. And it means we can confirm that you consent to opening the account. 

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 our personal accounts are at a more complete state, then we will start building new types of accounts.

Can I get a Monzo account in the US if I already have one in the UK?

Unfortunately, we aren’t able to provide both a US and UK account to the same user at the moment. We do hope to provide this in the future, so keep a look out for announcements in this area! 

For now, if you are interested in switching your UK account to a US account, reach out to us in-app or at

Does Monzo charge any fees?

We don’t charge many of the unnecessary fees that banks charge. 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.

How long does it take for my card to arrive?

Our cards generally take about 5-10 business days to arrive. They are sent via standard USPS mail from Southern California.

Are you hiring?

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

Using your card

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, Russia, Somalia, Ukraine, Venezuela, Yemen, and Zimbabwe.

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. 

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:

Screenshot 2021-02-22 at 17.29.17

Transferring Money

How do I add money to Monzo?

On the homepage of your Monzo app you can tap the Add money button, which will provide multiple options for funding your Monzo account.

At the moment, there is no way to deposit checks or cash to your Monzo account, though we do hope to support these in the future.

How do I transfer money to other accounts?

You can set up transfers to other banking accounts you have by connecting those accounts to Monzo. 

From the home page of your Monzo app, tap on the Profile Picture icon in the top left then tap on Add another account. Follow the steps there to connect your other account. Once you have another account connected to Monzo, you can transfer money to and from that account by swiping over to that account inside the Monzo app.

You can also transfer money using the other service’s banking app. They will ask for your Monzo account and routing numbers, which you can find by tapping Manage on the home page of your Monzo app. 

How long do transfers take?

Transfers and payments using your debit card should appear in your Monzo account instantly.

All other transfers using your account and routing details or using a connected account are sent via ACH. ACH is the most common form of transfer in the US and typically takes 2-3 business days (which means excluding weekends and federal holidays).

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💰. If you need a direct deposit form, just let us know and we'll send you one right away. 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. 

Can I connect my Monzo account to other accounts using Plaid?

Not yet - but we do plan to integrate with Plaid in the future to allow our users to easily add their Monzo account to other accounts and financial tools. 


How does Monzo help me budget?

Monzo provides several tools designed to help users get visibility over their money and reach their financial goals. 

Our app has a built-in budgeting system that will automatically track and categorize purchases made with your Monzo card, so you can see how much you are spending in individual categories each month. 

You can also create Pots, which help you set aside money - for more detail on how Pots work, check out the next question in this FAQ. 

We also know that your money doesn’t just live inside Monzo, so we allow you to connect external checking, savings, and credit card accounts. After connecting these accounts, you can get complete visibility over your spending without leaving the Monzo app.

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 💵