Not yet Current Accounts don’t yet have the functionality to receive international payments and as a result you won’t have an IBAN yet.
Naji can you confirm that Monzo CA WILL be able to receive AND send international payments/transfers? And if so is there a rough timeframe?
I tried accessing the roadmap but got an error message. Thanks:)
No support for IBAN/BIC and thus SWIFT. Roadmap says 6 to 12 months.
Not sure if it helps, TransferWise recently reduced some of its (already low) fees. I suspect you may already be aware of this service and/or using it?
What’s in it for you: A free money transfer
And I’ve found Western Union offer good rates if you’re willing to wait a few days for the transfer. WU and Transferwise only go one way, though.
As @Johnny said Transferwise are great and in not so distant future Monzo are going to bring them in Marketplace I think.
Yup, thanks though.
I’d just love if I could do everything through ONE app/bank rather than having to keep track of which app is for which service.
Ohhhh that could be VERY interesting!
I think give Monzo a year or so they do have plan to make Monzo App your one stop for most financial needs. Personally I am willing to wait for product to develop and mature.
Thanks I have no clue as to why I couldn’t access it…
I like the 3-6months goals, plenty of very important features!
For international transfer however I’ll reserve judgment until I see what their proposed fee is
Same here, I just want to know that there a plans to make such services happen
I found this reference to what I said earlier ️
Was thinking about creating a button to easy share the account details with 3rd party apps for easy transfers between contacts that don’t have monzo
and also share IBAN too.
some banks do this where it shares both. Monese have it where a dialogue asks if you want to share local or international format
The android app already has a share account details button.
Where is that? Can’t find it in the preview android app.
I’m on the main app, and not the separate preview app. It’s in the hamburger menu in the top left > settings > scroll down to the bottom of the bank account info and “share account details”. This uses the standard share facility in Android.
On the preview app long press the account number and it’ll copy it into the clipboard. I find it’s a bit fiddly to get the exact place to press.
I actually thought of using TransferWise for IBAN/BIC transfers on Monday. Amazon UK have changed their affiliate payouts to go via IBAN instead of the old sortcode/account number - but my business bank account (Cater Allen) doesn’t really “do” IBAN (you have to route it through another bank with a reference code - something Amazon won’t allow). So I tried using my TransferWise Borderless account - Amazon UK will only pay in GBP so setup a TransferWise Borderless GBP account… And no IBAN/BIC Only available on the EUR accounts sob.