Earning australian dollars

Hi! How can I do it to set up a second Monzo account? Can I live somewhere out of the UK and still keep the Monzo account?

I work as a self-employed and I earn australian dollars. Am I gonna lose money on the Conversion to Pounds?

Yes and yes.

Also, check with whoever is paying yoy they are happy sending money to overseas accounts. Check your considerations around tax, (don’t want to be taxed by the AU government and the UK) and seriously consider opeing an AU account if you intend to stay for more than 30 days which is basically the standard for what is considered residency for tax.

Have fun and make sure you are speaking to professionals about this arrangement rather than asking randoms on a forum :blush:


Everything Stuart said is the guidance I would of given

Monzo does not receive foreign funds reliably, and I’d check to see if you should have a business account.

You’ll want a TransferWise account. It’ll provide you with AUD$ bank details.

From the website: “ Sign up and get verified online — without a local address or visiting a branch.”

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