Hi! I know people in the UK are starting to use Monzo for their salaries and I might be in a bit of an unusual situation here, but for the last few years I’ve worked a bit in other countries and it is an unbelievable hassle to set up foreign bank accounts. Would there ever be a way for my employer - regardless of where they are in the world - to pay my salary (in euros or whatever, no currency exchange) into my Monzo account?
International Payments are required to receive the money from a non UK account, this is something we’re working on and we will be bringing in the future
In the meantime take a look at the Transferwise Borderless account, or Starling which announced SEPA support, or N26 which will have SEPA and is soon planning to launch in the UK.
Or Monese or Fire they both have EUR accounts with IBAN and offer linked GBP accounts with UK sortcode and account numbers. Or you can try Bunq for a EUR only account with IBAN, but no GBP facilities available.
BUNQ from the Netherlands is also a great alternative within the SEPA zone.
Whereas Monese and Fire offer Mastercard Debit, if you travel to Netherlands and Germany a lot you may find Bunq’s offer of a Maestro card and/or Mastercard Debit useful. In Netherlands in particular there is higher acceptance of Maestro than Mastercard Debit in some areas and at certain retailers
FYI Transferwise Borderless charges 0.5% to change from EUR to GBP and there’s a £0.50 charge to withdraw the GBP to your UK bank account. They have a debit card, though, so you can spend it direct from that for free.