Hello
I’ve had a search on the Forum under IBAN & I can’t see any recent posts (last post is from August).
I’m starting a new job and they’re a American company so will be getting paid from the USA.
I can’t see the IBAN anywhere on my statements & on the transfer wise website it was able to generate a Monzo IBAN. - Just wondering if this is reliable? The in app help (as usual, has been unhelpful)
Does anyone rely on on their payments coming through on a IBAN?
I’d hate to have to change bank.
There is no iban yet
No one can guarantee that you won’t have problems , and there’s the risk of the money bouncing or worse.
I would use a TransferWise account and then transfer to monzo.
This. It will give you both wire and ACH transfer info for your employer so they will not need to do international transfers at all. You will then convert your USD inside of Transferwise to GBP and then transfer to any UK account you wish.
Echoing everyone else here! You can use an IBAN generator, and it totally can work, but if it doesn’t on any occasion, then there’s very little anyone at Monzo can do to help get your money back! Which is why we recommend and teamed up with Transferwise 
Are they paying you in pounds or dollars?
Whilst the above advice is good you certainly won’t want to be using US account details to receive pounds.
If you’re being paid in dollars then TransferWise will be perfect. If in pounds to an IBAN then I would highly recommenced using Revolut.
As a European living in the UK, I find it very strange that Monzo does not yet support IBAN directly, like most other banks. I am not willing to pay TransferWise’s fees for a service which is free in the rest of Europe.
Surly this must be something Monzo will be launching soon?
There is already a thread about this here.
About the costs, aside from a few notable exceptions, most UK banks charge larger fees for GBP to EUR transfers than Monzo does via Transferwise. My old bank RBS charge £10 per transfer.
You can actually receive payments via IBAN to Monzo but it isn’t fully reliable yet and not recommended. That said, I did personally transfer money from my Republic of Ireland Euro bank account to Monzo in September without any trouble.
Hopefully Monzo will have some news soon but they have been working hard to create a direct link for Monzo to the UK Faster Payments network very recently. A more pressing priority.
That quote is to transfer euros meaning RBS is doing currency conversion. What would they charge to send sterling?
I stated that there were exceptions, Starling and other fintechs like TransferWise being them.
My point is that most bank transfers from most UK banks to an EU bank incurs a fee unlike a Euro to Euro bank transfer in the Eurozone.
I get charged around £7 as I get paid in US Dollars. It’s the only thing stopping me from going “full Monzo”.
I was referring to Sterling as in GBP not Starling
I just posted something on the topic here:
Apologies for dragging up old threads. I probably check back a few times a year for updates on the IBAN solution. I get paid in £ however my company portal requires an IBAN for their records, even though I’m 80% certain they do not use it (below). It is a US company, though everything is done via Ireland/UK.
My payroll has said:
You are being paid out of a UK account however I believe Accounts Payable require IBAN and BIC for all batch payments (including expenses and one off payments). From a payroll specific perspective account code and sort code is sufficient
I could use the IBAN generator to essentially bypass this but is that still too risky?
As I don’t understand IBAN and banking enough, I’m keen to understand if Monzo will ever add IBAN at all or is adding this a massive under taking. I cannot tell you how much i want to ditch Barclays.
Thanks
Cam
I don’t think anyone would want to be the one at fault if your money goes missing,
The general consensus is that it will work most of the time, if it fails it usually goes back to the sending bank, then you have to chase up your work, obviously there’s a chance of the money going missing and would probably be a massive headache for you.
I would stick with Barclays and just transfer the money over each month.
Is this a feature that is being worked on and is likely to be available soon? Unfortunately it is a blocker on me going full monzo 
Nothing has been mentioned or hinted at so I would say the answer is no to both of your questions. Sorry
So if I were to use an IBAN generator as mentioned above
Out of curiosity why would it work at all if it is unsupported?
From all that’s been said so far:
