International Transfer tracing / source of funds

When making international transfers from Monzo account, which bank account details would the recipient see as the source of funds? Is it going to my Monzo bank account details or some other random Wise details?

Where can I find out what the intermediary banks you would be using to transfer to a specific bank in USA?

Can my Monzo account receive GBP and other currencies?

What are the fees involved in sending and receiving funds in GBP or in another currency like USD, AUD etc?

Monzo have partnered with Wise to allow you to send money internationally. All costs and such are explained in app if you go through the steps. This should answer all your questions.

See here:

You can only receive GBP to your Monzo account.

More information on this is here:

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What happens if someone sends USD, AUD or EUR to the account?

Read the article, it is covered in there :slight_smile:

Most confusing article I have ever seen especially from a regulated bank. I prefer the fees to be as clear as black and white. What is the answer to my question?

What question are you asking now?

You keep asking different ones, all of which have so far been answered in that article or in this topic.

Outstanding questions:

  1. Since I can only receive GBP in Monzo account, what happens if someone sends USD, AUD or EUR to the account? What fees does Monzo charge for the conversion?
  2. When sending international payments from Monzo account using Monzo app, what source account details do the recipient see, is it my account details or some Wise details? This is important as the recipient bank needs to be able to confirm the source.
  3. Where can I check what intermediary banks (if any) is the payment likely to use and their charges?
  1. There’s no fee for receiving money and the conversion rate is near perfect BUT inbound international transfers are not officially supported by Monzo. Some banks mainly within SEPA can reach Monzo but others cannot and the money will be returned to sender. It’s easier to just use another bank (or Wise) if possible.

  2. I don’t know the answer to this, but I would say you’d be better off creating an account directly with Wise - you then end up with your own personal account/IBAN etc. which will help you in this situation.

  3. Not sure anyone on the community will know the answer to this - we’re not staff by the way! Best to ask in app via chat or better still, do what I mentioned above and just deal with Wise directly.

The Wise integration is great for people who just need to do the occasional transfer, but if you need something more advanced (like you do in your situation) it’s better to just go direct.

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It doesn’t matter to us how Monzo provides international funds transfers, whether via Wise or not, so long as it is legal and source of the funds are easily tracible. Wise traceability is not possible easily from what I know.

Basically you are saying not to use Monzo for international funds transfers in. For outgoing if Wise can be used, then to use Wise directly.

It would have been better to be clear on this, rather than an article that’s very confusing.

I like Monzo for other services. It will be good if one day Monzo could offer international transfers like a proper bank.

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I have received Euro deposits into my Monzo account so it is possible to receive currencies other than GBP. It is just converted into GBP on receipt.

Whilst international transfers into Monzo are not officially supported, if it works it is possible to deposit other currencies.


(I have used a custom category)

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If you don’t want to use Wise then you’ll need to use another bank.

You can make up your own IBAN using some web tool, but it’s not guaranteed that things will arrive so it’s not something people should risk, I think

But if someone feels adventurous and is happy to risk their money getting lost in the ether, then there are tools out there

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"You can make up your own IBAN using some web tool, but it’s not guaranteed that things will arrive so it’s not something people should risk, I think

But if someone feels adventurous and is happy to risk their money getting lost in the ether, then there are tools out there"

Sounds like unregulated cryptos to me. money can get lost in the ether. We are using banks for safety, but not for that.

I’m not sure how unregulated cryptos and regulated banks come into play here. Regulated banks don’t have to offer an IBAN and indeed Monzo don’t. But the nature of bank details is that if you want to risk your money getting lost for good, you can generate yourself an IBAN that may or may not work – an option not endorsed by Monzo (or me, or anyone really). Otherwise you can just not use Monzo for this

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You have a choice, use Wise, use an IBAN generator and risk it. Use an actual account that has international payment support.

That’s as cut and dry as it can be.

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Buyer beware style.

It seems “unwise” choice to use Monzo/Wize for international payments.

Ideally we want Monzo representatives to respond, rather than people’s opinions.

I don’t see the issue, it’s clear from all the marketing that Monzo don’t fully support international payments. If someone happens to ignore that warning when signing up for an account… Well there’s nothing Monzo can do about that

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It seems unwise to be hitting this tone with people trying to help. If you want Monzo to respond, contact them, and don’t come on a customer forum. Your attitude is not welcome here

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FSCS is there to settle any shortfall + additional compensation, which ends up coming out of Monzo’s profits. So best to either provide the service properly or not provide at all.

I’m so confused now. What does FSCS have to do with anything?