Monzo Europe

I imagine it’s complicated greatly by Brexit, in particular with no trade deal currently in place, but here’s my wish/idea anyway. Is there a wish for this already? I couldn’t find it.

With the real Brexit approaching end of year I’m making a move to Portugal and would love to keep using Monzo as my main account while living in Portugal. From what I can tell there’s no real equivalent to Monzo available in the rest of Europe yet.

N26 is OKish basic app and is avail in Portugal

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Or Starling, they offer a euro account which you can use the same card linked to both uk/eur accounts

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Doesn’t have my most used feature in Monzo: Shared Tabs

Personally, I’d just keep using Monzo until they said I couldn’t, as you’ve already got an account.

Oh that’s interesting. So they have an EU banking licence. Does that mean I can pay for something in Portugal using Euros from a Euro account? What about fee-free withdrawals from Multibanco ATMs? And can I associate a Portuguese address with the account or would it still need to be UK-based (this may be helpful for establishing residency for instance)?

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Starling is in the process of setting up an EU banking licence but currently operates a euro account under the UK licence. You can be paid in euro into your euro account but can’t pay in euro cash or cheques, and you can opt to use your card in € (a 30€ ATM withdrawal will debit exactly 30€ from your euro account) or in £ (a 30€ ATM withdrawal will dynamically exchange to something like £26.90 fee-free in your sterling account). Starling doesn’t add ATM fees but the machine may charge. The address would have to be a UK address.

Alternatively look into Monese – (referral), which may cope with the Portuguese address OK and which is a great account – you may find the monthly fee options work out cost-effective and Monese will allow euro/SEPA direct debits, or TransferWise, Revolut, N26 or a combination of all these.