Monzo Ireland FAQ

Monzo Ireland
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:megaphone: Monzo is Launching in Ireland! Your FAQs Answered (Personal & Business)

Hey everyone! :waving_hand: We’re Monzo, the bank that’s new to Ireland but already trusted by over 14 million customers in the UK. We’re getting ready for our full launch and wanted to get ahead of your questions.

Below you’ll find quick answers to the most common questions about Monzo Personal Accounts and Monzo Business Accounts.

:bank: Personal Account FAQs (Quick Facts)

Who is Monzo and what are you offering?

We’re a bank focused on making money work for everyone. We’ve been at it for over 11 years in the UK, and now we’re bringing our mission to Ireland. We’re launching with a free current account that has no sneaky maintenance, ATM withdrawal, or foreign exchange fees.

Is Monzo a real bank in Ireland?

Yes! We’re a fully regulated Irish bank with an office in Dublin, an Irish banking licence, and local Irish IBANs. We are authorised and regulated by the Central Bank of Ireland and your eligible deposits are protected up to €100k under the Deposit Guarantee Scheme (DGS).

How safe is Monzo?

Absolutely safe. We’re a licensed bank regulated by the Central Bank of Ireland, and the €100k DGS protection applies. We also use industry-first security like trusted contacts for large payments, QR code scanning, and features you know and love like instant card freezing and biometric login (fingerprint/face ID).

Does Monzo offer savings?

Yes, we do! You can earn 1.6% AER (Annual Equivalent Rate) variable interest on your savings, paid monthly (and subject to DIRT).

Why is Monzo different?

We focus on transparency, fairness, and solving your financial problems. We offer banking that keeps your money safe, helps your savings grow, and is available 24/7 via our app—it’s more than just a payments app!

:rocket: Early Access Waitlist Info

Why do I have to join a waitlist right now?

We’re launching fully very soon, but until then, the waitlist gives you early access. It allows us to work with you to shape the Monzo experience in Ireland before the full launch.

How does the waitlist work?

  1. Join the waitlist and download the Monzo app to check your position.

  2. You’ll get opportunities to move up the list and earn rewards.

  3. Once you reach the front, we’ll invite you to sign up for early access.

  4. Activate your card and we’ll give you €25 to get started!

:briefcase: Monzo Business Account FAQs

How much does Monzo Business cost?

Early access customers get any plan completely free for the first year!

  • Our Lite plan is always free.

  • After the first 12 months, Pro is €7/month and Team starts from €20/month.

  • We don’t charge fees for transfers in the Eurozone.

Is Monzo Business available to sole traders?

Yes! All our Monzo Business Accounts are available to eligible sole traders and limited companies.

Can I deposit cash or take out a loan?

  • Cash Lodgements: Not right now, but we are actively working on it.

  • Business Loans: We don’t offer business loans yet. Our current focus is on cashflow and tax management tools, but we hope to offer lending in the future.

Does Monzo Business have online banking?

Yes, you can manage your business account both through the mobile app and using our web app on your laptop or computer.

:person_raising_hand: Getting Help & Contact Info (24/7 Support)

How do I contact Monzo if I need help?

Our team of real humans is on-hand 24/7 for anything urgent.

  • In-App Chat (Best option)

  • Email: help@monzo.com

  • Toll-Free Irish Number: 1800 849 291

  • Calling from outside Ireland: +353 1233 7650 (operator charges may apply)

What questions do you have about Monzo that we haven’t covered here? Let us know in the comments below!

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Amazing, well done!

Now, the most pertinent question… can UK users refer Irish users and get referral bonuses? :innocent:

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I’m curious if UK user will be able to apply for an Irish account? Would be handy for many of us in Northern Ireland with family/friends south of the border.

Or at least having an Euros account to send/receive payments without needing to exchange GBP.

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I’d expect you’ll need a Republic of Ireland address for that. But just having a UK-based Euro account (or even Euro balance pot) would be beneficial indeed.

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Unfortunately, you can’t have Monzo accounts in more than one country at the same time. So if you’d like to open a Monzo account in Ireland, you’ll need to close your existing UK Monzo account first.

When you close your account, there’s a 30-day cooling-off period. During this time, any new applications (including for an Irish account) will be automatically declined, and the 30-day period will restart if you try to apply again. Once the 30 days have passed, you can apply for a Monzo account in your new country, as long as you meet the usual eligibility checks.

We know this isn’t ideal, especially if you’re moving country, and it might mean you need to use another bank in the meantime. We’re working on improving this in future so the process is much smoother.

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Monzo Ireland is here! 🇮🇪
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this seems unnecessarily punitive