I need a Spanish account to get paid by the new company.
Withdraw from abroad are free up to £200 every 30 days. There’s a 3% charge on withdrawals after that (in London I am used to pay almost everything via card, but in Spain I will need to have cash with me for small payments).
Legally I am not actually sure how long I can keep a Monzo account if I am not resident in UK anymore.
Anarchist
(Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)
4
You can keep it for as long as you like. You’ll be better off with a Spanish account, though.
My idea was to keep the UK Monzo account as long as I can, BUT if I can create a second Monzo account in Euros from Spain… that would be the best solution from my perspective.
If there is no option to create a Monzo account in Euros from Spain, I will have to create an account with a Spanish bank when I will be there.
Because a Spanish account is needed to setup some services. Want broadband with Movistar? You need a Spanish bank account (not a Euro account with an IBAN, one from an actual Spanish bank). So even if Monzo had IBAN it would still be no good.
I live between the UK and Spain with homes in both. I use a Spanish bank (Caixa, which I recommend) and Bunq as my ‘spending’ card.
This might have been the case previously but now is in breach of EU regulations so will likely have changed.
OP is describing the perfect use case for Revolut. It has a full Euro account built into it including euro direct debit which is what you need for all of these services.