The 25 full accounts you get just blow crappy pots/spaces out of the water. You have enough accounts to dedicate one to any area of your financial life you can think of. There are +1 accounts now too, so you can add someone to an account for another EUR 3 per month.
They have other stuff like dual PIN for physical cards, where you can link each PIN to a different account. They give you five virtual cards, plus one Maestro debit, one Mastercard debit and one Mastercard “credit”.
The credit card without credit and their commitment never to lend are very interesting. They give you some control over where your money is held as well.
They have a web app and there’s a free desktop app as well
There are so many features, it’s possibly a little over the top.
If you’re not too bothered about a full bank, try monese… The biggest benefit they provide is unlimited no-fee interbank rate EUR<>GBP conversion (though ONLY between your own Monese accounts - don’t send direct to a GBP account from your EUR account, for example).
Unfortunately it turned out to be impossible to open a Moey account, even though I’m now formally a resident of Portugal.
The two processes for verifying identity require a card. They literally require a card. Despite their website saying a “residence certificate” is enough, they can’t actually verify my residence certificate, because it’s an A4 piece of paper, not a card. And they can’t verify my passport either, because it’s not a card.
Portugal has a lot going for it but online services and computer systems have a lot of room for improvement. Huge opportunity really. Monzo should be there!
That’s a shame! Portugal is a bit restricted with banks and I think that’s no other bank like Monzo opened something in Portugal. I was going to recommend Monese but that’s the same as Revolut.
I guess you should try later, and see if you have any success.
And for now, I would definitely recommend you to open a “Normal” bank account as if you going to live there, you will need to pay services and to the government and that’s possible on the Portuguese bank account (which Moey has as well).
Yeah, hopefully they will upgrade their systems soon.
The irony is that Residence Cards do exist. Family members with non-EU nationalities are issued with them. So they could open a Moey account but as an EU citizen I need to wait 5 years until I get my Permanent Residence Card before I can open one, haha (or at least until Moey’s verification system is upgraded).
