One Account, Multiple Currencies

Feedback & Ideas
1

Hi Monzo team,

I’m a big fan of Monzo and have lived in both France and New Zealand. I love the app, but one limitation I feel strongly about is not being able to hold multiple currencies in a single account. I’d love to have one Monzo account where I can store pounds, euros, and New Zealand dollars simultaneously, rather than juggling multiple accounts or third-party apps.

I understand there are regulatory and technical challenges, but here’s a practical way it could work:

  1. Multiple currency balances in one account: Users see a single account with separate balances for each currency.

  2. Virtual IBANs for local payments: Each currency could have its own virtual IBAN so receiving local payments in EUR, GBP, or NZD is seamless.

  3. In-app currency conversion: Users can convert between currencies at competitive rates within the app.

  4. Pilot with popular currencies first: Start with GBP, EUR, and NZD, and expand based on demand.

This approach would give users the simplicity of one account while supporting international life and travel. I truly believe it could make Monzo the go-to bank for global-minded users.

2

Revolut/Wise would be the answer here.

Possibly when monzo launches in the EU they may allow multiple currencies be held but they don’t allow for USD given their launch in USA.