Sorry if this has been asked before. I need to receive a payment to my UK Monzo account from the USA (I’m not sure if they have a Monzo account themselves). I’ve looked into the Monzo.me link but not sure if this can be used for overseas transfers. If anyone can shed some light on the best way to do this that would be amazing!
It can. I’ve had friends and family back in the us send me money via monzo.me
Oh thank you, that’s interesting. Was there any fees for doing so?
Unfortunately at the minute you cannot receive direct international credit payments into your Monzo account.
But you can send it to your wise account then to a direct transfer from wise to Monzo!
No fees. It will depend, I suspect, on the American bank. I believe it’s treated like a foreign currency card payment, and some banks apply a small fee to those, but usually cheaper than the fees platforms like Wise charge, monzo.me will also be instant.
Another option, if you’re both open to using a third party is cash app. They allow payments between US and U.K. users and is fee free and fairly quick.