Transferring money from my Monzo to my Trading account

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1

Hi There,

So i would like transfer money from my monzo into my Saxo trading account which is in Denmark. The issue is that Saxo will only accept money that’s come directly from my bank account. As we know Monzo uses Transferwise to do international payments which means the money is not directly from my Monzo bank account but from a third party (in this case Transferwise).

My question is, do any of you guys know a way around this or do you have any info on if in the future Monzo will allow direct transferring of money from UK to international account without the need of Transferwise?

Thanks!

2

Use another bank account is the only solution I can think of. Starling is the first one to come to my mind. It’s very similar to Monzo from what I’ve heard.

I guess it might happen eventually, but I’d say it’s unlikely in the near future, unless it’s going to be part of Monzo Plus (this is very unlikely in my opinion).

3

Simple answer is to use Revolut. You have your own Euro account with them.

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4

You could open a TransferWise Borderless account and go from Monzo → TW Borderless → Saxo. The TW Borderless will be your account (as opposed to normal TransferWise), so I imagine this will work. It’s easy to create a TW Borderless account, especially if you already have a normal TW account.

5

Use the Starling euro account.

6

This wouldn’t work. You can’t send money directly from your TW account it goes via normal TW routes in my experience for Euro payments it doesn’t come from your own TransferWise account.

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7

Transferring money in the same currency as your Monzo account is free, while Monzo’s international transfer fee is €0.5-3.0 website!!

8

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