Hi,
If I get a Monzo current account and then at some point become non-UK resident (due to working abroad etc), what would become of my Monzo account?
What are the UK residency requirements exactly? Do I just need to provide you with a valid UK address that I can access or do I actually need to be resident there?
Thatâs a really really good question. Itâs the sort of thing Iâd usually expect to find in the Terms and Conditions but there is no mention of this. There is actually no mention at all regarding residency requirements.
I know Monzo asks for an address during sign up. They may ask for proof of address, and the address they ask for must be in the UK. But is this requirement actually written down somewhere?
Ultimately, if we canât find a written reference to this, then youâd likely need to ask their support team.
There are a couple of things Iâd note though:
Going down this rabbit hole I find the T&C very confusing, and it certainly doesnât clearly state the address requirements: Clause 13.3 actually states
You must provide us with an email, postal address and phone number and let us know of any changes.
It doesnât actually say anywhere that I must provide them with my details. It says an address. It doesnât even specifically say that I must be reachable via that address, or that it canât be a PO Box, or that it must even be valid. That is a major shortcoming and I have never seen this sort of formulation before. (Thatâs quite apart from the question how does âan addressâ change? My address may change, but I have never experienced âan addressâ to change - maybe because Iâm not old enough to remember the introduction of post codes.)
Clause 16.1 further states that they will âcheck your identityâ (which they have redefined to include your address) and that you may have to âprovide some documentary evidence to help confirm your [âŚ] addressâ So, there is an implication that the address you need to give needs to be verifiable as yours, but itâs not explicitly stated, which is a serious shortcoming in my opinion.
And it most certainly doesnât state anywhere in those T&C that the postal address needs to be in the UK, or what happens if you move out of the UK.
So, this is all very very muddy âŚ
It sounds like asking the question via the in-app chat is the best way to get a definitive answer.
It would be great to hear what they say 
I will be very interested to know about this too as Iâm abroad at the moment. Although I will be coming back to the UK next year.
I would assume as long as you can provide them with a UK address in sign up it doesnât matter as much after that. But then it raises the question what if a non-UK resident orders a card to a friend in the UK and then uses it just abroad. Wouldnât that be considered a loophole?
Yes. It is based on âresidencyâ, i e. living there for most of the year, not just having a friends, family, firm etc that would let an applicant use their address. So typically you would be on the electoral register and or council tax register and have some consumer credit footprint.
I guess it comes down to a question about reality vs legality, doesnât it?
In reality youâll likely need a record with a credit reference agency to verify your ID, or otherwise a council tax bill or other proof of address. In reality that will prevent those living abroad from signing up for Monzo with a friendâs address.
In reality they are also unlikely to just ask you out of the blue âhey, do you still live in the UK?â (although thatâs not unheard of, see the link further up), and thus youâll most likely be fine in practice.
However, it is till a very valid qustion: what is the actual policy? I think for most people itâs still important to do the right thing, and if you do move abroad after signing up to Monzo, you want certainty (as I said : other banks have in the past shut down accounts after customers moved abroad)
As such it is very disappointing that such an important aspect is not covered by their T&Cs. (but then their T&Cs seem to be lacking severely in defining the residency requirements, which is really quite shocking)
I expect this is the right time to ask someone like @naji who might be able to clarify this is a little?
Donât the EU rules say that any EU citizen can open a bank account in any EU country?
I posted this some time ago⌠(click the down arrow for full article)
Monese may be an option: monese.com
Yes and they also have great customer service too.
When I joined you also got a ÂŁ5 welcome gift when you opened a Monese account and deposited ÂŁ10. Try the code MQF6Y4C6 as I think it may still work
Note: please note this onebox is not a referal link but just goes to a regular URL
It doesnât feel like good value considering practically no other bank charges a regular fee to hold an account with them.
But when there is currently no option to send SEPA payments from Monzo and Starling and no option for accounts in £ and ⏠and no PayPoint and PostOffice services, it makes them a great choice
Evanâs question reminded me of this thread!
Would the same apply here? 
Sorry Marcus, I have just retracted that statement! I am trying to get a bit more clarity on this now 
I saw it change before my very eyes! 
Cheers, Iâll keep an eye out for an official stance on the matter 
It seemed a bit off? But just reminded me of this thread 
Further to this, I had accounts with TSB, Nationwide, Lloyds, NatWest and Metro Bank before I left the UK.
TSB, Nationwide & Lloyds had no problem with me changing my address (although I subsequently got letters from both demanding my tax status and where I pay tax).
Metro Bank wonât accept non-UK addresses and told me I would have to close my account. As a result, as far as they are concerned, I still live in London. I happened to be in London just before my card expired. I just went into their branch, told them I was going overseas on a holiday and asked for a new card. Got it printed on the spot. I have a friend living at my old address, so mail isnât being returned to them. Of course Metro are the one high street bank that doesnât charge for Euro transactions.
NatWest also had no problem with me living in Spain, but as they have an offshore branch in Gibraltar, I just opened an account with them there and closed the London account. Itâs currently otherwise impossible to open even a basic bank account in Gibraltar (plenty of opportunity for Monzo down here).
I have been a faithful user of Monzo from the start, I have now moved back to Spain after 19 years in the UK.
My high street banks (Barclays and Natwest) were both fine with the change of address, I am using less and less Monzo over here though and more and more Revolut.
I have experienced an address to change. 
Royal Mail changed one of the digits in the postcode of the house my parents live in a few years after they moved in.