HOW DOES MONZO WORK?
Similar to a typical bank, Monzo operates the same way but provides its clients with much more. You will receive a free coral Mastercard when you sign up for a Monzo current account, which may be used practically everywhere in the world. The software makes it simple to keep tabs on your spending and savings. You can’t physically visit a branch, which is the only distinction between online banks and conventional ones. However, you may freeze and unfreeze your card on the app if you misplace it. If you have any inquiries or issues, you can also speak with the Monzo customer care staff via live chat in the app.
WHAT FEATURES DOES MONZO OFFER?
Get paid a day early – Monzo will advance your money early at no additional cost if your pay is received into their account.
Salary Sorter – To avoid going overboard each month, balance your finances between savings, bills, and expenditures.
Bills Pots – To prevent unintentional spending, put your bills’ money in pots. When a bill comes due, it is immediately paid for you out of the Pot.
Instant notifications – Receive immediate updates to your smart device every second you spend.
Direct debits – Pay your direct debits using your Monzo account, and the company will let you know if the amount is larger than normal for the next month.
Round-up transactions – You may automatically put the difference in your transactions into savings accounts by rounding up your transactions to the next pound.
Fee-free spending abroad – Monzo uses the currency rate provided by Mastercard and does not charge an extra fee.
