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Monzo - Skip Queue via MSE
Monzo - Skip Queue via MSE

Monzo - Skip Queue via MSE

I imagine everyone already knows what this app is, essentially a pre-paid card that syncs every purchase instantly with your phone. Excellent exchange rates if you're planning on travelling.

Usually there's a waiting list that takes around a week. Simply go on the link and type in the email address you want to register. You can use an email address you already have on a waiting list to instantly move it up.

Sorry if this is already on here. I could only find the golden ticket referral scheme, which has expired.

monzo.com/mon…rt/

Top comments

HankHandsome27 m ago

for me, metro bank is a better option and you don't have to pay a £100 …for me, metro bank is a better option and you don't have to pay a £100 "fee" with them either.and yes, I know you get it back ..even a basic account with metro will give you a contactless debit card.


There is no "Fee" its the initial loading of £100 that you can either withdraw or spend wherever you want, stop scaremongering.

I'm more than happy with mine and I've used and abused it on holiday a fair amount. The app is great and gives a good break down of spending.

There were issues when I was on holiday and was unable to withdraw using the card, had to use a different one. When the issues were fixed I informed them of the exchange rate difference and foreign currency fee's I had incurred, all refunded without a question. So the customer service is there too

I'd happily recommend Monzo, not sure it should be a deal tho?

So let me chuck in my 2 cents for what it is worth.

I am currently in Florida on holiday. Same holiday as last year. I have a monzo, revolut and Halifax clarity card. One of my party has a Barclaycard platinum.

Revolut is dead in my opinion. Whilst it is free to set up you need to look at the limits for top ups and withdrawals as after 200 quid you incur fees. I really like the fact you can exchange between currencies in advance allowing you to jump on a good rate rather than relying on the rate at the point of sale. I used it last year and these limits did not apply. This year I have not bothered with revolut.

Monzo is a great card that just has pounds so the conversion is done when you make a purchase. There have been no fees and about 700 quid has gone through as a mix of purchases and cash. The app gives you immediate messages when you use it telling you the sterling values. Also gives you a total of your daily spends. Topped up in a similar way to revolut via your debit card. Pin code and card managed from app. There isn't much to separate revolut from monzo past the fees. Exchange rates are decent as well. Pretty much same as halifax credit card rates. Well as far as I can see. Not had any issues with it being accepted

Halifax clarity card is my weapon of choice. Mainly as I have had about 80 dollars in cash and managed so far to do everything on my card. Load up all my spending and pay it off when i get back. The Halifax app gives you a running total along with pending transactions. I have used it in Spain for cash and just paid the equivalent in pounds straight off the card. But even with interest I think the highest interest rate is 21% so look at it as less than 2% per month so if you took 500 quid at the start of the month and didn't pay It off for a month then you would get less than 10 quid interest. In reality it would be far less than that. Been getting the best exchange rates on this.

Barclaycard isn't really too different on the whole from Halifax but the transfer rate seems to be a smidge under.

Any fees from atms are a result of the atm owner and not the service provider.

In summary monzo if you have credit issues maybe or work in cash. As you can freeze the card on the app if you lose it. But I really like the clarity card and have usednit for the past 5/6 years of holidays through Europe usa and even in Mauritius without any problems.
Edited by: "Flancrust" 14th Aug
70 Comments

for me, metro bank is a better option and you don't have to pay a £100 "fee" with them either.

and yes, I know you get it back ..

even a basic account with metro will give you a contactless debit card.

HankHandsome27 m ago

for me, metro bank is a better option and you don't have to pay a £100 …for me, metro bank is a better option and you don't have to pay a £100 "fee" with them either.and yes, I know you get it back ..even a basic account with metro will give you a contactless debit card.


There is no "Fee" its the initial loading of £100 that you can either withdraw or spend wherever you want, stop scaremongering.

I'm more than happy with mine and I've used and abused it on holiday a fair amount. The app is great and gives a good break down of spending.

There were issues when I was on holiday and was unable to withdraw using the card, had to use a different one. When the issues were fixed I informed them of the exchange rate difference and foreign currency fee's I had incurred, all refunded without a question. So the customer service is there too

I'd happily recommend Monzo, not sure it should be a deal tho?

Currently in Indonesia, monzo completely changes the dynamics of money. It's also very easy to send your mates request for money when you pay for items too. Very easy to use

J113513 m ago

There is no "Fee" its the initial loading of £100 ..


.. which is why i acknowledged that with the word "fee" in quotes.

i know it's not a "fee" but many people who are interested in a second account might not necessarily have £100 to put in to it initially - I know I didn't and that's why i opened an account at metro.

Congrats on your first post. Don't be put off by the neg-heads

HankHandsome2 h, 3 m ago

.. which is why i acknowledged that with the word "fee" in quotes.i know ….. which is why i acknowledged that with the word "fee" in quotes.i know it's not a "fee" but many people who are interested in a second account might not necessarily have £100 to put in to it initially - I know I didn't and that's why i opened an account at metro.

​the hundred pounds can be spent straight away, or withdrawn from a cash point.

what is the metro card anyway, is it just a normal bank account with a contactless debit card?

I think you miss the point of the monzo card.

danfr9 m ago

​the hundred pounds can be spent straight away, or withdrawn from a cash p …​the hundred pounds can be spent straight away, or withdrawn from a cash point. what is the metro card anyway, is it just a normal bank account with a contactless debit card? I think you miss the point of the monzo card.


I'm not missing anything.

If you're on a limited income, you might not have £100 just laying around to deposit into an account for a day or two, or for however long it takes for the card to be delivered to your house.

metro bank is just that - a bank. the account i opened was a normal basic bank account with a contactless debit card.

I used it on holiday recently and worked a treat.

Just need to initially load it with £100, which was not an issue.

Wouldn't go on holiday without it again!

This is a great card which proved to be very good for
Our recent Holliday. Had no problems with it and when I got back I just used the rest of the money left on the card like a normal Visa card. Would definitely recommend for anyone going away on holiday as good exchange rate and you don't get charged to then withdraw any cash left on the card when you get home. I got mine via the Martin Lewis website and it arrived within two days.

This is miles better than metro. Monzo is international free transactions and ATMs and the send money feature is awesome.

Metro is a hit on your credit report and only Europe! No where near the same level imo.

Great post, Welcome to the HUKD Don't take notice of the negative thread spoiling posts. I'm with Monzo & Love It. Can track in real time what I've spent & Is great for using abroad. They're also rolling out a Current Account as we speak for those that get Monzo & Will be Upgraded for free.

No Fee's at all here so don't be spoofed people.

HankHandsome11 h, 9 m ago

.. which is why i acknowledged that with the word "fee" in quotes.i know ….. which is why i acknowledged that with the word "fee" in quotes.i know it's not a "fee" but many people who are interested in a second account might not necessarily have £100 to put in to it initially - I know I didn't and that's why i opened an account at metro.


The idea behind this isn't just a contactless debit card, it's the Exchange rate and fee Free transactions for travel spending.

I must add, loading to it is nigh on instant as well So not as if you need to leave a load of money on it.
I was loading to card and taking cash from cashpoint abroad within minutes.

Good idea if you plan traveelign tho just stick a little cash on it every now and again for a nice boost to ya holiday spendings

Is this the same as Revolut? Anyone know which is better?

So it really doesn't charge you anything when using it abroad? I got a post office travel card last time I went travelling but it charged me every time I used it so I just ended up using my bank card as the fees were the same.

bombproofduck31 m ago

Is this the same as Revolut? Anyone know which is better?So it really …Is this the same as Revolut? Anyone know which is better?So it really doesn't charge you anything when using it abroad? I got a post office travel card last time I went travelling but it charged me every time I used it so I just ended up using my bank card as the fees were the same.


Yes, it is same as Revolut. I can't commnet which is better as I have used only Monzo.

Also, It does not charge any fee while using it abroad in any currency (swipe, cash withdrawal, online shopping). Exchange rate you get as mentioned on the MasterCard website.

I have been using Monzo for couple of months and I love it...

HankHandsome11 h, 54 m ago

I'm not missing anything.If you're on a limited income, you might not have …I'm not missing anything.If you're on a limited income, you might not have £100 just laying around to deposit into an account for a day or two, or for however long it takes for the card to be delivered to your house.metro bank is just that - a bank. the account i opened was a normal basic bank account with a contactless debit card.

​This just proves again that you have missed the point.
Bragging about having a contactless card doesn't mean you get the point.

danfr2 m ago

​This just proves again that you have missed the point. Bragging about h …​This just proves again that you have missed the point. Bragging about having a contactless card doesn't mean you get the point.


ah whatever, i'm not "bragging" about anything but if it floats your boat then believe whatever you want to believe ..

Thanks OP.

But don't forget that there have been several existing options for fee free transactions abroad including the Halifax Clarity Card (halifax.co.uk/cre…rd/) and the Aqua Reward card (aquacard.co.uk/cus…ad/). These are both credit cards. The Halifax Clarity card is better for withdrawing cash as there is no cash withdrawal fee. You do pay interest as soon as the cash is withdrawn but simply pay it back immediately (or preload the card just before) using internet banking. The Aqua Reward card is better for retail transactions as you get 0.5% cash back (so a better deal than using Monzo or other similar pre-paid cards) but do not use it for ATM withdrawals as there is a fee. The Aqua Reward card has a low credit limit but, again, you can manage this by regularly paying it off (or preloading just before the transaction) using internet banking.

The exchange rate is set by Mastercard: mastercard.com/glo…on/

Edit: I should add that credit cards are much safer for spending abroad (and in the UK) than pre-paid cards as you benefit from section 75 and fraud protection. I would only use a prepaid card if you cannot get one of the credit card options due to a poor credit history.
Edited by: "binary0110" 12th Aug

Monzo is great if you want to keep your spending in check. I put the whole family on it and everyone is far more controlled

jackvdbuk10 h, 39 m ago

This is miles better than metro. Monzo is international free transactions …This is miles better than metro. Monzo is international free transactions and ATMs and the send money feature is awesome. Metro is a hit on your credit report and only Europe! No where near the same level imo.


Exactly. I had a Metro card and I was charged for a cash withdrawal from an ATM in one of the East European countries (not part of the EU)!
Use Monzo (or Revolut) and you'll save a lot of £££ when you travel abroad.
Voted HOT!!

This proved an awesome card for use in botswana last few weeks. Paid for pretty much everything and as money reduced I just recharged via wifi. Super cool for holidays.

One thing to note, Monzo have said that they reserve the right to charge for international usage beyond the normal, the company is incurring massive costs from a few people taking advantage. Hopefully they won't introduce these to regular users who use it for day to day banking, below is an extract from the annual report.
"Around 40% of the per-customer loss is due to international ATM usage outside the UK or EU, with a small minority of our user-base driving the majority of this cost. As a result, we will explore ways to reduce this cost in collaboration with our community – it will not be a profit-making exercise. UK and EU ATM usage costs us much less, and we aim to keep this free. We still believe foreign exchange at point-of-sale (in shops, restaurants and online) can be provided to customers for free."

I love the idea of it and have signed up, but just to confirm though, this effectively acts as a debit card (be it a prepaid one).
It is great that you can get the spot rate of mastercard and have transaction instantly show up to you, but would it be fair to say that the traditional credit cards like Halifax still has advantages when it comes to disputes. With Halifax it's the banks money, whereas with Monzo it's my money?

good job on your first post!!

HankHandsome20 h, 1 m ago

for me, metro bank is a better option and you don't have to pay a £100 …for me, metro bank is a better option and you don't have to pay a £100 "fee" with them either.and yes, I know you get it back ..even a basic account with metro will give you a contactless debit card.


Hey, not trying to sound rude here, but does Metro let you freeze the card from your phone with ease?
I've currently got a Monzo card and used it for a trip to Barcelona and it was fantastic, but if Monzo were to crash and burn I'd look for an alternative. One of the best things about the Monzo card was that I would leave it 'Frozen' on the app, and only un-freeze it when making a transaction, making losing the card no risk at all. Also, what's the update on transactions like? Is it instant like Monzo? This really helps in some of countries where they try to add an extra 0 on to a transaction due to the currency exchange hoping they'll get away with it, but Monzo will put a notification through as soon as you press 'Pay'..

Banned

Great deal   Thanks OP 👌

HankHandsome21 h, 31 m ago

I'm not missing anything.If you're on a limited income, you might not have …I'm not missing anything.If you're on a limited income, you might not have £100 just laying around to deposit into an account for a day or two, or for however long it takes for the card to be delivered to your house.metro bank is just that - a bank. the account i opened was a normal basic bank account with a contactless debit card.


But the metro basic bank account doesn't let you use your contactless debit card abroad, and this thread is about a card to use abroad, which makes your post irrelevant to the subject in question.
The virgin essential account from virgin money is also a basic bank account, with just an id check, again you get a contactless debit card, but they allow you to use it abroad - within the eu there are zero fees using the mastercard base rate (same as monzo) but there is a charge for atm withdrawals (unlike monzo which is free).
I have both cards, using the virgin card is a backup.
Fortunately i had no problems with the monzo card, and loved the way the app updates after each transaction and sent a notification to my gear fit 2.
I would recommend monzo to anyone, it is really good.

Question for does how already using Monzo card: When making payments and withdrawing money abroad, from time to time the terminal had asked me which currency to use : pound or the country currency. Which is better (cheaper)?

izzysz7 m ago

Question for does how already using Monzo card: When making payments and …Question for does how already using Monzo card: When making payments and withdrawing money abroad, from time to time the terminal had asked me which currency to use : pound or the country currency. Which is better (cheaper)?


Always country currency, if you choose gbp the terminal provider will do the conversion, not monzo.

Cheers. Heat. I just signed signed up because I like the idea of instant balance updates. The sign up process informs you that there is no fscs protection, and you should always carry a backup incase there card doesn't work (as its in beta), so there are a couple of negatives

Hot! This is not supposed to be a current account, some people just don't get idea...

Is this a physical card, or just an app? or both?

If it's a physical card, how long does it take to receive the card once I'm signed up?
Is it [the physical card] associated with MasterCard or Visa or something else?

Is it more like a credit card (I use it and then pay the balance I owe afterwards) or a debit card (I already have the funds in the account and spend them directly when using the card)?

Thanks; I'd like to know more as people seem quite excited about it.

How is it compared to Revolut?

I use Revolut, not really sure whether to try Monzo or not? Pretty happy with Revolut so far but I'm yet to try actually physically using it abroad. I will be at some point this year.

dorito31 m ago

Is this a physical card, or just an app? or both?If it's a physical card, …Is this a physical card, or just an app? or both?If it's a physical card, how long does it take to receive the card once I'm signed up?Is it [the physical card] associated with MasterCard or Visa or something else?Is it more like a credit card (I use it and then pay the balance I owe afterwards) or a debit card (I already have the funds in the account and spend them directly when using the card)?Thanks; I'd like to know more as people seem quite excited about it.

It has an app and prepaid card as of now. (They are switching from prepaid card to current account.)

Once you sign up using above link, it will skip waiting queue and will be asked to register and load initial top up amount (£100). Once you do it, you will get card in two/three days.

It's a prepaid card (like debit card). first pay and then use.

Get it for yourself, you won't regret it...

Cheers,

Another vote for Monzo...had one for a while, no problems at all.
Use it as back up for holidays, add a couple of hundred quid so don't have to worry about taking extra foreign currency for "just in case". Then spend whats left over back in blighty as normal.

Also you can use it for online purchases...if anyone scams your card the most they can get is the balance on the card but if you freeze it after use they can't get anything.
Edited by: "SenorFunkyPants" 13th Aug

I think this just edges revolut now since their £200/month limit on atm withdrawals (2% fee above). Gonna give this a bash
Edited by: "OneGloveOnTheFence" 13th Aug

psdiscounts.com/nhs…php
steve_on_twit9 h, 40 m ago

I love the idea of it and have signed up, but just to confirm though, this …I love the idea of it and have signed up, but just to confirm though, this effectively acts as a debit card (be it a prepaid one). It is great that you can get the spot rate of mastercard and have transaction instantly show up to you, but would it be fair to say that the traditional credit cards like Halifax still has advantages when it comes to disputes. With Halifax it's the banks money, whereas with Monzo it's my money?




You would be able to attempt a chargeback for any disputes but you would not benefit from section 75 protection so if it were me, I would always use a credit card like the Halifax Clarity credit card for large transactions or ones where there could be disputes (e.g. hotels, flights, car hire) and then you could use Monzo/cash for other transactions. But personally, I don't get what's so great about prepaid cards - why not just use a credit card for everything? Halifax has pretty good internet banking (as does Aqua). If you have a sufficiently good credit record to get a Halifax Clarity card then I would use that over any prepaid card offering. If the transaction is over £100 you would get section 75 protection and you are also protected if you lose your card or it is stolen (just like Monzo). And if your credit record isn't that good then get the Aqua Reward card (but don't use it at an ATM) and you will get 0.5% cash back. It doesn't sound like a lot but over time it adds up.

Edit: the only exception to this are the prepaid cards which offer cash back. If you're eligible to get one through your employer (e.g. psdiscounts.com/nhs…php) then it's worth using them because they offer 5% cash back for many high street retailers which easily offsets the cost of signing up.
Edited by: "binary0110" 13th Aug

binary011013 m ago

http://www.psdiscounts.com/nhsstaff/black-discount-card.php You would be …http://www.psdiscounts.com/nhsstaff/black-discount-card.php You would be able to attempt a chargeback for any disputes but you would not benefit from section 75 protection so if it were me, I would always use a credit card like the Halifax Clarity credit card for large transactions or ones where there could be disputes (e.g. hotels, flights, car hire) and then you could use Monzo/cash for other transactions. But personally, I don't get what's so great about prepaid cards - why not just use a credit card for everything? Halifax has pretty good internet banking (as does Aqua). If you have a sufficiently good credit record to get a Halifax Clarity card then I would use that over any prepaid card offering. If the transaction is over £100 you would get section 75 protection and you are also protected if you lose your card or it is stolen (just like Monzo). And if your credit record isn't that good then get the Aqua Reward card (but don't use it at an ATM) and you will get 0.5% cash back. It doesn't sound like a lot but over time it adds up.Edit: the only exception to this are the prepaid cards which offer cash back. If you're eligible to get one through your employer (e.g. http://www.psdiscounts.com/nhsstaff/black-discount-card.php) then it's worth using them because they offer 5% cash back for many high street retailers which easily offsets the cost of signing up.


I agree that the protection provided by credit cards is pretty good. I've applied for the card and will try it out for day to day purchases. I'm still working out the best way to incorporate this card into my life

Within UK - AMEX (large credit purchases) + Monzo (small credit purhcases + withdrawels)
Outside UK - Halifax (credit purchases) + Monzo (cash withdrawels)

I've had one for a while and got one for my daughter when she went off InterRailing recently. Just turned 18 and while being cheap for exchange rates it also provides instant tracking and budgeting. Sneaky way to get her into money management methinks...

How do they make money?
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