Welcome to our Monzo Plus guide, exploring the world of mobile banking with Monzo. Founded in the UK in 2015, Monzo Bank now serves around five million users. It offers app-based banking for the digital age. In this guide, we’ll look at the features and benefits of a Monzo Plus account.
Whether you’re thinking of upgrading or comparing digital banking, this guide will help. It’s a detailed overview to aid your decision.
Monzo Plus, available for £5 a month, elevates your banking with Monzo. You get perks like fee-free withdrawals abroad up to €400. Plus, there are enhanced budgeting tools and a premium holographic debit card.
With Monzo Plus, you unlock unique features for managing your finances. It’s efficient and stylish.
Our Monzo Plus guide covers setting up and using the account. It also compares it to traditional and other digital banking. Discover how Monzo Plus offers a superior banking experience tailored for you.
What is Monzo Plus?
Monzo Plus is a premium banking service from Monzo Bank. It’s designed for those who want more from their bank. For £5 a month, Monzo Plus offers advanced features and tools for managing money.
The Monzo Plus has cool features like interest on savings and cashback offers. Users can earn up to £9.57 in a month. It’s great for those who want to get the most from their bank account.
Monzo offers different account types. Basic accounts have basic services, but Monzo Plus has more. It includes budgeting tools, fee-free cash withdrawals, and spending insights.
Monzo Plus also has a holographic card and virtual cards. These add a modern look and extra security. Users can see all their accounts and credit cards in one place, making it easier to manage finances.
Monzo Plus users get 3.60% AER interest on savings. This means their savings can grow over time. It’s a great way to make your money work for you.
Monzo Plus offers many benefits, like exporting transactions and tracking credit scores. It also has discounts and a high customer satisfaction score. But, it’s important to know Monzo Plus doesn’t follow the authorised push payment scam code.
Here’s a comparison of Monzo account types to help you choose:
| Feature | Monzo | Monzo Plus | Monzo Extra | Monzo Perks | Monzo Max |
|---|---|---|---|---|---|
| Monthly Fee | Free | £5 | £3 | £7 | £17 |
| Interest Rate (AER) | None | 3.60% | 4.10% | 4.60% | 4.60% |
| Fee-Free Cash Withdrawals (EEA) | No | Yes (first £400) | Yes | Yes (higher limit) | Yes (highest limit) |
| Holographic Card | No | Yes | Yes | Yes | Yes |
| Virtual Cards | No | Yes | Yes | Yes | Yes |
| Cashback Offers | No | Yes | Yes | Yes | Yes |
| Annual Railcard | No | No | No | Yes | Yes |
| Travel Insurance | No | No | No | No | Yes |
| Phone Insurance | No | No | No | No | Yes |
Exclusive Benefits and Features
Monzo Plus stands out by giving special benefits to improve your banking life. It offers virtual cards for safer online shopping and personal money summaries for better budgeting. These features help you manage your money better and feel more in control.
Monzo Plus also has cool perks like fee-free ATM withdrawals up to €400 abroad. This is great for those who travel a lot. It shows Monzo’s focus on making banking better for its users.
Monzo Plus has features for both personal and travel needs. You can set up custom spending rules and track your money closely. These tools are perfect for those who love using their phones for banking and want to keep an eye on their finances.
To learn more about Monzo Plus and its special features, check out the ultimate guide to Monzo Plus. Monzo offers unique perks like investment pots starting at £1 and no fees for ATM withdrawals in some cases. Plus, there are variable interest rates on savings pots.
With Monzo’s new plans starting in April 2024, you can pick the best account for you. For more on digital banking, like Monzo, see this guide to online banks.
As Monzo grows and adds more investment options, Monzo Plus could become even more attractive. With its advanced features, no fees for cash withdrawals, and smart money tools, Monzo Plus is changing the way we bank online.
Guide to Monzo Plus
Starting with Monzo Plus is easy. First, pick your plan: Monzo Extra at £3, Monzo Perks at £7, or Monzo Max at £17. Then, follow the simple setup steps. After that, you can use cool features like virtual cards and track your spending better.
Opening an account is easy, thanks to the Monzo banking guide. It helps even new users get started without trouble.
Using Monzo Plus daily means tapping into its many tools. You can set budgets and savings goals. Knowing about fees, like a 1% currency conversion fee, is important. Also, Monzo Perks offers 4.60% AER interest, which is great for saving.
Each Monzo Plus tier has its own perks. Monzo Max gives you travel insurance and phone insurance. Plus, you get free treats at Greggs. Monzo business accounts also have cool features, like accounting tools and multi-user access. These features help you use Monzo Plus to its fullest, making banking better for you.
