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Monese review

Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Monese is a debit card account that suits people who want everyday spending with no account charge and a Mastercard to use abroad. Its weak spot is the cost of converting currency, and the short list of currencies held, so travellers spending widely outside the UK will pay more than they would elsewhere.

Key facts

Best for
A no-fee Mastercard debit account for people who mostly spend at home and travel light.
Monthly fee
£0 (Source, checked September 26, 2026)
Currency conversion fee
2% (Source, checked September 26, 2026)
Free ATM withdrawals
£200 (Source, checked September 26, 2026)
Card type
Debit (Source, checked September 26, 2026)
Card network
Mastercard (Source, checked September 26, 2026)
Currencies
3 (Source, checked September 26, 2026)
Legal entity
Monese Ltd (Source, checked September 26, 2026)
Headquarters
United Kingdom (Source, checked September 26, 2026)
Founded
2013 (Source, checked September 26, 2026)
Features
Multi-currency, Travel
Official website
monese.com

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • Monthly fee of £0 on the account
  • Free ATM withdrawals of £200, ahead of most of the field at 15 of 115
  • Multi-currency feature with 3 currencies held
  • Marketed with a travel focus and a mastercard network card

Cons

  • Currency conversion fee of 2%, placing it at 160 of 259
  • Only 3 currencies listed, so holding many currencies at once is limited
Monese

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Who it suits

  • People who want a Mastercard for daily spending with no monthly charge
  • Travellers on a light trip who hold cash and spend in a single market
  • Anyone who takes out a regular amount of local currency and would rather not pay withdrawal fees

Who should look elsewhere

  • Anyone moving money across many currencies, where Wise charges 0.1%
  • People who want a credit card rather than a debit card, an option Chime Card (Secured Visa Credit Card) covers with a monthly fee of $0

Fees and currency costs

The account carries a monthly fee of £0, so there is no everyday cost for holding it. The charge to watch is currency conversion, which runs at 2% on spending or withdrawals in a currency the account does not hold. The median conversion fee across the cards compared here is 1%, and Monese sits above it. The account holds 3 currencies.

Who runs it

Monese is operated by Monese Ltd, a company registered in the United Kingdom, and that registered company is the one named behind the brand. It was founded in 2013, giving it a long-standing presence in UK money accounts, and the business is built around multi-currency and travel features for a largely domestic customer base.

How Monese compares

Frequently asked questions

Is there a monthly fee to hold a Monese account?+

No. The monthly fee on the account is £0, so there is nothing to pay for keeping it open. That is the measure on which Monese ranks 1 of 419 among the cards compared here.

What does it cost to convert currency with Monese?+

Currency conversion runs at 2%. That is above the median of 1% across the cards compared here, and it leaves Monese at 160 of 259 on this measure. Spending in a currency the account already holds avoids the charge.

How many currencies can I hold and spend?+

The account holds 3 currencies, and multi-currency is one of its listed features. Holding several is therefore possible, but the range is small, so a traveller visiting a long list of countries may not find a balance for each.

How much can I take out of cash machines without a charge?+

Free ATM withdrawals total £200 before any charge applies. That sits well above the median of €0 across the cards listed here, and it places Monese at 15 of 115 on cash machine use.

What kind of card does Monese issue?+

It is a debit card, so spending is drawn from the money in the account rather than from a credit line. The card runs on the mastercard network, which is accepted widely in the UK and abroad.

Who is Monese aimed at?+

The account is built around a travel focus and a multi-currency feature, which suits people who spend in a few currencies rather than one. It also suits anyone who wants a Mastercard for daily spending without paying a monthly charge.

Which company runs Monese, and where is it based?+

The provider is Monese Ltd, registered in the United Kingdom, and the card it issues runs on the mastercard network. The business was founded in 2013 and has built its account around multi-currency use and travel.

Is Monese a credit card?+

No. The card offered is a debit card rather than a credit card, so there is no borrowing or repayment to manage. Anyone wanting to build a credit history would be better served by a secured credit card.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Protection.

Monese

Monese

A no-fee Mastercard debit account for people who mostly spend at home and travel light.

8.9/10See alternatives