You are here: Home - Saving & Banking - News -

Monzo launches £5/month premium current account

0
Written by:
16/07/2020
Monzo has launched a premium £5/month account offering 1% in-credit interest and £400 fee-free withdrawals overseas.

The Monzo Plus account will allow customers to view 13 different bank and credit cards in the app, including Barclays, HSBC, Lloyds and Nationwide.

For £5 a month, customers will be able to earn 1% AER (variable) interest on up to £2,000 and can make £400 fee-free withdrawals abroad every 30 days.

The standard Monzo current account offers users £200 fee-free withdrawals abroad.

They’ll also receive monthly credit score updates with TransUnion and can set up five virtual cards for shopping online, rather than using details from the physical card.

Users will also be able to set up custom spending categories so they’re able to break down spending into personalised groups.

There’s a minimum three-month term for the Monzo plus account after the initial 14-day cooling-off period.

Monzo’s chief product officer, Mike Hudack, said: “With this version of Monzo Plus, we went back to basics, and re-examined how we built things. We thought really hard about why people love Monzo and listened to our customers and our community.

“Over and over again we heard that people love Monzo because it gives them more control and visibility over their money.

“So we’ve doubled down on that and created a premium product that we believe makes Monzo even better at managing your money, refocused on benefits that help customers today and in the future.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Privacy Preference Center

Necessary

Advertising

Analytics

Other

Read previous post:
Government considers further measures to protect tenants from eviction

The government is considering further steps to protect tenants from eviction when the ban on private sector evictions expires on...

Close