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Monzo is an app that simplifies banking. You can receive your salary, set direct debits, standing 
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Monzo works in the same way as other UK Checking accounts. Every account is issueda bright 
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● Groceries 
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● General 
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● Holidays 
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Is Monzo secure? 
Monzo announced in June 2019 that it would partner with Sutton Bank to offer its services, but 
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covers your accounts for deposits up to $250,000 and will be covered by FDIC. 
The list of technical protections that should be anticipated includes PINs, encrypted payment, 
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Monzo: The pros and cons 
● The fully digital lender with a solid standing in Great Britain 
● Divide your money into “pots” to make managing and saving money easier. 
● Transfer money easily between friends without the need for a third-party application. 
● There are no fees and foreign exchange rates that are competitive. 
● There are no branches in your area or services available in person. 
● There is a 3% charge for withdrawals exceeding $200 per month from an ATM in the 
USA. 
Monzo’s prices 
Monzo offers both free and paid accounts, just like most banks. Monzo’s fee is determined by 
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features. 
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Monzo current & Monzo Lite 
Monzo offers both private and business accounts free of charge. However, you should be aware 
of these fees: 
● It is possible to travel overseas and draw up to #200 per month free of charge. After that, 
you’ll have to pay a 3.5% fee. 
● No PS1 fee will apply to deposits made at any of the 28,000 PayPoint locations in the 
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Monzo Plus 
This personal account charges #5 Percent per Month and offers the following features: 
● Holographic cards are cards that include a hologram. 
● Virtual cards 
● Roundups can be more complex. 
● Credit score monitor 
● Up to #400 is allowed for withdrawals from abroad. 
● You can monitor different Monzo accounts from your smartphone. 
● You can easily divide your payments into different categories to make it easier to see 
what you are paying. 
The Premium Plan 
This plan has a #15 monthly fee. You can make five deposits free of charge and your 
international withdrawal limit was raised to 600 per month. The Premium package includes 
global travel insurance, a phone insurance policy, 1.5 percent interest, access to airport lounges 
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The Pro Account 
The Business account is only five dollars per month and offers these features: 
● Integrations with third-party accounting software 
● Multi-user access for Ltd companies is a benefit 
● Invoices can be made, tracked, and sent. 
● To save money on your earnings, you can also set up tax baskets. 
● Enjoy half an hour of Xero access for free! 
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spending and budgeting tools. You will also receive a digital receipt and a business debit card to 
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Card shipping 
If you are a UK resident, your Monzo card will be routed free of charge. For $30, you will pay for 
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Verification documents 
– Passport-Driving license (your provisional is fine). 
– National ID Card 
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Certificate for shotgun and firearm certificates 
The Electoral Office issued a Northern Ireland Electoral Identity Card. Processing of your 
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Monzo Verified Accounts can be purchased with all documents. Prudential Regulation Authority 
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Your money is fully protected by the Financial Services Compensation Scheme (FSCS). The 
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Monzo Virtual Cards 
Monzo Virtual Cards Digital Cards are available only to Premium and Plus account holders. 
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