Monzo bank offers a quick and easy sign-up process, allowing customers to open a bank account within minutes for free. To open an account, customers will need a smartphone, ID and to be over 16 years old. The process of opening an account involves downloading the Monzo app, entering information such as an email and home address, and confirming your identity with a ‘selfie video’ system – you will then be sent your Monzo card in the post. It is also possible to begin using your Monzo card immediately after signing up by adding your card to Apple Pay. As of June 2020, the Monzo metal card isn’t available and not announced yet.
Monzo bank’s current account has no monthly fees, allowing users to control their spending, savings, and bills through the app. There’s also Monzo joint account options and an account for 16-17-year-olds.
Currently, Monzo bank offers its free current account, with a premium account potentially in the works in the future. It has also been very vocal about upcoming Monzo business account options that they hope to offer soon.