Monese sign up offer earn £15

Money, investing, mutuals etc
im179807
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Monese sign up offer earn £15

Post by im179807 » Sun May 12, 2019 8:54 pm

Came across the online bank Monese that has a sign-up bonus of £15 when making your first purchase with their card after using a referral code during signup. The person referring also gets £15 (in this case me) but without a referral code you don't get the sign-up bonus so I still think it's better to find and use one.

They offer both eurozone and UK online banks account with different payment plans starting from £0/month which give different rates on foreign transactions. I've copy pasted the auto generated share message for my referral below:

Get a £15 welcome gift when you open a Monese account and do the first transaction with the Monese Card. Just use my code: MICH622. Download the Monese app here: https://monese.app.link/X839pYH7yW?invite=MICH622
Last edited by im179807 on Fri May 17, 2019 5:51 pm, edited 3 times in total.
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pabenny
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Re: Monese sign up offer earn £10

Post by pabenny » Mon May 13, 2019 1:50 pm

Monese is not a 'proper' bank - it's an Electronic Money Institution. Like many of these fintech banks, customer deposits are held by proper bank. I couldn't find which one(s) on their website.

It's not clear what this arrangement means for the FSCS. I'd be cautious about holding significant funds with Monese or any other EMI - although with no interest and few other benefits holding a balance, there is little reason to do so.

Worth also noting that if you want a physical card with this account, there is a £4.95 delivery charge

The options for a currency account may be worth a further look if you need that facility - again subject to the caveat about deposit protection. I wouldn't use this to hold funds as part of a hedging strategy, for example.

That said, a free tenner for me and the OP is worth a go.

im179807
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Re: Monese sign up offer earn £10

Post by im179807 » Mon May 13, 2019 2:32 pm

When I signed up for this a couple of weeks back they had waived the £4.95 fee for the card but that may have been a time limited thing.

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Re: Monese sign up offer earn £10

Post by im179807 » Thu May 16, 2019 5:36 pm

This offer is now increased to £15. Don't know how long but saw it first today.

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Re: Monese sign up offer earn £10

Post by pabenny » Fri May 17, 2019 5:49 pm

Account opened - thank you.

If anyone else wants to give it a go, my referral link is https://monese.app.link/Ifn0ku6GLW?invite=PAULA438.

You get £15 and I get £15 once you have used your account/card to spend.

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Re: Monese sign up offer earn £15

Post by pabenny » Fri May 24, 2019 2:24 pm

Just received my £15 top-up from Monese.

There are a few steps
- download the app
- open an account. You'll need ID such as a driving license and the app will take a very short video of your face. Ensure you request the basic account, which is free
- request a card. Free at present. Mine took 2-3 days to arrive.
- transfer in some money. I transferred £10
- buy something using the card
- Free £15 was added the next day.

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