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Bank Green

Monzo

Our take on Monzo

Monzo is a digital bank headquartered in London. In August 2024, they announced surpassing 10 million personal customers in the UK. Monzo doesn’t invest or provide loans to the fossil fuel industry, but instead keeps customer deposits with the Bank of England. They offer various savings options with different providers, which should be screened separately for their environmental credentials.

Have you opened an account with Monzo since visiting Bank.Green?


Key Facts

Type: Bank

Mobile Banking: Yes

Environmental Policy: Yes

Founded: 2015

Serving: Consumers & Organizations

Local Branches: No

Products

Checking Accounts: Yes

Savings Accounts: Yes

Credit Cards: Yes

Mortgages or Loans: Yes

Business Lending: Yes

ISAs: No

Fees

Overdraft Fee: Yes

Account Maintenance Fee: No

Free ATM Network: Yes


Impact

• Monzo emphasises financial inclusion with features designed to simplify money management.

• Offers tools for budgeting, saving, and spending to empower users to manage their finances more effectively.

Security

• Provides FDIC insurance up to $250,000, ensuring a high level of deposit security.

• Offers robust security features, including biometric and PIN protections.

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Service

• Focuses on comprehensive digital banking services accessible via a mobile app.

• Offers no-fee banking, including no overdraft or foreign exchange fees.

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Accessibility

• Provides 24/7 customer support and a user-friendly app for easy banking.

• Features real-time notifications and automated savings to enhance user convenience.

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