Monese opens joint accounts

Source: Monese

Monese, the leading banking service that gives people the financial freedom to thrive anywhere, today launches its joint account offering for UK customers.

Monese is also offering EUR joint accounts between EEA registered users across mainland Europe, a first for the continent.

All joint accounts come with free and instant transfers between EUR or GBP Monese personal accounts, as well as free and instant Monese to Monese transfers globally, saving consumers hundreds on cross-border fees.

Opening a joint account can be notoriously difficult, but with Monese, customers will be able to invite their partner, friend, family member or flatmate to instantly open a joint account with them from the Monese app, from anywhere in the UK, with no monthly fees. Joint account users have a shared account number and details, so both customers can get paid easily into the account, or set up their own Direct Debits, to manage payments and bills.

Customers will also be able to use their joint account with Apple Pay and Google Pay, as well as all of Monese’s budgeting and money management features: shared transaction list, Monese’s Spending Overview analytics, and set up monthly budgets so they can reach their savings goals together.

Joint account customers open a Monese personal account first, which can be easily linked to their PayPal account. This means Monese customers can manage money in their PayPal account, alongside all their other finances and payments, within the Monese app. Customers can also link their British Airways Executive Club Avios account to Monese, allowing users to easily track and maximise their Avios balance and check their Avios transactions.

If customers invite a non-Monese customer to join Monese, both the referrer and the referee can earn up to £20 referral bonus each.

Joint account holders will be able to enjoy the following account features:
● Free UK/EUR joint account
● Contactless Mastercard debit cards (£4.95 delivery fee per card)
● Free and instant transfer between any Monese accounts (any currency)
● Free and instant debit card top-ups
● Fee-free global ATM withdrawals (£200/month fee-free shared allowance)
● Fee-free global foreign currency card spend (£2,000/month fee-free shared allowance)
● Apple Pay & Google Pay
● Direct Debits
● Monese app and Customer Support team accessible via telephone in 14 languages
● On-demand statements
● Set monthly budgets to keep spending in check and manage bills
● Lock/unlock card from within the Monese app

Norris Koppel, CEO of Monese, said: “Joint accounts allow people to share, spend and save money openly and easily with a partner, family member or friend. They are a crucial financial tool for many, and should easily fit around our modern ways of living and working. However, with traditional banks, opening a joint account can be a hassle for customers, who often have to endure lengthy processes and unnecessary red tape. At Monese, we wanted to create a joint account that would be quick and easy to open and use, one that comes with all the features and services of a traditional bank account, but that easily fits alongside our customer’s lifestyles and provides excellent value for those who travel or need to move money across borders.”

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