If you’re new to my blog and can’t tell from my blog name, I love to travel and seek out adventures wherever I can. Gone are the days of carrying bundles of cash when you travel abroad, as we now live in quite a cashless world. Before my first trip of the year, I was researching travel cards beforehand, I’d used a Post Office card before but wanted something different, then I came across Monzo. Read on for my Monzo review!
What Is Monzo?
Founded in 2015, Monzo is an app-based bank which has no physical store. It’s grown incredibly over the past four years, with over 2.5 million people having accounts. The one thing that attracted me to getting a Monzo card was that you could use it abroad, with no added fees and you’re able to withdraw up to £200 a month wherever you are in the world.
How Does It Work?
To apply for a Monzo card you do it through the app, you’re asked for your details and have to record a message to verify you’re an actual person. The whole process of applying took no longer than five minutes and within a few days, my coral card arrived through the door. You set your pin number on the app, I’d recommend going into the settings and adding a passcode to the app, as it doesn’t automatically do this and if someone gets hold of your phone, they’d be able to access.
The app is really easy to use, you can set budgets, sort all your transactions out into categories and even freeze your card (if like me you sometimes go overboard on clothes shopping!). I transfer money over from my normal bank account to use while I’m away.
Should I Get One?
I only use Monzo as a travel card, I’ve still got my normal bank account which I use daily. But I like to keep things separate, plus my bank doesn’t waive travel fees when using your card abroad. I would consider switching to Monzo fulltime as so far, I’ve found it pretty seamless.
Monzo has transformed the way I travel. If you run out of money while abroad, not to panic, it’s super easy to transfer yourself over money and you’ll even be notified once the money has reached your account.
Personally, the best thing I like about Monzo is that is breaks down your spending, notifies you of every transaction and totals up your spending as the day goes on. Once you arrive in the country you’re travelling to and use your card for the first time you’ll be notified with a ‘Welcome to xxx’. Travelling is a great experience and if like me when you’re on holiday you get into the spirit and treat yourself a few more times than you think, it can be easy to go overbudget. With each transaction it will total up how much you’ve spent on that day, giving you an easy way to stay keep on track with your budget.
Once you arrive home, you’ll also be notified. Detailing how much you’ve spent over how many days:
You’ll also find all the details of your trip within the app; how many transactions you’ve made, how much you’ve spent and an even a little map of where each transaction took place:
I’ve found it incredibly useful! Having some leftover money, I’ve also made a few UK transactions. I purchased something from Pretty Little Thing, and decided to return the item, and as soon as I got the refund, I got notified! It’s great for keeping on top of your spending, so yes, I would recommend getting a Monzo card, for either your travels or for everyday use.
Hopefully, this blog has helped you understand Monzo a bit more! I think a lot of people can be apprehensive when it comes to banks, especially when it comes to an app-based one! But I’ve found it really useful, I’ve also read that the customer service is top-notch too! Have you used a Monzo card or something similar? Let me know in the comments!
I joined the Monzo family last year and so far my experience has been positive. I like the ethos and philosophy of the brand. It’s a refreshing change from the traditional banks. It should get better with the passage of time. Kudos to Monzo.