What exactly is Monzo for Individuals?

Monzo is an already established commercial bank, which initially started as both an app and a prepaid debit card.

This app, whose design is not that catchy as other apps’ (such as Revolut, for example), yet offers its customers to have multiple features, some of them as useful as handy.

What can you do with the Monzo for Individuals’ App?

• Have your salary money deposited earlier than the regular payday
• Separate your money into spending categories, so customers can assign parts of their budgets to different expenses
• Separate money and place it into Savings Accounts
• Predict whether those invoices on Direct Debit will increase or decrease during the next billing cycle.
• You can even access to borrow money (up to GBP 3,000)

What makes Monzo so special, actually, is that there are no fees for using the app nor for withdrawing money in the UK or within the European Economic Area.