Introducing your new European account number
Here’s the latest on how you’re getting an even more localised Monese service, regardless of Brexit
By Mathilde on October 17, 2019
Following last month’s update, we want to tell you how we’re bringing you a more localised service all across Europe.
We’re excited to say that we’ve started rolling out European account numbers (IBANs) for Monese EUR accounts, to customers based outside the UK!
Where’s my new EUR account number?
If you’re based outside of the UK or France, you can find your new account number (or IBAN) in your Monese EUR account, under ‘Account details’ – it begins with the letters ‘BE’. You can also find it in your ‘Account’ menu, in the top left corner. If you aren’t seeing this, make sure you’re using the latest version of the app.
Your old IBAN (which begins with the letters ‘GB’) and BIC will continue to be visible under ‘Account details’ – and will continue to work as normal. This means you’ll still be able to receive money to it. However, we recommend that you start using your new ‘BE’ IBAN for any incoming payments (like bank transfers) – you can easily share it with anyone, including your employer, by tapping on ‘Share’ from your ‘Accounts details’ page.
Rest assured that there are no changes to how your Monese account and card operates – you can carry on using your Monese card and account as normal, and you don’t need to do anything.
If you’re based in the UK or France
If you’re based in the UK, your Monese account will continue to be regulated by the Financial Conduct Authority in the UK. This means that your EUR account will continue to start with the letters ‘GB’, and you can use your GBP account to set up any UK Direct Debits.
If you’re based in France, however, your new IBAN isn’t ready just yet – but we’ll have an exciting update for you soon!
Say hello to Direct Debits
One of the great things about your new IBAN, if you’re based outside the UK, is that you’ll be able to make Direct Debit payments from your personal EUR account!
Direct Debits are an easy and convenient way to manage your payments and bills from your Monese account. They give you the peace of mind that your bills are being paid automatically, so you never miss a payment. These work through the SEPA scheme, and you can find out more about them here.
To set up a Direct Debit, tap on ‘More’ from the home screen, where there will be an option to set up a Direct Debit payment.
We’re really excited to see how you’ll be using your new EUR account numbers and Direct Debits. If you want to read more about these changes, feel free to explore our Help Centre or browse through the latest Terms. And if you have any questions, our Customer Support team is always here to help.
Content & Community Manager