Open a Monese joint account online

A joint account is just like a personal money account except you share it with someone else. This means both account holders can add to, see and spend the money that’s held in it. Opening a joint account can be an easy and transparent way to manage your shared finances and responsibilities.

Both account holders will usually get their own card to use separately, like our rose gold Mastercard debit card. You can add all your money to a joint account or put in just enough for bills, food or shared goals while keeping some money separate in a personal account.

Joint accounts usually allow you to do most of the same things that personal accounts do. The main difference is that you can do them together while seeing both account holders’ activities in one place. With our mobile joint account, you can:

• make and receive payments including Direct Debits
• send and receive local and international transfers
• get account details to share with others, including employers
• view your balance and see transactions in your Monese app
• put money aside in up to 10 pots
• use a physical contactless card online, in-store or at ATMs

We’re not a bank, so we don’t technically offer joint bank accounts. We’re an electronic money institution (EMI) and offer joint mobile money accounts that you can use in many of the same ways. Key differences between our accounts and traditional bank accounts include:

• We don’t have physical branches, but we do have a multilingual Support team and offer lots of easy ways to add and withdraw money
• You won’t have an overdraft, so you can’t spend more money than you add
• Your money is protected by the EU Electronic Money Directive and UK Electronic Money Regulations 2011 and not the Financial Services Compensation Scheme (FSCS)

We also don’t ask for documents to prove your address, credit history or income to open an account. It’s a key reason why many foreign nationals and others who struggle to access traditional banking services choose our app-based joint bank account alternative instead.

Joint accounts make sense for couples who live together and share regular expenses like mortgage payments, utility bills and food shopping. Or you might want to share responsibility for bills with housemates or pool money together with friends or family members.

In short, it’s up to you! You can open a Monese mobile joint account with anyone if you both already have either a GBP or EUR personal account with us. What’s important is that they’re someone you know and trust.

You can open one joint account based on your country of residence. Customers in the UK can’t open a joint account with EEA-based customers and vice versa. Find out more about who can open a Monese joint account.

Joint accounts can make life easier in lots of ways including:

• You can share responsibility for necessary expenses like mortgage or rent, bills and food
• You can put money away for shared goals like new furniture or a week in the sun on holiday
• You can share all your money including your salary or just add as much as you need
• You can build up more money together than you might have on your own
• You can track joint spending and reduce arguments about who owes what
• You might make better decisions with any spare money

Opening a joint account is a big commitment, so it’s wise to consider the risks too before signing up.

• You’ll both have equal access to the money in the account, even if one person adds more than the other
• You’ll both be responsible for any missed payments
• You could get into disagreements if you have different attitudes towards spending money
• One person could withdraw all your shared money

It’s fast and easy to open a joint account online with Monese. You don’t even have to be in the same place as the other person! All you both need is a personal Monese account in GBP or EUR, which you can also open quickly with no credit checks.

After that, opening a joint account takes 4 simple steps:

• Open your Monese app, tap the ‘Account’ button on the top left-hand side of the home screen’
• Select ‘Add account’ and choose the ‘Joint account’ option
• Pick a Monese contact or invite a new person who you want to open a mobile joint account with
• Answer a few short questions and tap ‘Submit’

We’ll then keep you updated about your application right through the app.