What does the end of the Brexit transition period mean for me?

Following Brexit earlier this year, the transition period ends on 31 December. Here’s how we’re prepared.

Mihnea um November 24, 2020

What does the end of the Brexit transition period mean for me?

The United Kingdom left the European Union at the end of January. Since then there’s been a period of transition, where both sides have been trying to work out their future relationship. This transition period is coming to an end on the 31st of December – but no matter the outcome, we want you to know we’re fully prepared.

Whatever happens, you’ll still be able to use our smart and connected service to continue to do things like:

  • Sending and receiving money, locally and internationally
  • Using your card to pay in-store or online, or withdraw from ATMs
  • Topping up your account with cash (in any country this is already available in)
  • Using your app in any of the 14 languages we support, and chatting to our multilingual support team

Is this going to affect me?

Last year, we worked with our licensing partner to create a new regulated entity in Belgium. We set this up so that we can provide you with the same level of service after Brexit. Since then, most of our customers from across Europe received new and improved European account numbers, and those of you who live in Romania are set up with local Romanian account numbers. And we’ve started rolling out French account numbers!

From next year, many of you won’t see any changes to how your account or card works. But some will see some small changes. For example:

  • If you live in the UK and have a RON account, we may have to move it under our EU licensing partner
  • If you don’t live in the UK and you have a GBP currency account that you haven’t been using for a while, we’ll ask you if you want to keep using it moving forward
  • If you live in the European Economic Area and your EUR account number starts with GB, we may update your IBAN

If you’re a Monese customer, we’ll send you any important details via email, and we’ll be in touch with anything else you need to know as this transition period comes to an end.

What happens next?

We’ll keep updating you regularly on this, but in the meantime, you can find more details in our terms, or in our help centre.

If you have any other questions about Brexit and how it will affect your Monese account, feel free to reach out to our Support team through the app or by emailing us on support@monese.com.

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