Monzo secures EU licence; opens Irish waitlist

Founded in 2015 and fully regulated in the UK since 2017, Monzo currently caters to more than 14 million customers and over 800,000 businesses.

With the new licence, Monzo is preparing to make headwinds in Europe, starting in Ireland, with its European headquarters based in Dublin.

In the coming months, Irish customers will be able to apply for Monzo’s free personal, joint, business, children’s, and instant-access savings accounts, each providing budgeting tools for personal and business financial management and an Irish Iban.

Elaine Deehan, country manager for Ireland at Monzo, says: “We’re excited to be launching an Irish digital bank serving customers and businesses. People here are tech-savvy who value digital-first products that are built around their real life. Banking with Monzo is designed to make managing money effortless – an account with no maintenance fees, packed with clever savings, budgeting and security features and human customer support on hand 24/7.”