Sounds very similar to Revolut card which I'm using. But they don't charge for ATM withdrawals and currency exchange. So at first your landing page misguided me, cause it says, that it's free.
@ekaterinaklink To celebrate absolutely everything is free with the exception of currency exchange transactions. After our fully free period ends (and we will give lots of warning), our customers can use the free Monese credits they get each month to cover any paid transactions. So I hope you see that there IS a free usage tier (within limits). We've designed our pricing to be as transparent as possible, and you never pay to use your card in stores. If you need more there is a very straight forward charge per transaction, so customers are always in control.
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@inthescript, can you please share some invites with the PH community?
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@seceleanu Will get a link up for Product Hunters soon. Hope a few people have joined the invite list also, which you can do on the site. We are sending out invites daily for people on the list - it's a pretty big list so is taking a while, but we're going as fast as we can :)
Seems like some people never moved to another country like the UK or have been in dept. Back then it was difficult for me to open a bank account and still it is the same. You need a bank account to get a job, to get a job you need to have a bank account. Lovely system I would say. I live in Germany and pay a month 6 euro for a simple bank account, because my credibility is not good. Other people have better accounts and pay nothing every month. What kind of logic is this?
I am really happy to see, that someone is trying to shake the industry. I would be happy to pay a fee and have a bank account, then not have a bank account. I do not think that Apple would pay my salary in cash, if I would work for them.
@tristancelebi Thanks for the kinds words. Really great to know we're helping.
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1. Thanks for following, I'm into fintech as well :)
2. Does it work in Brazil already? If not, when?
3. Really liked the pricing. Awesome.
4. Can I use that to pay online services, like Google Play? Had that struggle with similar cards.
5. Android first? That's a first! :)
@aleattorium
1. Great to meet you
2. Not yet but we are planning global rollout of the service, with time and funding.
3. Thanks so much, tried to keep it super simple and make sure there is a good and usable free tier
4. Yep the Monese card is a Visa Debit Card which works on the majority of sites / services in the world.
5. Gotta give Android some love too :) iOS app is in the works!
@jacopodaeli Yep it's free, just within limits. Free account (no monthly charge), free Monese Visa debit card, free to use cards in stores and it comes with a set of free Monese credits to cover all types of transaction except for currency exchange :)
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I've been following Monese for awhile and was really looking forward to it. After seeing the pricing list, I'm less than enthused, its incredibly expensive and really cant be used as a replacement card 50p to withdraw cash from the UK? Also for a card that lets you pay in any currency why is there an FX charge on every transaction?
My last point - The inclusive free list is a little misleading 'Replacement Card If Expired' I'd expect so!
I'm really happy to see new players in the banking game but to be competitive a lot of these charges need to be removed
@joshcrowder Pricing list was updated on the site this afternoon. We enthusiastically launched the site this morning and there we a few adjustments still to be made ;) Pricing designed to be super lightweight and transparent so customer is always in control. And the account CAN be used entirely for free - within limits. Free to use debit card in store and there are free credits to cover everything else except FX.
@inthescript well...no invite yet....so bad deal... :S actually didnt even get the confirmation email. Deleted the APP from phone until then :(
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Interesting product, can't wait to see what other players roll out and how financial institutions will respond.
According to the FAQ, my fund on Monese is "indirectly covered by the Financial Services Compensation Scheme via our UK banking partners."
Therefore, can I assume my first £85k (£75k from 1st January) would be protected by FSCS?
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