| Minimum Transfer | $1 |
| Transfer Speed (days) | 1 day |
| Processing Fee Range ($) | N/A |
| Processing Commission | N/A |
Monzo Money Transfer Review
Monzo is a peer-to-peer, or P2P, payment platform based in Las Vegas, NV. It was founded in 2015 and offers money transfers to 37 countries.
Monzo FAQ
What money transfer methods does Monzo support?
Monzo allows you to send money to the following destinations:
- Bank accounts.
- Personal transfers without the need of a bank account
How long does it take for the money to arrive with Monzo?
Typically, money will take 1 day to arrive. However, this may vary depending on the amount, currency, and destination.
How much money can you send with Monzo?
Monzo does not have a minimum transfer amount.
The maximum amount you can send per transfer is $49,999.
What fees and commissions does Monzo charge?
- Monzo offers free peer to peer (P2P) money transactions. However, you may have to pay a fee if you use certain payment options, such as a credit card, or if you exceed their transaction amount limits.
- Monzo does not charge a flat processing fee.
- There isn't a processing commission fee.
- Monzo does not charge a currency exchange fee. Instead, Monzo makes a profit from the spread between the buy and sell price of the currency you purchase. Compare the exchange rates offered by money transfer services as well as fees when calculating the total cost of the transaction.
| Description | |
|---|---|
| International Transfer Fee | Starting at 0.06% |
| Foreign Currency Transaction Fee | 0% |
How does Monzo compare to other money transfer services?
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