Big change as of October 2024
Monese at a glance (2026)
No customer shutdownDespite earlier press fears, Monese was not shut down. The brand still operates as a consumer app and continues onboarding new UK customers. Monitor in-app notifications for any future migration to Pockit infrastructure.
About Monese in 2026
Monese was founded in 2015 by Norris Koppel, who arrived in London from Estonia and was frustrated by the difficulty of opening a UK bank account as a newcomer. The product was designed to open an account in minutes from a phone, with no UK credit check or proof of address, making it popular with expats and gig-economy workers.
Both Kinnevik (Sweden) and HSBC wrote down their Monese investments to zero in early 2024. UK fintech Pockit, backed by Puma Growth Partners, acquired Monese in October 2024 for around £15m and injected up to £15m to fund integration. Founder Norris Koppel remained involved post-deal; Pockit’s CEO Virraj Jatania now leads the combined business.
The Pockit acquisition
Pockit is a UK-based financial inclusion fintech that serves customers with limited credit history or who would struggle to open a standard UK current account. Combining Monese and Pockit creates a group with about 3 million customers focused on the same market.
At the time of writing, Pockit has stated that the two brands will continue to run independently while integration is completed. There is no published date for any forced migration from Monese to Pockit infrastructure. UK customers should monitor in-app notifications for any future changes.
Monese accounts in 2026
Monese Instant
The headline Monese consumer account. Open in minutes from your phone, with no UK credit check or proof of address. Contactless debit Mastercard.
- No UK credit check or proof of address.
- Open in minutes from the app.
- Contactless debit Mastercard.
Monese Joint
Free joint Monese account for two account holders. Each gets a Monese debit card, and both can see the shared balance.
- Two debit cards.
- Shared balance and transactions.
- Easy household budgeting.
Pots and Savings
Ring-fence money inside your Monese account for specific savings goals. AER varies; check the live rate in the app.
- Goal-based savings inside the account.
- Easy round-ups and rules.
- AER varies (check in app).
Cash Advance
Eligible Monese customers can request a short-term cash advance directly inside the app. APR depends on the live offer.
- Eligibility checked inside the app.
- Repayment terms vary.
- APR depends on live offer.
Multi-currency travel
Hold balances in multiple currencies and pay abroad with the Monese card without UK high-street FX fees.
- Multi-currency wallets.
- No standard high-street FX fees.
- Live exchange rate when you spend.
Monese is not a UK bankMonese operates as an electronic money institution (EMI), not a UK clearing bank. Customer funds are safeguarded by EMI rules, but they are not protected by the FSCS to £85,000 the way a high-street bank account is. If FSCS protection matters to you, see our 2026 guide to the best UK current accounts — or compare Monese with our independent Monese review.
Monese customer service
In-app chat
Primary support channel
Open in app
Available 24/7
Start hereLost or stolen card
Freeze instantly in the app
Freeze in app
24/7
Support portal
FAQ and how-to articles
support.monese.com
24/7
Contact form
For complex queries
monese.com/contact
Reply within business days
Monese FAQ
No. Monese was acquired by Pockit in October 2024 but the consumer app is still active and still onboarding new UK customers in 2026.
Monese is an electronic money institution (EMI), not a UK clearing bank. Customer funds are safeguarded under EMI rules (kept separately from Monese’s own money) but are not covered by the FSCS to £85,000 the way a high-street bank account is.
Yes. Monese was designed exactly for that use case: you can open an account in minutes using a photo of your ID, with no UK credit check or proof of address needed.
At the time of writing, Pockit has said the two brands will continue running independently while integration is completed. There is no published forced-migration date. Watch in-app notifications for future updates.