Nabil Islam

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Nabil Islam
Aug 03, 2022
In Business Forum
Both MONE and Revolut are digital banking services that provide various benefits for business and personal banking. They also make travel a breeze with instant currency exchange and payment protection. Not to mention, transfer and manage payments conveniently through their mobile app (available for both Android and iOS). But with all these things in common, how are these services different? If you're looking for a business or personal account, what's the best option? If you want to decipher Monese and Revolut products and features, look no further. We've covered everything you need to know to help you decide which (if any) mobile banking is the best option for you. Let's dive in! Monese vs Revolut: Products and Fees Both Monese and Revolut offer free email list personal accounts that include a range of convenient digital banking services. Both free accounts (Monese – Starter and Revolut – Standard) offer free transfers to other app users and domestic accounts, as well as virtual debit cards for mobile and online purchases. However, with Revolut, you get a financial tracker to help you set your budget. The same tool notifies you when you are close to reaching your spending limit. Additionally, you can manage subscriptions directly from Revolut's app. They also offer rewards and cash back for selected brands. Likewise, Monese comes with an easy-to-use budgeting tool. You can create savings goals and set spending notifications. Monese also allows you to set up a piggy bank where you can send transactions and add spare change. However, while these free features make both services an attractive option, it's important to be aware of some fees. : cost MONE Revolut open maintenance fee free free card fee €4.95/£4.95 shipping £4.99 Standard Shipping £19.99/£16.86 Courier fee (within three working days to receive your card) *Fees are in the currency equivalent of the courier card. Card replacement fee €4.95 / £4.95 + shipping £5 + shipping ATM withdrawal fees Free up to €200/£200 per month. Then there is a 2% fee for each withdrawal Up to 5 free ATM withdrawals or £200 per month. A 2% fee is then charged, with a minimum charge of £1 per withdrawal Domestic transfer fee Free (based on currency exchange) up to 50 transactions per month. Then there is a fee of £0.2/€0.2 per transfer. Free in payment currency. International transfer fee 2.5% fee plus 1% on weekends. (No charge for Monese account holders) Free up to £1000 per month for Revolut account holders and non-account holders of the same currency. Then a 0.5% transaction fee is charged. Other wise, fees vary by country. (see Transfer Calculator ) Currency exchange fee Free up to £2,000/€2,000 per month. A 2% processing fee is then charged, with a minimum charge of €2/£2. Up to £1000 free per month. Then a 0.5% transaction fee is charged. recharge fee Free up to £200/€200 per month followed by a 2% transaction fee Cards issued by the EEA (European Economic Area) are free. go to top Illustration of a cat climbing a ladder Monese vs Revolut: Account Options and Pricing Opening a digital bank account with Monese or Revolut is easy. MONE , you can open an account in minutes. You don't need proof of address, income documents, or a credit check. Just download the app and enter your name, number and passport ID. Like wise, the registration process for Revolut is relatively simple. After downloading the app, it will ask for your name, address and contact information. You must also provide your passport for identification. Once done, you can start making deposits. However, if you require a more detailed banking plan, you may be asked for more details. That said, both Monese and Revolut have multiple accounts to choose from. go to top Illustration of a cat climbing a ladder MONE Monese vs Revolut Use Monese's paid personal account from just £1.95 per month. Premium plans unlock health insurance, free card delivery, and lower fees (relative to the account you choose). Monese account plans and their monthly fees (GBP): Starter Level – £0 per month Essential – £1.95 per month Classic Card – £5.95 per month Premium - £14.95 per month Monese also offers a joint account option. Here, you can still keep your divi dual account and connect it with another Monese user. Also, you can create joint consumption jars for free. A business account will cost you £9.95 per month. For that, you'll get a free Classic Personal plan and a contactless debit card. You'll also unlock shareable commercial invoices, account top-up options from over 40,000 payment points, and international money transfers. Your company needs to be a reg
Monese vs Revolut: How are they different?
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