Your eligibility also depends on your credit history, as Monzo conducts a soft or hard credit check during the verification process to assess your financial reliability. The bank typically requires applicants to be residents in the United Kingdom and over the age of 18.
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During this waiting period, you can still use the Monzo app for budgeting and managing your finances, with the virtual card number becoming active immediately. By using the card for daily transactions, you build a transparent history of your spending, which can be useful for future financial planning.
These tools help you visualise your financial goals and keep your budget on track. You begin by downloading the official Monzo app from the App Store or Google Play.
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Assessing Your Eligibility Before you proceed to the application stage, it is important to ensure you meet the basic eligibility criteria. Unlike legacy institutions, Monzo focuses on the experience of the individual, making managing your money less of a chore and more of a streamlined process.
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