Monese, the mobile-only banking service, has taken the extraordinary step of offering free banking services to all students in Europe and the UK who start new university places in September.
The student account provides free access to all features of a Monese Plus plan for 1 year, which typically costs € 4.95 or £ 4.95 / month, meaning all students will experience substantial savings on fees transfer fees and bank charges.
Like all Monese accounts, the student account can be opened in just 2 minutes, with no proof of address or UK credit check, giving access to all of the following:
1. Free checking account in UK
2. Free Euro IBAN account
3. Free contactless debit card
4. 6 free ATM withdrawals per month
5. Free and instant transfers between Monese accounts
6. Currency exchange at key market rates with only 0.5% fee
7. Multiple ways to top up including local / international transfers, card top ups and cash top ups at 40,000 payment points and post offices
Norris Koppel, CEO and Founder of Monese, says:
“Going to college can be extremely expensive, and with all the major banks desperately offering overdraft facilities, many students will find themselves stuck in a spiral of debt that can take years to pay off.
This is a huge concern, so we want to help students focus on building the foundation for their future by offering them free safe and secure banking for one year with the Monese Plus plan, which they can open in just 2 minutes, without proof of address or credit. Check.”