Monzo Casinos

Given the fact the UK is one of the most well-established online gambling markets in the world, it should come as no shock to learn that there are many excellent local payment solutions players are using for their deposits and withdrawals across UK-licensed sites, like Monzo. This is literally your virtual bank, the solution you'd wish to use the minute you find out that with it you can save, spend, and manage your money all in one place. By downloading one single app, you get access to all major banking services as a UK resident, meaning you get to make all kinds of transactions online and offline, including deposits and withdrawals across the top UK casino sites. If it sounds just like the solution you'd like to try out, stay with us to learn more about it. What is Monzo and what steps to take in order to start using it across UK casinos?

About Monzo

Launched almost a decade ago, in 2015, Monzo Bank Ltd is a virtual bank app, which is regulated by UK’s Financial Conduct Authority and authorized by the PRA (Prudential Regulation Authority). When you learn how easy it is to use, you’d think it is a simple payment app, but it is far more than that. It is really a bank, a new kind of bank, duly registered in the Financial Services Register and headquartered in London, a highly innovative and modern one you get started with via your smartphone.

It is an incredibly safe solution, and the money you store on the account will be protected by the Financial Services Compensation Scheme, of up to £85,000 per person. It uses cutting-edge tech to keep your money safe at all times. The best part about it is that it is effortless to get started with and use, so as long as you’re a UK resident, you’re meeting the only condition you need to do it. And assuming you do, with it, a whole new world of next-gen online banking services is unlocked.

Over 9 million people are already using it for their daily purchases and payments but for so much more. With it, you can save money and earn up to 4.92% interest on your savings, as long as you deposit a minimum of £500 to open your virtual account and forget about your money for 6 months while you earn interest on it. You can manage your money by paying Direct Debits through your account and you’ll be informed if they’re higher for the upcoming month, so you don’t get any unpleasant surprises. The solution also offers three different cards you can use locally or abroad, anywhere where MasterCard is accepted. You can also get credit and get loans and overdrafts, so basically, really do anything with your account as you would do with a standard bank account.

You can, of course, spend your money, and for each transaction you make, you will get instant notifications. You can also set budgets and get warnings if you want to inform you if you’re spending more than you should or too fast for things like going out or groceries, or online casino deposits.

On that note, the solution is already offered across top UK-licensed online casinos. You will surely find it across your favorite sites, like SlotsNBets, for instance, so continue reading to figure out how to get started with it to eventually start using it for your deposits and withdrawals.

Getting Started with It

At the moment, you must be a UK resident in order to get started with it, even though the solution has shared plans on launching internationally in the future. So, the only condition you must meet in order to get started with it is to be a 16-year-old or older UK citizen with a smartphone.

Assuming you are, to open your account, you’ll just need to download its app on either your Android or iOS device, by visiting Google Play Store or Apple App Store, respectively. Once the app is installed, in just a few minutes, you can start using it, after you sign up by providing your email address and your ID (biometric residency permit, national ID card, driving license, or passport). You’d need to carefully read and eventually accept its Terms and Conditions for your account to activate and that would be it.

Immediately, you can start storing, sending, and managing your money via your bank app. You will need, of course, to add money to your account first. You can do that via bank transfer, cheques, your salary, and even cash, by depositing at any of the 11,500 Post Offices or 28,000 PayPoints across UK.

Once your account is funded, you can start using the solution. Keep in mind that once your account is ready, the solution will send you a card as quickly as they can to the address you provided. Once it arrives in the post, activate it easily and start using it right away. Both the account and the card can be used across many UK casinos. Follow our lead, as in the next section, we’ll tell you the exact steps you need to take to successfully fund a casino account and cash out winnings from it with this incredible solution.

How to Deposit with Monzo at an Online Casino?

Given the fact the solution was launched almost a decade ago, you shouldn’t be surprised that it is an option for deposits and withdrawals across many UK casinos. This is a local solution with 9 million UK users, most of which are online casino players. Operators are aware of how important it is to cater to local players in the best way possible, and that’s why more and more of them are adding this incredible solution to their accepted methods lists each month.

We mentioned SlotsNBets as one excellent option, but explore the UK casinos reviewed here at LCB, and you’ll certainly find plenty of other options. Once you’ve decided on the site to join, register an account with it. From here, to successfully make a deposit with Monzo, do the following:

1. Log into your registered casino account and head over to the Cashier/Banking page.
2. Look for Monzo’s logo in the Deposits section and press it.
3. In the pop-up, the casino’s bank account number and sort code should be displayed; copy them.
4. Enter your Monzo app, tap Payments, then tap Pay, and finally tap Pay by bank transfer.
5. Follow the instructions, but mainly, provide the casino’s name and paste the bank account number and sort code.
6. Confirm your transaction and in an instant, the money will arrive on your casino balance.

Side notes: 1. If the casino’s bank account number and sort code are not provided here, make sure you get in touch with its Support team to get them. 2. If you’re making an international transfer, you can still make a SWIFT transfer, but also use Wise. 3. If you prefer using the card, make the deposit as you normally would do with any credit/debit card, by providing the needed card details. 4. And finally, transfers usually happen instantly, but the most they can be delayed is up to 4 hours.

How to Make a Withdrawal with It?

You can make withdrawals with the solution in the same way you made a deposit: by providing the needed banking details.

If you’ve joined a casino that is based in a different country, SWIFT transfers will do. You’d need to share your IBAN with the casino, to receive any amount of money in 40+ currencies converted to pounds. All you have to do is select the solution in the Withdrawals section, enter the IBAN, and the amount you wish to cash out in pounds. Your IBAN is on the "Manage Account" screen of your app, next to the other account details like account number and sort code.

With local transfers, the money should arrive in your account within 2 hours, while with international transfers, it may take a few days before it arrives.

Applicable Fees

Monzo is a completely transparent bank, informing you explicitly that it charges fees for some of its services, like any other bank.

You can learn more about the fees on the official website, but for general account services, you are charged £0. Account maintenance, direct debits, standing orders, sending money within the UK, and receiving funds in GBP are all fee-free. A 1% conversion fee applies for receiving funds in euros or other foreign currencies.

Accepted & Restricted Countries

As introduced, this is a payment solution designed for UK residents, and as such, currently, it only serves UK citizens.

It is active in the US. too, but with a completely different offering, and has shared planes to go international in the future. At the moment, to get it as it is, as explained here in this article, you must be a UK resident. Unless you are, feel free to skip the rest of this article, as this is not a solution you can use.

Available Currencies

The UK pound is the default currency when using the solution, even though thanks to its SWIFT offering, the euro is supported, too.

You can basically receive payments in 40+ foreign currencies, but these will be converted to pounds before they arrive on your account, subject to conversion fees. That’s why the wisest thing to do is join a casino that accepts UK pounds, to not pay any fees that could’ve been avoided.

Customer Service & Support Options

There’s a Help page you can explore on its official website, containing useful Help Articles you can read to find out more about the most frequent questions users are asking normally. The solution appreciates feedback and builds the next-gen bank with the aid of its community, so it encourages you to report any issues and submit any complaints through the App Chat, the local phone line 0800 802 1281, at complaints@monzo.com, or via the post, on its headquarters address.

If you need assistance with general things and have some questions to ask, make sure you write its team an email at help@monzo.com. There’s also a line for those calling from abroad +44 203 872 0620, but if you’re calling from the UK, use the local line. These are at your disposal only for Customer Support queries.

Written by ShellyS

Senior Content Writer

Expert On: Casino Banking reviews Gambling Regulations US Sports Betting

8 years of experience

531 Written reviews

Shelly has been writing for LCB since March 2018, with a strong focus on banking reviews. Her work helps players understand payment methods, fees, limits, and transaction processes across various casinos. She also covers gambling regulations, offering insights into licensing and player safety. Her goal is to deliver trustworthy, well-researched content that supports smart, secure gambling decisions for players and LCB members.