FAQ

When attempting to sign in on a new device, an OTP (One-Time Password) will be sent to the mobile device associated with the registered mobile number. Once the OTP is entered correctly, input your PIN to complete the login process. An email will also be sent to the registered email address to confirm the new login.

You can explore our plans page for more details about our offerings. The Starter plan includes:

• Dedicated individual Euro IBAN
• MyMonty virtual debit card
• MyMonty contactless physical card
• Enhanced data security & privacy
• Customer support
• P2P money transfer
• Global ATM withdrawals
  

Currently, we offer a Free Starter account to our customers, which provides all the essential features to ensure your experience with MyMonty is comfortable.

To locate your IBAN, navigate to “Profile,” tap on your name, and then select the “Personal IBAN” option.

Yes, each deposit in your IBAN is insured by FSCS for up to €100,000.

An IBAN is a unique code used to identify a specific bank account for cross-border payments. Knowing your beneficiary’s IBAN ensures that your international payments reach their destination securely.

Connecting your email adds an extra layer of security to your account. An OTP will be sent to your provided email address. Please enter the OTP in the designated field and tap "Verify."

We currently provide services within the European Economic Area (EEA).
The EEA includes Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

After you submit your KYC documents, we will review your application. Please note that the verification process may take up to 3 hours during a working day.

Upon submitting your verification documents, a liveness check is conducted. Smile for the camera and snap a selfie. The final step involves verifying your home address. Please upload a utility bill dated no more than 3 months from today’s date.

KYC, or Know Your Customer, is a standard practice where companies verify the identity of their clients to comply with legal requirements and regulations. In the digital age, KYC helps prevent online fraud and meets global financial standards.

To onboard on our platform, please upload one of the following official documents for the KYC/AML check:

• Passport
• Driving License
• ID Card
• Proof of Address such as utility bill
  

To create an account, follow these steps:

• Download the MyMonty app from the Apple Store or Google Pay, or access it via our web app. (Link doesn’t work)
• Enter your phone number.
• Enter the 6-digit code received via SMS on your mobile device.
• Follow the instructions to verify your identity.
  

Verification ensures that the payment request is authorized by you, the account holder.

• Tap the “Transfer” quick icon on the main page.
• Swipe to the “IBAN Transfer” tab.
• Choose the recipient from the list or tap “New Recipient”.
• Enter the recipient’s banking details (Recipient, Currency, IBAN…) and tap Next.
• Enter the amount and an optional description, then tap Transfer.

Important: Currently supports EUR SEPA transfers and BGN BISERA outbound transfers. You can save recipients for faster transactions in the future.

• Tap the “Transfer” quick icon on the main page.
• Select the recipient’s name from the list (ensure the MyMonty logo appears next to their name).
• Enter the amount and tap “send”.

Simply tap the "QR Code" quick icon, swipe to the "My QR Code" tab, set the desired amount, and generate the QR code along with a payment link. Tap “Share Link” to send it via any messaging app on your mobile device. Once clicked by another MyMonty user, the requested money will be sent directly to your account.

Tap the "QR Code" quick icon, swipe to the "My QR Code" tab, set the desired amount, and generate the QR code. When another MyMonty user scans it, the requested money will be sent directly to your account.

Your balance updates automatically after each transaction. View all past transactions under “Payment History” on the mobile app homepage.

Here are the transfer limits you should be aware of:

• Single Outgoing transfer – €3,000
• Outgoing transfer per 24 hours – €5,100
• Outgoing transfer per 7 days – €15,000
• Outgoing transfer per 30 days – €30,000
• Outgoing transfer per year – €100,000
• Total of incoming or outgoing transfers per month – €50,000
• Total of incoming or outgoing transfers per year – €180,000
• Transfer to IBAN top-up not exceeding €51,300 per month
• Credit/Debit card top-up not exceeding €30,700 per month
• Maximum account balance – €180,000

Please note that there is no limit on the number of P2P transfers.

• Top-up fee: The first top-up is free, and a 1.5% fee is charged thereafter.
• ATM withdrawal within SEPA region (EUR): 1.5% fee with a minimum of €1.
• ATM withdrawal internationally: 2% fee with a minimum of €2.
• ATM balance inquiry/PIN change: Free of charge.
• Transaction decline/return fee: Free of charge.
• POS domestic transactions: Free of charge.
• POS international transactions: Free of charge, plus merchant fees if applicable (FX passthrough).
• SEPA Transfer fee: €0.15.
• Faster Payments: €0.2

You can withdraw money globally from any ATM that accepts MasterCard.
Important tips:

• ATM and FX fees may apply when withdrawing money.
• We recommend withdrawing in the local currency of the country you're in.
• Please note any applied ATM fees.
• Opt to withdraw "without conversion" to be charged in the local currency. For example, if you're in Poland, withdraw in Zloty (zł).
• Choosing "with conversion" may result in additional fees due to the bank's exchange rate.

Your PIN is essential to safeguard your account from unauthorized access.

To deactivate your account, simply refrain from using it. After a period of inactivity, your account status will change to dormant.

For security reasons, the name and phone number provided during onboarding cannot be changed.

You can update your email address and occupation anytime within the app. Navigate to the “Profile” tab, select your name, and then tap on “Personal Details”.

To change your PIN, follow these steps:

1. Log out of your account if you haven’t already done so and close the app completely.
2. Open the MyMonty app and enter your phone number.
3. When prompted, enter your current PIN code. On the same screen, locate the "Forgot PIN" option in the lower left corner.
4. Select "Forgot PIN" and follow the prompts to enter and confirm your new PIN.
5. You will be asked to send a selfie holding your ID card to one of our associates via chat.
6. Ensure your face and the name and photo on the ID card are clearly visible in the photo. Obscure any other information on the ID card.
7. Please note that photos that do not meet these requirements will not be accepted, and your PIN change request may not be approved.

If you lose or damage your phone, don't worry! Your MyMonty account remains accessible without your phone. You can continue using all services.
To regain access:

1. Download the MyMonty app on your new phone.
   
2. Enter your phone number and follow the steps to receive an OTP verification code.
   
3. Enter your 4-digit PIN to log in and resume using your MyMonty account seamlessly.
   

Once your physical card is activated, you have access to the following controls:

• View card details: Click the "See details" button and authenticate yourself to view your card's details.
• View card PIN: Click the "View PIN" button and authenticate yourself to view your card's PIN.
• Freeze the card: Click the "Freeze card" button to temporarily deactivate your card.
• Destroy the card: Click the "Destroy card" button to permanently deactivate and discard your card.
• Add to Apple or Google Pay: If in-app provisioning is enabled, you can add your card to Apple Pay or Google Pay for convenient mobile payments.

If your physical card is approaching its expiration date, you can initiate a reissue by selecting the card and clicking on the "Reissue" button. To ensure you don't miss the expiration, we'll send you a push notification alerting you that your card's validity is ending soon.
The reissue process involves selecting a delivery address and PIN, similar to ordering a new card. Please note that card delivery fees apply. Your existing balance will be transferred to the new card once issued.

If you recover a card that you previously reported lost or stolen, please ensure to immediately destroy the found card by cutting it in half through the magnetic stripe and chip.

If your card is retained by an ATM, please freeze and destroy it using the app, then request a replacement card.

To change your PIN, visit any ATM that offers PIN change services for Mastercard. Follow the instructions displayed on the ATM screen for changing your PIN.

Your card displays an expiry date (the "Expiry Date") on it. After this date, your card and any linked bank account will no longer be usable. However, you can still receive and send funds to and from the account associated with the card.

Ordering a physical card follows a process similar to virtual cards:

• Navigate to the "Physical Cards" section in the Cards tab.
• Ensure you have completed KYC verification and have a non-zero balance.
• Tap on "Order Card" to begin.
• Start by entering the delivery details for the card.
• Proceed through two screens to choose and confirm your card PIN.
• Once you've entered the address and confirmed the PIN, review your details and confirm to initiate delivery of your card.

Virtual cards function similarly to physical cards but are exclusively used within the app. Once activated, they can be used immediately for online payments, contactless ATM withdrawals, and transactions at any contactless POS.

To retrieve your card PIN:

• Navigate to the "Cards" tab in your app.
• Swipe to select the card for which you want to view the PIN.
• Tap on "Show PIN". Your PIN will be displayed in no time.

A Personal Identification Number (PIN) is required for withdrawing money from ATMs or making payments at card terminals.

Only individuals aged 18 and above are eligible to use our payment services and onboard independently.

Our payment services are prepaid and not credit-based. You must maintain a sufficient Available Balance to cover your transactions and associated fees. If for any reason a transaction exceeds your Available Balance and is processed, you must promptly repay the exceeded amount, and we may restrict future transactions.

No, the Available Balance in your card or account does not accrue interest.

Transactions made in a currency other than your card's denomination will incur fees at the current exchange rate.

Your payment services may not be activated instantly until we verify your identity and meet all applicable regulatory requirements. We maintain records of this information as required by law.

You can add funds to your MyMonty debit card using the following methods:

• An external credit or debit card*
• SEPA
  *Please ensure that the bank card is issued in your name.

If your physical card is lost or damaged, please follow these steps to freeze it immediately:

• Tap on the card widget on your home screen
• Swipe to select the card you wish to stop
• Turn on the “Freeze card” toggle

The replacement card will be mailed to the most recent address registered on your account.
PS: Please ensure the address provided is accurate to avoid a card replacement fee. We will contact you the day before delivery.

You can easily replace your card if it's damaged or expired:

• Open the MyMonty app
• Navigate to the card tab
• Freeze the card by tapping the "Freeze" card toggle
• Tap on the "Destroy card" link that appears once the card is frozen.
  Once destroyed, you can reorder physical/virtual cards. A delivery fee will apply again for the physical card.

Yes, there is a €5 delivery fee to cover the cost of delivering your card.

• Top-up fee: The first top-up is free, and a 1.5% fee applies thereafter.
• ATM withdrawal/SEPA region (Eur): 1.5% fee with a minimum of 1€.
• ATM withdrawal/international: 2% fee with a minimum of 2€.
• ATM balance inquiry/PIN change: Free.
• Transaction decline/return fee: Free.
• POS domestic: Free.
• POS international/transaction: Free, plus applicable merchant fees (FX passthrough).
• Delivery fee: 5€.
• Replacement fee: 2€.

• Single Payment POS: €5,000
• Single ATM Transaction: €200
• Single Top-up: €5,000

Transaction limits per 24 hours:

• POS transactions: €10,000 or 50 payments at POS for digitized or virtual cards; 20 payments at POS for physical card
• ATM transactions: €1,000 or 5 ATM withdrawals
• Top-up transactions: €10,000 or 50 top-ups

Transaction limits per 7 days:

• POS transactions: €15,000 or 120 payments at POS for all card types
• ATM transactions: €4,000 or 35 ATM withdrawals
• Top-up transactions: €15,000 or 100 top-ups

Transaction limits per 30 days:

• POS transactions: €30,000 or 300 payments at POS for all card types
• ATM transactions: €10,000 or 90 ATM withdrawals
• Top-up transactions: €30,000 or 300 top-ups