Monzo has officially launched in Spain, offering personal and business accounts with local IBANs and Bizum integration, marking its first entry into continental Europe, FFnews reports.
Monzo has introduced its full banking suite to the Spanish market, operating as a fully regulated entity registered with the Banco de España. The rollout includes free personal, joint, under 18, and business accounts, alongside instant access savings, all managed through a single mobile application. To ensure local utility, every account features a Spanish IBAN and full integration with Bizum, the dominant mobile payment service in Spain. This launch follows a deliberate European expansion roadmap: the bank secured its European banking licence from the Central Bank of Ireland in December 2025, launched in Ireland in April 2026, and opened its Spanish waitlist in May 2026.
The bank’s entry is underpinned by research into local consumer frustration. Monzo found that 48% of Spaniards who distrust their current banks believe the institutions do not have their best interests at heart, while nearly 60% have faced unexpected fees. Furthermore, 47% of consumers reported needing a translator to understand their bank’s terms or communications.
In the business sector, only 26% of Spanish small and medium-sized enterprises believe their current banking offers good value for money. Monzo aims to capture this market by leveraging its existing scale, which currently includes 16 million customers in the UK—representing one in four adults—and one million business customers.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
