Summary: Monese Bank is a digital bank based in the UK that offers traditional banking products and services. It regrettably does not offer any form of investing services. To buy shares with Monese, you will need to go through a secure share-brokerage platform.
The most secure and affordable exchange in the UK is eToro. eToro is a multi-asset investing platform that offers investment opportunities in six asset classes including shares, ETFs, commodities, indices, forex and cryptocurrencies. Additionally, it offers unique features like Copy Trading, that allow users to mimic the trades of successful eToro investors.
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What is Monese Bank
Monese Bank is a digital banking service that was founded in 2015 by entrepreneur Norris Koppel. Offering fast and convenient banking solutions to customers around the world, Monese Bank aims to provide users with secure and easy-to-use services that help them manage their money more efficiently. Unfortunately, it doesn't currently offer any share-investing feature through its platform.
The best way to buy shares with Monese Bank is by sending funds to an FCA-regulated exchange and buying stocks directly there. We recommend using the eToro exchange, it is regulated by both the FCA and CySEC. eToro is available to use in over 140 countries and the platform can be used in 20 languages. To learn more about this exchange, visit our eToro Review.
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How to buy shares with Monese Bank in UK
If you want to buy shares with Monese Bank, the best way is by using the eToro UK platform. Monese Bank account holders can deposit funds to eToro via Bank Transfer, Credit/Debit Card, Skrill, Neteller, PayPal, Trustly, Rapid Transfer and Klarna. Follow the below steps to get started.
- Sign Up: Create an account on eToro and complete verification.
- Deposit Funds: Click 'Deposit Funds', pick a method and send money from Monese Bank.
- Find Asset: Head to the search bar, type in the asset you want to buy and tap 'Buy'.
- Buy Share: Input the amount you want to invest and click the 'Set Order' button.
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Is it expensive to purchase stocks?
When investing in shares, there are a variety of fees that you will need to be aware of. These include the brokerage fee, which is charged when placing buy or sell orders, as well as the deposit fee, which is charged when you deposit funds. Additionally, there may also be withdrawal fees and foreign conversion fees depending on what exchange you're using and in what currency they are denominated.
However, on eToro the fees are minimal as they offer free deposits for every supported payment method, and they offer zero commissions (no brokerage fees) on shares and ETFs. Meaning, it's completely free to invest in shares on eToro. There is only one small fee of $5 for every withdrawal to your bank account. For more details, visit eToro's Fees Schedule.
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