Key Takeaway: Monzo Bank does not directly offer share trading and investing through its digital banking platform. The only method available to customers of Monzo is to transfer GBP from their account to an FCA-licensed brokerage platform.
If you are looking to get started quickly, we recommend the eToro platform because they offer fast and cheap GBP or EUR deposits directly from Monzo Bank.
Can I buy Shares or Stocks with Monzo?
Unfortunately, no. The Monzo online banking platform does not offer any investment services for personal or business bank accounts. The bank does allow customers to withdraw funds from their accounts to Financial Conduct Authority (FCA) licensed brokers to buy and sell shares, ETFs, commodities and other assets.
Monzo does offer some financial services which include high GBP deposit rates and cash ISAs for customers to earn interest passively through their savings accounts.
How to Buy Shares with Monzo Online
The safest and easiest way to invest or trade shares with your Monzo Bank account is through a licensed brokerage platform. We recommend the eToro UK platform because it is the most compatible with Monzo Bank accounts and offers over 8,000 stocks, ETFs, commodities and other assets. The eToro brokerage is also licensed and regulated by the FCA in the UK.
You can get started buying shares in 4 simple steps:
- Sign up to eToro and verify your identity.
- Click 'Deposit Funds' and pick a method and send funds to eToro from Starling Bank.
- Search for the shares you want to buy in the search bar, and tap 'Trade'.
- Input the amount you want to purchase and select 'Set Order'.
Can I invest in Monzo Shares?
If you are a fan of the Monzo digital banking platform and want to invest in their stock or shares, you are out of luck. Monzo Bank is privately owned and is not currently listed on a public exchange like the London Stock Exchange (LSE). According to the Monzo CEO, the company will likely IPO and go public by the end of 2023 depending on economic conditions.
About Monzo Bank
Monzo Bank is a digital-only challenger bank in the United Kingdom that offers personal and business current accounts. The company was founded in 2015 by Tom Blomfield, Paul Rippon, Jonas Huckestein and Jason Bates. Monzo Bank has over 8 million customers as of 2022 and is one of the fastest growing banks in Europe. The company has raised over £475 million from investors including Passion Capital, Accel Partners, Stripe and Y Combinator.
The bank is best known for its Monzo prepaid Mastercard which allows customers to hold and spend multiple currencies with no fees. The card can be used anywhere in the world that accepts Mastercard payments. The company also offers personal and business current accounts with interest rates of up to 5% AER.