For professional use, you must subscribe to the SWIFT Online directories at the SWIFT website. Monzo Bank Ltd (/ ˈmɒnzoʊ /), is an online bank based in the United Kingdom. The SWIFT code identifies the bank the payment is headed to, while the IBAN gives the details of the specific account the deposit needs to end up in. Banks and other transfer services have a dirty little secret. Our Financial Services Register number is 730427. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. Swift codes also known as BIC Codes is a unique bank identifier used to verify financial transactions such as a Bank Wire Transfer. Trusted by millions, fully regulated, so your money’s safe and secure. Please note that any IBAN or BBAN account numbers which appear on this page are used as examples, and shouldn’t be used to process your transfer. Monzo has some close rivals, and we can have a look at them below to see if you would prefer one of those instead. In other words, only through TransferWise can you send money abroad from the Monzo account or receive money from abroad. TransferWise uses the real exchange rate to help expats, foreign students, businesses, freelancers and people living international lives to send, receive, and spend money — securely, conveniently, and at a very low cost. When assigned to a non-financial institution, the code may also be known as a Business Entity Identifier or BEI. All the information published on this website is strictly for personal use only and should never be used without verification, on any type of transaction. As soon as you want to transfer funds FROM an international bank TO Monzo, that’s when the glossy colourful vaneer comes off. 5/5 star rating and more than 100.000 reviews on TrustPilot. A standard bank account number isn’t enough. If you're making or receiving a payment to a Monzo Bank account and you want your money to arrive quickly and safely in United Kingdom, you’ll need to provide the bank with a few extra details. To make an IBAN, banks combine local account details into one string of characters. It is a very popular digital bank for UK customers, with a full banking license. Finding your Monzo Bank IBAN shouldn't be difficult. Monzo Bank - SWIFT codes in United Kingdom The SWIFT code for Monzo Bank is MONZGB2LXXX. Bank code A-Z 4 letters representing the bank. You'll need to use one when sending money internationally. That’s because the system is not yet connected to the SEPA and SWIFT networks, though Monzo has stated for a couple of years they are “working on” this. An IBAN is a unique identifier that’s used to distinguish your bank account from all the others around the world. Kindly check with your recipient or with the … Your money is protected with bank-level security. Europe, Middle East and Caribbean countries have adopted the use of International Bank Account Number (IBAN) for international funds transfers. They both … However, these 2 codes each have different purposes. What is IBAN code for Monzo Bank in United Kingdom? The SWIFT code identifies the bank the payment is headed to, while the IBAN gives the details of the specific account the deposit needs to end up in. The IBAN system helps guide international payments to the right account, by giving the banks processing transfers an indication of the country the account is held in, as well as the specific account number. In the process of the Single Euro Payments Area the European central banks have agreed on a common format based on IBAN and BIC including an XML-based transmission format for standardized transactions; the TARGET2 is a joint gross clearing system in the European Union that does not require the SWIFT network for transmission (see EBICS). Check the MONZGB21XXX SWIFT / BIC code details below. if the second character is "0", then it is typically a test BIC as opposed to a BIC used on the live network. The IBAN system helps guide payments, typically international settlements, to the right account, by giving the banks processing transfers an indication of the country the account is held in, as well as the specific account number. Protection for your money Your eligible deposits in Monzo are protected by The Financial Services Compensation Scheme (FSCS) up to … The digits that follow are the individual’s basic bank account number, which shows the account number and bank branch to help guide the payment. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. You can either work out your IBAN based on the example above, or find everything you need by logging into MONZO online banking, or checking your bank statement. 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