MONABANQ

An online bank for everyone

Monabanq is the Crédit Mutuel group's online bank . It has 200 employees and is based in the north of France.
Its current account offer, at $ 2 / month, is accessible WITHOUT income CONDITIONS and WITHOUT direct debit .
This offer is therefore open to everyone: job seeker, student, beneficiary of social assistance, employee, non-employee etc.
Monabanq has received several awards for the quality of its services, its technological innovation and its relatively low costs compared to traditional banks. Our analysis here exclusively concerns the online banking offer of monabanq.

Open a current account with Monabanq?

Several possibilities for account opening procedures:

• request on the website documentation by post to complete and return signed,
• call an advisor (Azur number - local rate from a landline) to complete the agreement with him, which will be sent by email immediately,
• finally, the simplest and fastest solution : complete your application online, directly on the website. All you have to do is complete the online form, then download the contract, and finally, return it signed to Monabanq, accompanied by the required supporting documents.

The supporting documents requested by Monabanq to request the opening of a bank account are:

• Photocopy of both sides of a valid official identity document bearing a photograph,
• Proof of address of less than three months (bill from your electricity, gas or telephone operator),
• RIB from a bank located in France
• A check payable to you (surname and first name) and endorsed (signed on the back of the check), drawn on your Bank established in the European Economic Area, for a minimum amount of $ 150 in the event that you request the delivery of means of payments.

A first deposit of $ 150 is required to open a checking account. These funds are not blocked. You can resume them at any time.

It is not required to domiciliate his salary .
The opening, management and closing of a Monabanq current account are completely free operations, as is access to the website.

Your Monabanq account is now open. A few days after sending your signed contract and supporting documents, if everything is in order, you will receive an account opening confirmation. Finally, your means of payment will be sent to you (card and code separately).
You can then consult your accounts online and carry out all current transactions there.

Conditions to be met to open a Monabanq account

The new site (public part) having become particularly complicated and not very user-friendly, it was impossible for us to find the conditions to be fulfilled to open an account with monabanq. Nothing is clearly stated. Nothing in the semblance of FAQ either (which boils down to answers posted on the forum). So a priori anyone can make a request, but that's still a guess.

The bank card at Monabanq

Monabanq remains the only online bank to charge credit cards! Surprising, in the face of significant competition with players now well established in the sector.

Monabanq: the advantages

• No income condition as the competition often demands. With or without income , you can offer a deposit account at Monabanq.
• No obligation of domiciliation of income (identical to the competition),
• No obligation to pay a minimum each month (this is a request from certain competitors to take advantage of the free bank card) ,
• No value date for the remittance of checks which is registered directly on the website before sending by mail.
• The possibility of supplementing then by opening a savings account , life insurance , a livret A , LDD , access to the stock market ...
• Non-surcharged number to reach an advisor (service based in France), Monday to Saturday 8 a.m. to 9 p.m. - 9 a.m. to 6 p.m. on Saturday.
• A simple and clear account management interface (far from the new ergonomics of the public site, oddly completely out of place and become illegible)
• Emergency reissue of the bank card and code anywhere in the world, free of charge
• Monabanq is the first online bank to give its customers access to more than 2,000 CIC automatic teller machines to deposit cash and checks into their Monabanq account. Monabanq can in fact count on CIC's network of distributors, since it belongs to the Crédit Mutuel-CIC group.
• Take advantage of 2 free options . The first is the card that saves: it reimburses all or part of the contribution to your account. The second is budget coaching . A Monabanq expert can help you better manage your budget.
• Non-surcharged phone call to reach an advisor: Monday to Friday from 8 a.m. to 9 p.m., Saturday until 4 p.m., without interruption.
• There is only one type of account: the Current Account at 2 € / month , including the bank card and a Premium option of the account, with an increase in the monthly payment (6 $ / month).
  This option allows in particular:
  - use your bank card anywhere in the world free of charge ,
  - have access to more comprehensive insurance ,
  - and a second VISA Classic card included.

Monabanq: the disadvantages

• A subscription still relevant to access the account and the payment card. Hard to understand for an online bank these days.
• Account maintenance fees without operation for more than a year: € 30 / year.
• The public interface of the site, like a personal blog, overhauled for several months, is in total opposition to the impeccable quality of the service offered . Scrumptious, with lively and aggressive tones, it is unsuitable for seeking precise information. It is astonishing that Monabanq keeps this graphic charter which should not encourage potential customers to make a request to open an account, while the private account management interface is impeccable.

Monabanq: user interface visuals

Monabanq: the services available

• Current account with Visa Classic or Premier card
• Savings book (no opening, deposit or closing fees)
• Sustainable Development Booklet (LDD)
• Livret A (no opening, deposit or closing costs)
• Insurance (auto, home, health, death, disability, job loss)
• A credit offer.
• Note the disappearance of the life insurance offer, which was nevertheless one of the best on the market a few years ago.