An online bank for everyone

Le site Monabanq 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.

Premium up to $ 120 when opening an All Inclusive Account (paid by 1/12 on the account each month only if 10 payments / month each month, for a monthly total of $ 300, by card, to be made within 10 months of opening)
Offer valid from 06/02/17 .

Menu Amount

VISA International card
(immediate or deferred debit)
$ 24 / year

(immediate or deferred debit)
$ 60 / year

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 - visuel du compte courant
Current account transactions

Visual of the interface of the Monabanq site

Monabanq - visuel de l'interface de virement ponctuel

Visual of the interface of the Monabanq site

Monabanq - visuel de l'interface de remise de chèques
Rebate checks

Visual of the interface of the Monabanq site

Monabanq: the services available

Our opinion on Monabanq
Unfortunately Monabanq still charges bank cards . Even if the contributions remain reasonable and are lower than in a so-called traditional bank, the advantages (no minimum income required, no mandatory minimum monthly deposit) provided by the Monabanq offer find it difficult to justify these costs in the face of the efficient and comprehensive offer from other online banks.
The presentation of the pages of the public part blog-style is repulsive, completely out of step with a banking offer behind it, however very serious and a well-thought-out, ergonomic and clean account management interface. The huge text font, the neon worm color and the multiple photos don't really look serious and inspire little confidence. It's a shame such a visual mess.
In this maze of colors and squares of text, it is impossible to find a FAQ (Frequently Asked Questions) worthy of the name. This is, again, not up to a banking service.
Finally, the conditions for paying the premium when opening an account, which are supposed to attract customers, are particularly complicated to understand and restrictive. It must obviously have taken several hours of brainstorming from the marketing department to achieve such a result! ;-)
However, the service offered by Monabanq remains excellent and of high quality , as can be seen directly from the opinions of Monabanq customers who responded to a certified internal survey: 92% of Monabanq customers recommend the establishment and give an overall rating of 4.1 / 5 (out of 1,362 ratings) . Collection of real, authentic and certified opinions (NF Z74-501 standard).

Premium up to $ 120 when opening an All Inclusive Account (paid by 1/12 on the account each month only if 10 payments / month each month, for a monthly total of $ 300, by card, to be made within 10 months of opening)
Offer valid from 06/02/17 .

Summary of the offer at Monabanq
Basic services
Account opening / closing FREE
Subscription / Account management FREE
Bank card FREE
ATM withdrawals (us dollar zone) FREE
Checkbook order (simple sending) FREE
Online transfers (in $, US dollar zone) FREE
Specimens FREE
Purchases (in $, in US dollar Zone) FREE
Delivery of checks (excluding postal costs) FREE
Call for an advisor FREE
Proposed services
CB network
CB type Classic or Premier Visa
Mobile app YES
Minimum income to obtain free CB no minimum
Weekday customer service hours 8h00-21h00
Saturday customer service hours 8h00-16h00
Income domiciliation obligation NO
Contactless payment (NFC) YES
Apple Pay (NFC) NO
Automatic activation of contactless Not specified
ATM cash withdrawal fees Outside us dollar zone 2%
(included in the Premium offer)
Purchasing fees outside the us dollar zone 2%
(included in the Premium offer)
Free second card contribution on joint account Not specified
Bank check FREE
Cash payment YES (in GAB CIC)
SMS account status alert YES
Modification of the CB limit online YES
Online CB opposition ?
Stop a check online ?
Download operations (OXF, QIF, CSV type) NO
Editing an account statement on the Internet FREE
Customization of the credit card code NO
Demonstration site NO
3DSecure ?
Visual categorization of expenses NO
Double authentication online account access NO
Bank domiciliation change help NO
Savings book rate (gross) 0.1%
Premium Card (Premier) YES
Prestige CB card (Infinite) NO
Consumer credit YES
Real estate loan NO
Management / revocation of direct debit mandates ?
Additional insurance means of payment, keys, papers ... 24 € / year
Sending free checkbook (simple mail) YES
Authorized overdraft rate 6.90% / year
Unauthorized overdraft rate Regulatory rate cap minus 0.05%
Card opposition fees (loss, theft, fraud) by the bank FREE
Advance CB renewal FREE
Choice of CB visual Not offered
Simple classic card NO
Chat with an advisor NO
Possibility of opening a savings account YES
Free paper monthly statement sending Not specified
Opening of an A booklet YES
Opening of a LDD YES
stock Exchange NO
Opening a Life Insurance NO
Inactive account fees / no credit card use YES
30 € / year if inactivity for more than 12 months
open a Monabanq account
Consult the Monabanq price brochure

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