Mobile trading / Apps
Monzo mobile app is the company's key technological platform. It is very user-friendly, proving to be a very convenient way to manage everyday spendings. There are five tabs in the app: Home, Summary, Account, Payments and Help. "Home" displays the account balance and the amount of money spent on that day. All the expenses are listed chronologically and you can tap on them to get more details such as the address of the shop, payment history, receipt and notes.
"Summary" gives an overview of your monthly budget. The spendings are organised into twelve categories: General, Transport, Groceries, Eating Out, Personal Care, Bills, Finances, Entertainment, Expenses, Family and Holidays. Every payment made with a Monzo account is automatically registered in one of these categories. It's a great tool that makes budgeting easier.
At the end of each month, you are able to see how much you are spending on a single category, or even in a single shop. The "Account" tab gives access to the bank account information (BIC, Sort Code, Account Number) and to the Monzo card features (pin, freeze, report stolen, etc.). You can pair your card with a Google Pay account from here. The "Payments" tab is where you will find all the options to send or request money, in the UK and internationally.