Monzo has launched in Spain, its first market in continental Europe. The UK digital bank announced on 28 October 2026 that Spanish customers can now apply for its free personal, joint, under-18, business and instant access savings accounts, all managed in one app.
Each account comes with a Spanish IBAN and is integrated with Bizum, the mobile payment service most Spaniards use for everyday transfers. Monzo says it is registered with the Banco de España, and the country operation is led by Country Manager Francisco Sierra.
The launch follows a staged European rollout. Monzo secured its European banking licence from the Central Bank of Ireland in December 2025, launched in Ireland in April 2026 and opened a Spanish waitlist in May 2026 to test the product with early customers. In the UK, the bank reports 16 million customers, including 1 million business customers.
Monzo’s own research, published with the launch, found that almost six in ten Spaniards have faced unexpected banking fees, and that only 26% of Spanish small and medium-sized businesses believe their business banking offers good value for money.
What it means for users: if you live in Spain, Monzo is now a real option for a primary or business account. Before moving large balances, check the account terms for which deposit guarantee scheme covers your money, and compare its savings rate and fees with the alternatives in our Monzo EU review.
Source: FF News — Monzo Accelerates European Expansion with Official Launch in Spain
Source: https://ffnews.com/news/monzo-expands-european-footprint-with-launch-in-spain-74b0373b