Like any online payment option, and especially with online gambling, scamming and online hackers are a true but grim reality to keep in mind. Did you know that you can’t always use the same banking account you deposit from, to withdraw your winnings? Choose a payment provider that is flexible, safe and cost-effective for online casinos.
Before signing up at the nearest online casino, take the time and find out about the payment options it provides. You need to consider all factors – transaction fees, hidden costs but most of all, safety.
Monzo Online Casinos List 2023
|1||100% Up To £100 + 20 Freespins|
|Sign-Up||*18+. New UK Players only. Opt-in required. 20 Bonus Spins on “Sahara Riches Cash Collect”. 100% Deposit Bonus up to £100 on first deposit. Min deposit £10. 30x wagering on Bonus Spins and Deposit Bonus. Game weighting applies. Max £5/spin or £0.50/line or £50/round (live casino). 30 days expiry. Applies only with a bonus link. T&C Apply Please gamble responsibly • BeGambleAware®: Gambling Help & Gambling Addiction ||
|2||100% Up To £100 + 300 Bonus Spins|
|Sign-Up||18+ Full T&C's Apply. New players Only. £10 min deposit. £5 max bet using bonus. 40 x wagering applies. Bonus valid for 14 days. 30 Spins on Starburst games will be credited instantly + then 30 per day for 9 days. Free Spins valid for 72 hours from credit. Max Free Spins winnings £100. Skrill + Neteller excluded. Always refer to Bonus Terms - www.begambleaware.org T&Cs Apply|
|3||£30 Free Spins wager free when betting £10|
|Sign-Up||First deposit only. Min deposit & spend £10. Max 30 spins on Fishin Frenzy Megaways at 10p per spin. Spins credited upon spend of £10. Full T&Cs apply. T&C Apply|
|4||100% Up To £300 + 50 Free Spins|
|Sign-Up||18+. New Players Only. Min. deposit £20. Max. bonus bet is £5. Bonus spins on selected games only and must be used within 72 hours. Winnings from Bonus spins credited as bonus funds and capped at £20. Bonus funds expire in 30 days, unused bonus funds will be removed. Welcome Offer is 100% match up to £300 plus 50 bonus spins on your 1st deposit. Bonus funds are separate to Cash funds, and are subject to 40x wagering the total bonus & cash. Only bonus funds count towards wagering contribution. Affordability checks apply. Terms apply. BeGambleAware.org.|
|5||Wager on any slots & Get up to 200 Free Spins on Book of Dead|
|Sign-Up||New players only.Min £20 deposit. 40 spins on book of Dead per day after each qualifying wager in first 5 days.Max withdrawable winning £250.Ewallets excluded.Full T&Cs apply.|
Comparing the best Monzo online casinos
At the moment Monzo is exclusively available to UK residents, making the number of casinos that accept this payment option fairly limited compared to other longer established online payment methods.
Monzo is a fairly recent payment provider available (started up in 2016) but they hope to reach more countries in the future. If you are a British resident you have a whole list of online casinos to choose from. Just take a look at how we have compared our top Monzo casinos in the table below:
|Casino Name||Monzo Deposit||Monzo Withdrawal||Withdrawal Time||Visit Casino|
|Casumo||£10 min, no fees||£5,000||24 hours||Visit|
|Genesis Casino||£20 min, no fees||£5,000||1 – 3 days||Visit|
|MrQ Casino||£10 min, no fees||£5,000||24 hours||Visit|
|Barz Casino||£10 min, no fees||£5,000||24 hours||Visit|
|Kwiff Casino||£20 min, no fees||£5,000||1 – 3 days||Visit|
Using Monzo at UK online casinos
Monzo is an easy and cost-effective option you should consider. This fully authorised UK bank account allows you to spend, save and manage your money, all in one place. With millions of users using the convenient mobile app daily, Monzo Bank LTD is ideal for online casino players who need a flexible and safe payment option. They are rapidly increasing in popularity at an enormous rate, especially with millennials.
Monzo offers current, plus, business, joint and premium accounts with free and paid options to choose from. With built-in features like Spending Controls, Share with Us and Gambling Block to help you restrict your gambling or self-exclude, Monzo makes it ideal as a tool to control your spending when gambling online, with online support when and if you need it.
How to deposit using Monzo?
Opening an account is easy and fast – just download the Monzo app on either iOS or Android and after a few minutes, you’re done!
Deposit funds to your new account from virtually any bank account you may have. Depositing funds are hassle-free and easy to execute.
You simply go to the “home” tab, select “add money”, choose the method you prefer and follow the step by step guide. Your money should reflect in your Monzo account instantly.
After that, you simply choose the online casino of your choice, select Monzo as your payment method in the casino’s cashier section and then select the amount of cash you would like to transfer. Follow the prompts and see your money reflect in your chosen casino as soon as you confirm it.
How to withdraw your winnings with Monzo?
When using a Monzo online casino you can withdraw your winnings just as simply and in only a few easy steps.
After signing into your online casino, choose the banking option from the lobby and opt to withdraw using Monzo.
The online casino you chose to use will process the transaction for you, and in most cases, your money will reflect in your Monzo account instantly.
To make a withdrawal you simply go to the “payments” tab, select “transfer” and follow the steps provided in the app.
Fees and Withdrawal Times for Monzo
There are no charges for transferring money to and from your Monzo account but be sure to check with your online casino to see if they charge for withdrawals or not.
Card payments in the UK and abroad are all free. Withdrawing cash in the UK or EEA (European Economic Area) is free for all withdrawals up to £250, with a 3% fee after. While you are abroad, withdraw up to £200 every 30 days for free, thereafter, a 3% fee will apply.
Depending on how you use your account, some transactions may attract a small fee – learn more about that on their Fee Information Document.
Take it as a rule of thumb – Monzo only aims to cover their costs and don’t make any profit from any charges they may levy.
Monzo is an online payment provider that is available any time you need it, day or night.
Advantages of using Monzo at online casinos
Monzo is free, easy to set up and no credit checks are required for a user to register. Its mobile app is modern, slick and intuitive when it comes to your personal, everyday financial needs. All it needs is for you to tailor what your needs are – in terms of budgeting and spending, and Monzo will do the rest for you – even by reminding you when you’re getting close to your spending limits for instance.
For those who play on the go, Monzo is an ideal casino payment method. It is easy to use and built for use with mobiles. Monzo continues to adapt and is setting new trends as a consumer bank, making it one of the most popular payment methods, especially among millennials.
Monzo has built-in features to help you curb your spending. Spending Controls, Share with Us and Gambling Block are helpful tools to use should you want to self-exclude or restrict yourself from spending too much on online casinos. They offer professional help to reduce gambling harms and help consumers gain control of their finances.
Your money is safeguarded by the FSCS (Financial Services Compensation Scheme), an independent fund that the government implemented to help keep your money safe.
Disadvantages of Monzo
If you need personalised in-person client services, Monzo is not for you. Monzo is an online registered banking service provider and cannot be compared to a traditional bank that offers a walk-in service.
There are withdrawal limits and fees will be levied when withdrawing more cash than is specified.
Monzo is currently only available to UK residents and has limited online casinos to offer its users.
Is Monzo safe to use at online casinos?
Being fully authorised and regulated by the FCA (Financial Conduct Authority), your online safety is their priority. The responsibility lies with you, as a user, to keep your information private and confidential. Pay by using your card as much as possible – it is always safer than doing a bank transfer or making an arranged payment over social media. The latter is not protected in the same way as card payments are.
KYC process of Monzo
“Know Your Customer” is essential when registering an account with Monzo. These processes may seem tedious but are essential to verify player identities and help curb money laundering, especially when it comes to online gambling.
Similar Payment Methods to Monzo
If you are familiar with Revolut, GooglePay and ApplePay, you will feel very comfortable when using Monzo. Monzo is a UK-based full bank account that comes with all that is expected from its competitors and offers so much more.
Do all online casinos offer Monzo?
Not all online casinos offer Monzo as a payment method. At the moment Monzo is only available to customers residing in the UK. This comes with a list of casinos that are available to British residents. Monzo is actively trying to reach more countries in the future to expand the available list of online casinos.
Is it safe to use Monzo for online gambling?
Monzo is fully protected by the FCA. The Financial Conduct Authority ensures that all its customers can enjoy the services of payment providers, including Monzo. FCA is made up of financial crime and security teams who can detect fraud and take the steps needed to protect you, their VIP.
Are there any fees when using Monzo?
No fees are charged to withdraw, transact or make payments in the UK. Monzo offers “Fee-free” spending abroad as no fees are added to the exchange rate. All cash withdrawals up to £250 are free of charge with a 3% fee for withdrawing cash above £250. Abroad, you can withdraw £200 cash (free) every 30 days, after that, a 3% fee will apply.
Do I need to pay tax on winnings withdrawn through Monzo?
No tax is payable on your winnings. Like all other winnings in the UK, all the funds you withdraw through Monzo is tax-free.
What are the alternatives to Monzo?
Monzo is a bank account like any other. Revolut, GooglePay and ApplePay are both good alternatives when choosing a payment method for your favourite online casinos.
Are Monzo transactions instant?
Yes, Monzo transactions are mostly instant. Most Monzo online casinos will advise in advance should there be a processing time to be aware of.
Can I claim casino bonuses using Monzo?
Using Monzo as a payment method gives you the same advantages as using any alternative. All the casino bonuses you would normally be able to claim will be claimable using Monzo.