Monabanq's background and growth

Monabanq is a French online bank that operates under the Crédit Mutuel Alliance Fédérale through its subsidiary Cofidis Group. It provides current accounts, savings, credit, and insurance services without requiring a minimum income. Customers can deposit checks and cash at CIC and Crédit Mutuel branches, a feature uncommon for online banks. Established in 1987 as Covefi and becoming a bank in 1992, Monabanq rebranded in 2006 and became known as a "new generation" bank focused on online platforms. As of 2023, it claimed 320,000 clients in France.

Monabanq's fee structure and account requirements

Monabanq does not offer any free accounts. Since October 1, 2026, its Pratiq+ plan costs 3.90 euros per month, Uniq 6 euros, and Uniq+ 12 euros with a Visa Premier card. All three are available without income conditions. The minimum annual cost is 46.80 euros for Pratiq+ and 144 euros for Uniq+. The initial deposit required for any account is 50 euros, and to receive the welcome bonus, customers must deposit 300 euros within the first month after opening an account. The welcome bonus can reach up to 280 euros and is paid in installments up to the 13th month.

Monabanq's joint accounts and overdrafts

Monabanq allows for the opening of joint accounts at the same price as individual accounts, with the same benefits and no income conditions. The second card for a joint account is free for the duration of the account, subject to the offer's conditions. Monabanq can authorize overdrafts, but the bank reserves the right to charge a minimum fee or interest for each overdraft. A fee of 8 euros is charged for each intervention. Monabanq also offers a referral bonus, with the referrer receiving 30 euros per new account opened by a referral for Pratiq+ or Uniq, and 50 euros for Uniq+, up to five referrals within 12 months.

Monabanq's financial products and services

Monabanq provides various financial products, including savings accounts, insurance, and credit options. It offers a "savings card" that automatically transfers the difference to a savings account at the end of the month. The bank provides renewable credit for up to 5,000 euros, auto and home renovation loans up to 30,000 euros, and other project loans up to 30,000 euros. However, it does not offer mortgage loans. Monabanq offers several savings accounts, including the Livret A, Livret de développement durable et solidaire, Livret d’épargne Monabanq, and Livret d’épargne populaire, each with different interest rates and limits.

Monabanq's insurance and payment options

Monabanq provides insurance on the credit card and travel, included in the Uniq and Uniq+ plans. The Uniq+ plan offers the highest level of insurance, including travel assistance and legal aid. Additional insurance options include home insurance, mobile devices, vehicles, and life insurance. Monabanq does not have its own cashback system but offers temporary cashback promotions with partners, such as up to 10% cashback on online bookings via Booking.com. Monabanq does not offer cryptocurrency services or a wallet for cryptocurrencies.

Monabanq's customer service and technology

Monabanq's customer service has been awarded "Best Customer Service of the Year" nine times consecutively, and it has a high rating on Trustpilot. The bank offers customer support through phone, chat, email, and social media, with a hotline available for emergencies like card theft. Monabanq's mobile application is functional and offers features such as automatic expense categorization, a savings simulator, and integration with Google tools for locating nearby branches. The app supports biometric authentication but lacks features such as direct card blocking. Monabanq supports Apple Pay on iPhones and its own Monabanq Pay app on Android, but not Google Wallet.