Digital bank Monzo launches in Ireland 

Chief executive of Monzo Europe Michael Carney

Digital bank Monzo has said that 100,000 Irish customers signed up on its waitlist ahead of its official launch across the country today.

The UK company’s launch into Ireland marks its first expansion into Europe after securing a full banking licence from the Central Bank of Ireland four months ago.

Chief executive of Monzo’s European operations Michael Carney said “Ireland deserves a better way of banking, and its clear customers are ready for it”.

“The response to our waitlist shows just how strong that demand is. As our first market in Europe, we’re excited to bring a bank that people genuinely love to Ireland, delivering the experience we’ve built serving millions.” 

Irish customers can now apply for an account by downloading the Monzo app. All Monzo accounts are protected up to €100,000 under the Deposit Guarantee Scheme.

Country manager for Ireland for Monzo Elaine Deehan said their research shows “Irish customers want free everyday banking, money that works harder for them, a partner they can trust, and a bank that speaks their language”.

“Monzo combines the best of banking and technology with industry-first features now available to Irish customers. We’re here to truly listen to our community and build the future of banking together”.

Monzo said it will offer free personal and business banking for everyone and it also aims to eliminate the financial burden for small and medium-sized business owners.

The Monzo app will also allow for savings accounts with interest rates of 1.6%.

The company is entering a market dominated by just a few pillar banks as well as entering into direct competition with Revolut which has a strong foothold across Ireland. 

Revolut figures 

After publishing its latest annual results last month, Revolut noted Ireland as one of its “strongest markets” with 3.3m customers as of the end of 2025 - an increase of 10% year-on-year.

Monzo was started in 2015 and boasts 15m users in the UK.