How to buy Shares or Stocks with Monzo Bank

How to buy Shares or Stocks with Monzo Bank

Fact Checked
Dec 15, 2022

Summary: The best way to buy Shares, ETFs and other assets with a Monzo Bank account is by registering with a Financial Conduct Authority (FCA) licensed broker and depositing GBP from your account.

We recommend the Uphold platform because they offer Stocks, ETFs, Commodities and cryptocurrencies to trade with industry-leading commissions. They also have fast & cheap GBP deposits from Monzo Bank.

Table of Contents

Platform Highlights

Does Monzo Bank offer Share Trading?

No, Monzo Bank does not directly offer share trading through their platform. This means you cannot log in to your Monzo Personal, or Monzo Business account to buy and sell shares or stocks with their online banking platform.

Monzo currently only offers Savings and Cash accounts that offer fixed interest rates of up to 2.39% per annum. Deposits are also protected for up to £85,000 by the Financial Services Compensation Scheme (FSCS).

Monzo Interest Rates
Monzo Savings Interest Rates.

How to buy Shares with Monzo Bank online

The best way to buy Shares with a Monzo online banking account in the United Kingdom is with Uphold UK.  Uphold is a multi-asset brokerage platform that offers users the ability to trade over 7,000 different Stocks, ETFs, Commodities and other assets for zero fees. Their platform is regulated by the FCA in the UK and CySEC throughout Europe.

You can deposit GBP or EUR to start trading in minutes with this simple 4 step guide:

  1. Sign Up: Create an account on Uphold and complete your verification.
  2. Connect Account: Connect your Monzo Bank account by selecting the fiat currency you want to transfer on your dashboard.
  3. Deposit Funds: You can then select the 'connect bank' button to link any UK Bank account such as Monzo to Uphold.
  4. Buy Shares: Find the shares or stocksyou want to buy and execute your trade.
Deposit Funds and buy shares from Monzo.

Does Monzo plan to offer Stocks in the Future?

At this stage, there are no plans for Monzo to offer share trading or any other asset-based products on their platform. This could change in the future as they continue to develop their online banking proposition but for now, users will need to use a 3rd broker provider like Uphold, Hargreaves Lansdown or another alternative to buy shares with Monzo.

About Monzo Bank

Monzo Bank is a digital, mobile-only bank based in the United Kingdom. It was founded in 2015 by Tom Blomfield, Paul Rippon, Jason Bates, Jonas Huckestein and Michael Berwick. The bank has been described as "one of the most successful British startups of recent years".

Monzo offers a current account which can be managed through a mobile app. The account comes with a Mastercard debit card which can be used to make payments and withdrawals, both online and in person. Monzo also offers a range of other financial products and services, including savings accounts, personal loans and overdrafts.

They have received a number of awards, including "Best British Bank" at the British Bank Awards in 2019 and 2020. The bank has also been ranked as one of the "Top 10 Coolest Brands in the UK" by CoolBrands for three consecutive years (2017-2020). Monzo is a privately owned company with over 5 million customers as of July 2022.

Monzo Bank has received significant investment from a number of high-profile investors, including Passion Capital, Stripe, Y Combinator and Orange Digital Ventures. In February 2019, Monzo raised £85 million in a Series E funding round, valuating the company at £1 billion.

Dylan Matthews

Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.

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