Monzo launches accounts in Spain with Bizum integration

Monzo has launched its accounts in Spain, entering its first market in continental Europe. The UK-based neobank offers Spanish IBANs and integration with Bizum, the country’s mobile payments platform.

The launch includes personal, joint and business accounts, as well as accounts for under-18s and instant access savings accounts. Customers can open them free of charge. Each account comes with a Spanish IBAN and connects to Bizum from launch, giving customers access to Spain’s domestic payment infrastructure.

Products for consumers and businesses

Monzo points to customer dissatisfaction with banking fees and unclear terms. According to the company’s own research, 48% of people in Spain believe banks do not act in their best interests. Nearly 60% say they have encountered unexpected banking fees.

Among small and medium-sized businesses, only one in four considered their business account worth the price. By including business accounts in its launch offer, Monzo is targeting both personal customers and SMEs from the outset.

Francisco Sierra, Country Manager at Monzo, described the market entry as an important milestone and said the company has significant ambitions in Spain. He noted that individuals, families and businesses are looking for simpler ways to manage their everyday finances.

Europe at the centre of Monzo’s expansion

Spain is Monzo’s latest EU market and forms part of a broader shift towards Europe. In April 2026, the neobank closed its US operations. At the time, it called the move a “deliberate, strategic decision” and said it would focus on growth in the UK and EU.

The Spanish launch follows the collapse of takeover talks with Brazil-based Nubank. Monzo is seeking new sources of investment to support its international growth while expanding across European markets.

Earlier, in April 2026, Monzo went live in Ireland with free current, savings and business accounts carrying Irish IBANs. Around 100,000 prospective customers had joined the Irish waitlist before the launch. The company described Ireland as the starting point for a phased rollout across the EU.