Moank review

The Flex savings account pays a variable rate of 2.45%. Because the rate is variable, it can change over time rather than being locked. A variable account keeps your balance available, which is the trade against fixing a rate for a term.

No. The monthly fee on the account is SEK 0, so holding the balance costs nothing per month. You only need to cover the amount you choose to save. There is no account maintenance charge to erode what the interest pays.

There is no minimum deposit of SEK 0, so you can open with a small transfer and add money later. This suits people building a buffer gradually rather than committing a lump sum. The balance earns the same 2.45% whatever the size.

Yes. The Flex account has no lock-in, so you can withdraw at any time and the money stays accessible. It is an easy access account, which suits short-term savings and emergency money. Interest keeps accruing while the money sits in the account.

Deposits are covered by EU DGS up to EUR 100,000 EU deposit guarantee. Moank is supervised in Sweden by Finansinspektionen, the Swedish Financial Supervisory Authority, which is where the underlying bank is authorised. The protection sits behind the account, so the balance is covered up to the stated limit.

You must be an adult, registered in Sweden, and have both BankID and a Swedish bank account. That rules out savers living in other European countries. BankID handles the identity check, so the bank account has to sit in the same country.

Support runs on email, phone and help centre, so you can reach the team by email, by phone or through the help centre. Phone suits questions that need a back-and-forth, while the help centre works for anything you can look up yourself.

Moank was founded in 2015 and is run as Moank AB, headquartered in Sweden. It is a Swedish brand built around a single savings product, the Flex account. The regulatory home is Sweden, where the account is supervised.