MyMonty review

The monthly fee on the MyMonty debit card is €0. That is the same level as the £0 monthly fee at Wise and the £0 monthly fee at Starling, so the cost difference sits elsewhere. No annual or maintenance charge is stated.

MyMonty issues a debit card that runs on the mastercard network. Its listed features are multi-currency, a virtual card and travel, so a physical card and a virtual one sit in the same product. The account comes from Monty Finance SAL.

The account covers 2 currencies, and multi-currency is one of the listed features. That is a narrow spread if you travel widely or receive money in several places, so compare it with a multi-currency account before settling. Card spending abroad is the intended use of the travel feature.

The licences list the Central Bank of Lebanon as the regulator, matching the headquarters country of Monty Finance SAL. No UK regulator is listed for this account, and no deposit protection scheme is stated. UK residents who want a named UK regulator should compare a UK licensed provider.

Support runs on email and phone. There is no live chat or help centre among the listed channels, so a card problem away from home is handled by email or phone. Phone support matters most for a travel card, since that is the use the travel feature points to.

MyMonty fits a household that wants a free debit card for everyday spending and travel, with a virtual card option alongside it. It suits people whose money stays within 2 currencies and who are comfortable with a Lebanese registered provider. It suits you less if you need a UK regulated account.

The MyMonty monthly fee is €0, which matches the £0 monthly fee at Wise, the £0 monthly fee at Starling and the $0 monthly fee at Varo. On monthly cost alone there is nothing to separate them, so choose on currencies, regulation and product type.

It is a debit card, so spending draws on the money in the account rather than borrowing. A secured credit card such as Varo Believe Secured Credit Card works differently, because you put money behind the limit. That distinction matters if you want to build a credit record.