Is Monzo open banking?
Monzo is a fully licensed UK bank that both uses open banking and supports it. As one of the UK’s leading digital banks, Monzo supports open banking API access for FCA-regulated third parties — meaning you can connect your Monzo account to budgeting apps, lending platforms, and accounting software with your consent. Monzo also uses open banking in its own Marketplace to offer partner financial products directly within the app.
What open banking features does Monzo offer?
Monzo supports the full range of UK open banking capabilities: FCA-authorised AISPs can read your Monzo account data (balance, transactions, direct debits) with your consent; FCA-authorised PISPs can initiate payments from your Monzo account. Monzo’s Marketplace integrates with savings providers, investment platforms, and insurance products using open banking-compatible API connections. Monzo also shows you connections from third-party apps under Connected Accounts in the app.
How do I connect a third-party app to my Monzo account via open banking?
To connect a third-party app to Monzo via open banking, open the app and go to its account linking section — it will redirect you to Monzo’s authentication screen. Log in using your Monzo credentials or app biometrics to grant consent. You can review and revoke all third-party connections at any time in the Monzo app under Account > Privacy > Connected Accounts. Monzo uses the UK Open Banking standard maintained by Open Banking Ltd.
Open Banking in Practice: Monzo received its full banking licence from the FCA and PRA in 2017. It now serves over 9 million UK customers. Monzo’s open banking API is built to the UK Open Banking standard and provides reliable, high-performance access for authorised third parties. The JROC’s 2023 roadmap will expand what Monzo and other digital banks can offer via open banking. Read our guide to Monzo and open banking on openfuture.world.
FAQ
Does Monzo work with accounting software via open banking?
Yes — Monzo connects to accounting platforms such as FreeAgent, Xero, and QuickBooks via open banking APIs for automatic transaction import.
Can HMRC access my Monzo data through open banking?
No — open banking requires your consent; HMRC has separate legal powers to request information from Monzo directly without open banking.
Is Monzo a good bank for open banking features?
Yes — Monzo is widely regarded as one of the most open banking-friendly UK banks, with strong API performance and a well-designed consent management interface.