# Monzo launches personal and business accounts in Spain

28 October 2026 at 17:44

> British neobank Monzo expands to Spain with 4% interest rates and Bizum integration, marking its latest European growth under Francisco Sierra.

British neobank **Monzo** has officially launched its services for individuals and businesses in **Spain** as of 28 October 2026. Led by **Francisco Sierra**, the firm employs 80 staff across Madrid and Barcelona. The expansion follows three years of sustained profit.

Individual accounts offer a 4% interest rate on the first 5,000 euros for 12 months, dropping to 2.5% for higher balances. Features include family accounts, Bizum cancellation within 60 seconds, and business tools for digital invoicing and tax payments.

With 16 million UK customers, Monzo enters a market where **Revolut** has seven million users. Backed by **Google** and Singapore's sovereign wealth fund, the initial Spanish rollout excludes loans and investment services as the bank scales its European presence.


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