Is it free to open an account?
Yes. You pay only when you use a service that has a fee, and the fee is shown first. See pricing.
What do I need to sign up?
An email address, a phone number, a password, and later a valid government ID for the one-time identity check.
Why do you check my ID?
To keep impostors and fraudsters out of the network, and because payment services are required to know who their customers are. A specialist partner does the check; it normally takes a few minutes.
What does it cost?
Sending to another Monk Pay wallet: 0.5% of the amount. Adding money: No Monk Pay fee. Withdrawing to a bank or mobile money: No Monk Pay fee. When the currency changes, an exchange-rate margin applies (default 0.01%), shown separately. The calculator shows exact figures.
How are exchange rates set?
We start from the live mid-market rate, apply our margin, and show you both. The review screen lists the mid-market rate, the margin as a percentage, and the rate you get.
How fast do transfers arrive?
Between Monk Pay wallets: instantly. Adding money and cashing out depend on the card network, mobile-money operator or bank, so we show the status instead of promising a time.
Can my recipient cash out?
Yes, to mobile money or a bank account where supported. See where you can send.
I sent money to the wrong person. What now?
Transfers between wallets cannot be undone by us, so check the name on the review screen. If you made a mistake, contact support straight away and we will do what we can, including asking the recipient.
Is Monk Pay a bank?
No. Monk Pay is a payments service. The footer of this site says who operates it.
How is my money protected?
[[TODO: explain how customer funds are held and protected, in words your compliance team has approved. Do not use words like "insured", "guaranteed" or "safeguarded" unless they are literally true for your set-up.]]
How do you protect my account?
Passwords are stored only as one-way hashes, optional two-step sign-in adds a second lock, risky actions re-check your password, and card numbers go straight to Stripe. Read how we protect your money.
I lost my phone. How do I get back into my account?
If you turned on two-step sign-in, contact support. We verify your identity first, then reset the second step so you can set it up again on your new phone.
Are there limits?
Yes. There is a limit per transaction, and the app tells you if an amount is above it. Limits can change as your account history grows.
How do I delete my account?
Move your balance out first, then follow the steps on delete your account.
How do I contact support?
Email info@monkpay.io, or use the contact form. Please never include passwords, PINs or full card numbers.
Still deciding? Run a quote.
You can see the exact price of a transfer in the app before you commit to anything.