Monzo just announced it is shutting down its U.S. operations, while continuing to focus on the UK and Europe. Envelope is not here to capitalize on anyone’s struggles. We’re here to offer a stable, transparent, and supportive home for people who need a place to manage their family budget. Due to an overwhelming amount of outreach on our Reddit, Discord, and customer support portals, we put together this FAQ for Monzo users interested in Envelope.
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Download the Envelope app (iOS or Android).

Envelope offers banking services through our partner, Pacific West Bank (PWB).

Envelope isn’t a tiny startup experiment. We’re an established, growing platform with the stability, backing, and scale to support you long term.

Envelope was started by several users who were caught in the Simple banking product shutdown. We know how difficult it is to move your family's financial life, and we are incredibly sorry you are caught in this turmoil. We're here to offer a stable, transparent, and supportive home for anyone who needs it.

Envelopes are simple, flexible pots for your money. Set aside funds for groceries, bills, travel, holidays, or anything else you want to plan for, so every dollar has a clear purpose before you spend it.

Assign transactions to the right envelope so every purchase, transfer, or payment has a clear place in your budget. It keeps your spending organized, makes each envelope more accurate, and helps you quickly see where your money actually went.

The transaction still goes through. "Available" will show negative until you assign it to an envelope. This prevents important bills from getting declined at night. If your total balance is $0, the transaction is declined.

Yes. You'll see it in-app as a "Protected savings" envelope currently yielding 3.07% APY. You can move money in/out instantly, but you can't swipe directly from it—on purpose, to protect savings.

Push funds into Envelope from your Monzo account: often same day if you hit ACH cutoffs. Navigate to your linked bank accounts in the Monzo app and select to "Link Another Bank Account," Select the "Instant" option, Search "Envelope" and proceed with the two factor authentication.

After that, your account should be instantly connected and you can kick off your transfer.

Yes—often up to 2 days early, depending on your employer.

Mobile check deposit is available in-app. Cash withdrawals are free at 55,000+ Allpoint ATMs. Cash deposit is available at Allpoint+ ATMs. Allpoint ATM locator

Yes, there is a $40 annual fee. If you spend $5,000/year on your debit card (physical, online, or Apple/Google Pay) your upcoming membership fee gets waived. ACH transfers and debit card transfers (like transferring funds into Venmo) don't count towards waiving the fee. There is also a $10/month option.

Joint account fee?

If you create a joint account, you split the $40 membership (or $10/month). There is no additional fee to add a joint account user.

No fees at Allpoint ATMs—no reimbursements required.

You'll usually hear back within minutes to hours at [email protected].

Yes—our Discord is active and helpful, with Monzo refugees, Simple veterans, long-time Envelope members, and even employees from our partner bank chiming in. We're also active on r/envelope Reddit.

Envelope was founded by Katelyn and Josh, a married co-founder team. Josh was one of the iOS engineers at Robinhood. Katelyn led marketing for brands like Apple Card, Acorns, and Digit. Both were loyal Simple customers. When Simple shut down, they lost the bank they trusted and didn't see a platform they felt safe parking their money in. They left their fintech jobs in San Francisco to build the product they wanted for their family and yours. They were accepted into Y Combinator (a top startup accelerator) and launched Envelope. After two years live with Pacific West Bank, the partnership has proven exceptional. We're builders, budgeters, and parents—just like you.

Kids' accounts, Web/desktop version and more!

You can track progress anytime on our public roadmap.

Check out our roadmap and try the in-app demo to see all of our features.
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​Download the app. Join the Discord. Reach us anytime at [email protected].

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