Monesave
App Features
MONC Token
General
Monesave FAQs
Monesave is a fintech app, not a bank. Banks used to be community based but in such an increasingly social age, users are left more and more isolated when it comes to savings and budgeting.
Monesave is changing all that. We are community of users passionate about financial responsibility. With Monesave you can:
- Create Budget and plan
- Compare your Budget with others of similar backgrounds
- Buy Monesave Token and save to earn some Returns (Rewards)
- and do much more together online (publicly or anonymously!)
Join the revolution! Join Monesave today.
You can download the app for free and get onboarding in less than 5 minutes.
We collaborate with top-tier partners in the industry to ensure compliance and facilitate onboarding processes tailored to your specific location. The documentary requirements are set by our Industry partners. For more information on this, please refer to our Terms and Conditions.
It is free to download the Monesave app, Create Budgets, and Compare Budgets with other.
We have premium features and services you can subscribe to and pay for, including Monesave Tokens where you can earn up to over 5% APY Returns (Rewards). Please refer to the app and our fee guidelines here for these.
App Features
- Open the Monesave app on your mobile device.
- Click the “Don’t have an account? Register” link at the bottom of the login screen. This will take you to the registration screen.
- Enter your email address in the “Email” field.
- Create a secure password and enter it in the “Password” field.
- Confirm the password by re-entering it in the “Confirm Password” field.
- Tap the “Signup” button to proceed to the next step.
Additional information needed for sign up:
- Name: Enter your first and last name in the respective fields.
- Date of Birth: Tap on the “Select Date of Birth” field and use the date picker to choose your date of birth.
- Phone number: Enter your phone number in the “numbers only” field, including the country code (+00).
- Address: Type in your full street address in the “Type your address here” field.
- State/City: Enter your city and state/region in the “Type your city or state here” field.
- Post Code/Zip Code: Input your 5-digit zip code or postal code in the “Type your Postcode or 5 digit Zip code” field.
- Country: Tap on the “Select your country…” dropdown and choose your country from the list.
To update your profile simply:
- On the Home page, press on your profile picture, which should direct you to the profile page
- On the Profile page, press on “Edit Profile” under “Contact Information”.
- Edit/Update the necessary information and save.
You have successfully updated/edited a profile.
Creating a budget goes as follows:
- Select a category from the “Budget Category” dropdown menu.
- Enter a description for the budget item in the “Budget Details” field.
- Enter the current amount for the budget item in the “Current amount” field.
- Enter the budgeted amount for the current month in the “Budget this month” field.
- Tap the “Save Budget” button to save the budget item.
After saving your budget, you will see a confirmation screen indicating that you have successfully updated your budget.
Putting Money aside for emergencies is hard for everyone. Some of the reason include:
- Some of us feel our income is insufficient to save, any amount saved feels small and insignificant
- Some term deposit accounts and Banks impose high minimum balance in order to open savings accounts
- It’s hard to plan for the distant future when you’re living “paycheck-to-paycheck”
- Saving some gentle pressure
Monesave helps by rewarding our users and providing an online community and group where we all encourage each other.
Monesave is a fintech app. We do not check your credit, and do not report anything back to credit bureaus.
As a regulated entity, we are need to verify your identity and run KYC & AML. Please refer to our privacy policy and terms and conditions for more information.
To follow or discover other Monesavers:
- On the “Home page” locate and press on “Browse other Monesavers” which will direct you to the “Discover Budget Leaders” page.
- Enter the name of the person you choose to follow or scroll and browse through profiles of the top monesavers.
- Press on desired profile to see more of their information.
- To follow either press the follow button next to their profile name on “Discover Budget Leaders” Page or on their profile page.
you have now successfully followed a fellow Monesaver!
MONC Token
Bitcoin is a decentralized digital currency that operates on a blockchain network—a decentralized ledger recording all Bitcoin transactions. Transactions conducted with Bitcoin are permanently recorded on the blockchain, ensuring immutability. This feature guarantees transparency and prevents tampering. Due to its decentralized nature, Bitcoin enables swift, global, and cost-effective value transfers, along with heightened privacy and security measures.
However, this security comes with a caveat: if Bitcoin is sent to an incorrect address or a different blockchain network (e.g., Ethereum), the funds become irretrievable, as transactions cannot be reversed. So, when transferring assets between wallets, it’s imperative to ensure compatibility with the respective blockchain. For instance, Bitcoin assets can only be sent within the Bitcoin chain, not to addresses on alternative chains like Ethereum or BNB.
For assistance with transactions or any uncertainties, please contact our customer support at support@monesave.com. It’s crucial to understand that any erroneous transactions will result in permanent loss of funds, and the Monesave team will not be able to recoup those losses.
Ethereum (ETH) functions as a blockchain platform utilized for decentralized applications (dapps) and smart contracts. Similar to the Bitcoin network, it operates as a decentralized, public ledger recording all transactions occurring on the network. However, unlike Bitcoin, which primarily serves as a digital currency, Ethereum was specifically designed to facilitate the creation of decentralized applications (dApps) atop its blockchain. Notably, Ethereum has gained significant traction as a platform for decentralized finance (DeFi) applications.
When transferring assets from one wallet to another, it’s crucial to ensure compatibility with the corresponding blockchain. For instance, if you possess an Ethereum wallet, you can only transfer assets within the Ethereum chain, not onto the BNB or Bitcoin networks.
For guidance on processing such transactions, feel free to reach out to our customer support at support@monesave.com, and we’ll provide assistance. It’s essential to understand that any incorrectly executed transactions will lead to complete and irreversible loss of funds, as the Monesave team does not have the ability to reverse them.
The Binance Chain, developed by Binance, is a decentralized blockchain platform renowned for its high transaction speeds and low costs. For Monesavers, this translates to the ability to swiftly and affordably send BUSD (a stablecoin pegged to the USD) and other supported tokens to various wallets worldwide.
However, it’s imperative to exercise caution when transferring assets between wallets. Assets must be sent within the same chain; for example, if you possess a BNB wallet, assets can only be sent within the BNB chain, not to Ethereum or Bitcoin networks.
If you encounter difficulties with these transactions, don’t hesitate to contact our customer support at support@monesave.com for assistance. It’s essential to bear in mind that any erroneously executed transactions will result in irreversible loss of funds, as the Monesave team cannot undo them.
- Download the Monesave app
- Open up Monesave profile
- link your app and your wooden card
- Buy Monesave Token
Start saving and also rewarding your children/friends/family to also save
To top up MONC token simply:
- Go to Home page, and press on the top right icon that says “Add Tokens”.
- Choose from the token amount options .
- Proceed to pay for desired amount.
Now you have successfully topped up your MONC Tokens.
Your money is kept in a fund holding government-backed short-term loans. When those loans are repaid, they come with interest — which gets passed on to you. Because the fund’s assets are issued or guaranteed by the government, they are extremely low risk. These funds are specifically designed to preserve capital and keep your money stable. However, investments, even in a low-risk fund, are never guaranteed.
The fund tracks the interest rate offered by the central bank of the currency. Unlike traditional bank accounts, your return will change soon after any central bank rate changes. We’ll update the value of your money every working day. So there’s no more waiting a month to get what’s yours.
When you switch to Interest, we hold your money in a Public Debt Money Market Fund. This type of fund is trusted by banks and large corporations to keep their money safe and accessible, while giving them a return.
The main risks to the value of the fund going down, is a default of the government or interest rates going to 0% or lower. If the government defaulted, that would be a bad day for everyone but it’s unlikely to happen. This means we have to say your investment is not guaranteed, but the risk is low.
The variable rates we publish always include our fees. We charge a small service fee. It’s 0.5% annually.
You don’t need to put your money to one side to grow it. Spend, send and receive like always with no restrictions or limits. You can withdraw your money at any time but you do need to allow 7 days for any withdrawals and then transfers to your account.
When you hold your money as different Assets, you might have to pay tax on your earnings.
What you’ll need to pay depends on the tax laws in the countries you’re a tax resident in and how much money you’ve made or lost across all of your investments.
Many countries require you to pay capital gains tax. Because the rules are different depending on where you live, it’s worth checking your local tax authority’s website to understand what you need to do.
General
I have encountered a problem or bug on the app. How do I report it?
Most problems can be simply resolved by ensuring that your app is updated to the latest available version. Alternatively, restarting the app may also help resolve the issue.
For further assistance, please contact using the help button on the app or contact us at support@monesave.com
The common saying goes: “When a service is free, you or your data becomes the price.”
Unlike other app who on sell data, Monesave is a provider agnostic platform with no sales quota to a provider or Bank! Rest assured, we do not sell your data. Instead, we safeguard it diligently. All of our data is encrypted and securely stored, ensuring that only you and we have access to it.
Securing your Monesave account is our top priority, as a result we have implemented strong security measures to authenticate and secure the access points to both your account(s) and funds.
2-Factor Authentication (2FA)
The first main security measure that we provide is 2-Factor Authentication. In addition to End to End Encryption of messaging. 2FA enables a second layer of authentication for logging into your account. This means that even if someone stole your login information (through a phishing attack or you not personally using best security practices) they would still need access to another one of your devices in order to authenticate the login. The best thing you can do to protect your login credentials is to implement best security practices overall.
Best Practices
Phishing attacks are one of the most common ways that login credential (for any platform) are stolen. This often happens through an email that is pretending to be a trusted company. The email then prompt you to click a link to a login page. However, the form you are filling out is not to the site you think it is, but a clone of the site you trust – designed to capture your information as you enter it. While there are other sneaky methods that attackers use, this is the most common way.
The best practice is to be careful and aware when logging into any website to ensure it is trusted.
Another best practice is to implement a password management system. Instead of using the same password for multiple sites or using over simplified passwords, a password manager will both generate a unique and complex password, and store the password for you (so you don’t have to rely on memory). Complex and unique passwords help improve security by eliminating any easy-to-guess passwords.
While storing your passwords inside a single management software may seem like you are increasing the risk of having all your passwords compromised, it actually provides the ideal solution for password management.
Without a password manager, most people will write their passwords somewhere far less secure than a software specifically created for that purpose – which has built in safety measures to secure your account.
Customer Service
We are here for you. Our goal is to provide an unparalleled customer experience.
Therefore, we have built a strong and passionate Customer Support Team that is available to answer any questions or concerns regarding security measures. Remember you can always contact us directly on the app and we would never send you an email or text message link to click on.
You can contact our support team 24/7 for more information or any inquires.
As with any Investment, particularly where ETFs, Index Funds and particularly Crypto are involved, there are risks involved with Monesave. When you buy Monesave Token, your tokens are custodied with Banks and we trade with Brokers and Crypto centralised exchanges.
Monesave also faces non-investment risks such as Security, Regulatory and Third-party risks. Currently, Crypto, ETFs and Index funds are not protected under any investor or deposit protection schemes, therefore, please do not invest more than comfortable potentially losing.
You can read more in our Risk Disclosure.
KYC
Step 1: Navigate to the “More” Page
- Open the app and log in to your account.
- On the main screen, locate and tap the “More” icon at the bottom right corner of the screen. This will take you to the “All Services” page.
Step 2: Access Your Profile
- On the “All Services” page, find and tap the “My profile” icon. This will open your profile page.
Step 3: Upload KYC Documents
- On your profile page, locate the “Upload KYC Docs” option under the “Contact Information” section and tap it. This will take you to the “Information” page where you can upload your KYC documents.
Upload KYC Docs Page
- On the “Information” page, follow these steps:
- Upload a Selfie: Tap the circle at the top of the page to upload a picture of yourself. You can take a selfie or choose an existing photo from your gallery.
- Select ID Type: Tap the dropdown menu and choose the type of ID you want to upload (e.g., Passport, Driver’s License).
- Enter SSN: If you are a U.S. customer, enter your Social Security Number (SSN) in the provided field.
- Upload Document Front: Tap the “Select Document Front” area to upload the front side of your ID. You can either take a photo or choose an existing image from your gallery.
- Upload Document Back: Tap the “Select Document Back” area to upload the back side of your ID. You can either take a photo or choose an existing image from your gallery.
After you have uploaded your selfie and both sides of your ID, tap the “Continue” button at the bottom of the screen to submit your documents.
Step 4: Confirmation
- Once you have submitted your documents, you will receive a confirmation message indicating that your KYC documents have been successfully uploaded.
- You may need to wait for a verification process, during which your documents will be reviewed. You will be notified once the verification is complete.
By following these steps, you will have successfully uploaded your KYC documents through the app. If you encounter any issues, you can use the “Chat with support” option on the profile page to get assistance.
KYC (Know Your Customer) is a process used by financial institutions and other regulated companies to verify the identity of their clients. It is important because it helps prevent fraud, money laundering, and other illegal activities by ensuring that customers are who they claim to be.
You can upload various types of identification documents, such as:
- Passport
- Driver’s License
- National ID Card
If you encounter any issues while uploading your documents, you can use the “Chat with support” option on the profile page to get assistance from customer support.
The verification process duration can vary, but you will typically receive a confirmation message once your documents have been successfully uploaded. The review process may take a few hours to a few days, depending on the volume of submissions.
After you submit your KYC documents:
- You will receive a confirmation message indicating that your documents have been uploaded successfully.
- Your documents will be reviewed by the verification team.
- You will be notified once the verification process is complete.
Yes, your personal information is secure. The app uses advanced encryption and security measures to ensure that your data is protected during the KYC process.
Your KYC submission might be rejected for several reasons, such as:
- Blurry or unclear images of your documents.
- Expired identification documents.
- Mismatched information between your profile and the documents provided.
If your submission is rejected, you will receive a notification with the reason and instructions on how to correct the issue and resubmit your documents.
Yes, if your information changes, you can update your KYC documents by following the same steps to upload new documents. Make sure to notify customer support if you need assistance with updating your information.
Monesave Wooden Card
We partner with Local Forestation partners who support over 20 tree-planting projects in 15 different countries; Peru, Brazil, Madagascar, Nicaragua, Haiti, Colombia, Spain, Morocco, Senegal, Burkina Faso, Ghana, Ethiopia, Uganda, Kenya, Tanzania and Indonesia. To achieve our goal, we also work with local partners who are able to monitor your trees on the ground.