A French and EU neobank giving Algerians a EUR account and a virtual Visa card to receive and spend foreign currency, plus a USDC top-up route on Solana.
Known issue: A recurring minority of users report blocked or frozen funds and slow support, though the overall rating stays positive.
Status
| StatusWhether an Algerian can open it and whether it works. Not how many features it has. | Issues |
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Account details
| EUR IBANAn address for receiving euros from within the EEA, in your own name. | Yes |
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| GBP accountAn account number and sort code for receiving British pounds from within the UK. | No |
| USD ACHAccount and routing numbers for receiving dollars sent from inside the United States. The cheap everyday rail — but the sender must be in the US. | No |
| USD wireDetails for receiving dollars sent from outside the United States. Works from almost anywhere, but costs more and takes longer than ACH. | No |
| StablecoinAn address for receiving stablecoins such as USDT or USDC. | Yes |
What it costs
| Compared across banks | |
|---|---|
| OpeningA one-off charge to open the account. | $4.99 Includes the virtual card. |
| MonthlyWhat the account costs every month on the cheapest usable plan. | $2.99 Charged for the IBAN. |
| Foreign spendCharged when the card currency differs from the merchant currency. | $0.30 A flat charge per non-USD card payment, not a percentage — light on a large purchase, heavy on a small one. Paying in USD is free. |
| ATMWhat it costs to withdraw cash at an ATM. | Not supported Taking cash out needs a physical card, and Moneco issues none to Algerians. |
| Virtual cardA one-off charge to issue a card that exists only in the app. | Free Included when you open the account. Activating it needs $10 sitting in your balance, which is not deducted. |
| Physical cardA one-off charge to issue a plastic card posted to you. | Not supported |
| What else Moneco charges | |
| Send EUR (SEPA) | $1 A flat charge on every outgoing SEPA transfer, whatever the amount. Moneco prices it in dollars even though the transfer itself is in euros. |
| Receive EUR (SEPA) | $1 Charged on money arriving as well as on money leaving. Euros received by SEPA are converted to dollars automatically, at a daily rate that differs from the one used when you send. |
| Send USDC (Solana) | 1% Taken as a percentage, so it costs less than the $1 SEPA charge on anything under about $100 and more above it. |
| Receive USDC (Solana) | Free Free to receive, unlike sending. Any network cost charged by Solana itself is separate. |
| Send to another Moneco user | Free Free whatever the amount — but the money stays inside Moneco. |
| Moving money onto the card | 1% Charged every time you load the card, on top of what you already pay to spend with it. |
| Paying in USD | $0 A card payment in the card's own currency costs nothing; a payment in any other currency costs $0.30. |
| Replacing the card | $5 Charged to issue a replacement card. |
| Currency conversion | Moneco publishes no rate Trustpilot complaints mention high, non-transparent conversion rates; no exact percentage is published. |
Card
| TypeWhether the card is virtual, physical, or both. | Virtual |
|---|---|
| NetworkWhich network the card runs on — this decides where it is accepted. |
Opening an account
| Sign-upWhich identity documents you need to open the account. | National ID OK |
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| PayingWhether you can use it to pay with PayPal. | Yes |
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| WithdrawingWhether you can move money from PayPal into it. | No |
Bank account — Moneco's EU IBAN does not qualify, and it offers no US account to Algerian residents — confirmed by its co-founder. Card — The Visa card links for payments; withdrawing onto it is unconfirmed and reports have grown less certain. An Algerian PayPal account can only link a US bank account. PayPal charges a flat $5 for an on-demand card withdrawal, and nothing for a scheduled monthly payout. This applies to every card, not just this one. | |
Moneco in particular
| No USD account | Confirmed with support Moneco support confirmed directly that its partner US banks do not allow it to open ACH accounts for Algerian residents. This is an Algeria-specific limit, not a gap in Moneco generally. |
|---|---|
| What actually works | USD balance, SEPA, USDC For an Algerian resident the usable features are the USD balance (funded via SEPA/EUR or USDC), SEPA transfers, and USDC crypto transfers. |
| Topping up from Algeria | USDC on Solana Some of the frozen-funds reports may stem from user error, such as sending on the wrong network. |