Monzo will change how you feel about banking. Spend, save, and manage your money, all in one place, with the Monzo app.
Monzo is the most popular digital challenger bank in the UK (by customer numbers) and for a good reason. It’s free account is super easy to use, set up, and manage, and the app is colorful and fun (as long as you can live with the loud, judgemental sound it makes every time you spend money!).
The only real drawback is the limit on free ATM withdrawals abroad, which is quite low compared to that of Starling, for example. For most people, this won’t really be an issue, but if you are a bit of a globetrotter and often travel to countries where cash is still king, you might want to consider the alternatives. All in all, Monzo is great if you’re looking for a mobile-first current account with almost no fees, a slick user experience, and a young and fresh vibe. Whether you’re planning on using it as a primary current account for your day-to-day finances or as a secondary account when you travel, it does the job quickly, efficiently, and with a degree of cheerfulness. The app is available on Google Play and iOS Store and is available to UK residents only.
Monzo is a challenger bank that operates without branches, offers a full current account, integrated savings accounts (accounts with other banks but managed from your Monzo app), and personal loans. Monzo customers love the service – it received 5 out of 5 stars in our latest banking customer satisfaction survey. And of course, it comes with the signature hot coral Mastercard that’s been blinding you at bars and supermarkets. It offers three types of accounts; the Standard Monzo account, Monzo Plus, and Monzo Premium.
Your eligible deposits in Monzo are protected by The Financial Services Compensation Scheme (FSCS) up to a value of £85,000 per person.
