Monzo

B tier on Digital Wallet AppsScore 7.1 · #6 of 44

Android app: Yes
Free plan: Yes
Runs on: Android, iOS, Web

monzo.com

Summary

Monzo is a UK bank with current accounts and app tools for spending, saving, borrowing, investing and money management. Its Salary Sorter divides income into Pots for bills, spending and other budgeting needs. Customers can use Savings Pots, ISAs and savings accounts, with rates varying by account and subscription plan. Investment options start from £1, and their value can go down as well as up. Monzo says cardholders can spend abroad without foreign transaction fees and see live exchange rates in the app. It connects other bank accounts and credit cards through FCA-regulated Open Banking, with connections needing renewal every 90 days. Security features include instant transaction notifications, card freezing, biometric login and extra checks for large payments. Monzo says eligible deposits are protected by FSCS up to £120,000 per person. The bank offers 24/7 in-app chat support. Accounts are for UK residents. Plans listed include a free current account and paid options; some listed plan prices are £3, £9 and from £19 per month, with eligibility conditions varying by plan.

Who it is for

Monzo suits UK residents seeking a current account with app tools for budgeting, saving, travel spending or investing. Plan conditions and rates vary by account or subscription.

What is good

Salary Sorter divides income into budgeting Pots
No foreign transaction fees when spending abroad
24/7 support through in-app chat
Card freezing and biometric login are available

What to know first

Open Banking connections need renewal every 90 days
Cash deposits cost £1 per deposit
Accounts are for UK residents

Verdict

Monzo combines current accounts with budgeting, savings, investment and travel-spending tools. Check the plan conditions and account-specific rates before choosing an option.

Monzo plans and pricing

All plans

Monzo Free UK current account · 16+ monzo.com · 29 Sept 2026

Perks Not published £9 a month 18+ · Extra features · Partner perks monzo.com · 29 Sept 2026

Extra Not published £3 a month 18+ · Advanced money tools monzo.com · 29 Sept 2026

Max Not published From £19 a month 18–69 · 3 months minimum · Travel and phone insurance · Breakdown cover monzo.com · 29 Sept 2026

Compared on digital wallet apps

Free plan: Yesmonzo.com
Asset scope: cards_and_fiatmonzo.com
Virtual cards: Yesmonzo.com
Peer transfers: Yesmonzo.com
International transfers: Yesmonzo.com
Supported platforms: iOS, Android, webmonzo.com
Transaction limit: 100 per transactionmonzo.com

Facts

What it does: Monzo is a UK bank offering current accounts and tools for spending, saving, borrowing, investing and managing money in its app.monzo.com · 29 Sept 2026
Budgeting: Salary Sorter divides income into separate Pots for bills, spending and other budgeting needs.monzo.com · 29 Sept 2026
Savings: Customers can use Savings Pots, ISAs and savings accounts, with rates varying by account and subscription plan.monzo.com · 29 Sept 2026
Investments: Monzo offers investment options starting from £1 and says investment values can go down as well as up.monzo.com · 29 Sept 2026
Travel spending: Monzo says cardholders can spend abroad without foreign transaction fees and see live exchange rates in the app.monzo.com · 29 Sept 2026
Account connections: Monzo connects other bank accounts and credit cards using FCA-regulated Open Banking, and asks customers to renew connections every 90 days.monzo.com · 29 Sept 2026
Supported banks: The listed supported providers include American Express, Barclays, Chase, HSBC, Lloyds Bank, NatWest, Revolut, Starling Bank and others.monzo.com · 29 Sept 2026
Security: Monzo says it is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA, with eligible deposits protected by FSCS up to £120,000 per person.monzo.com · 29 Sept 2026
Fraud protections: Security features include Call Status, instant transaction notifications, card freezing, biometric login and extra checks for large payments.monzo.com · 29 Sept 2026
Customer support: Monzo offers 24/7 support through in-app chat.monzo.com · 29 Sept 2026
Cash and cheques: Customers can deposit cash at PayPoint or Post Office for £1 per deposit and pay in cheques through the app.monzo.com · 29 Sept 2026
Notable limits: The plans page says customers can have up to 5 live virtual cards, create up to 9 every 30 days and a maximum of 100 per year.monzo.com · 29 Sept 2026
Who can apply: Monzo states its accounts are for UK residents, and its business account page says eligible applicants are UK sole traders or limited company directors.monzo.com · 29 Sept 2026