Summary
Monzo is a UK-based digital bank providing personal and business current accounts. It offers features like spending insights, savings pots, fee-free international card payments, and integrates with Wise for international money transfers. Monzo focuses on mobile-first banking with 24/7 in-app customer support.
Features9/12
See allMust Have
3 of 5
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Commission-Free Stock Trading
Instant P2P Transfers
Bitcoin Trading
Other
6 of 7
Fraud Monitoring & Security
High-Yield Savings
Round-Up Savings
Pay Over Time (Afterpay)
Instant Discounts & Offers
ATM Access & Fee Reimbursement
Customizable Card Designs
PricingFreemium
See allExtra
- Connected banks and credit cards
- Virtual cards
- Advanced roundups
- Custom categories
- Auto-spreadsheet
- Credit insights - 3 scores (TransUnion, Experian, Equifax)
Perks
- 3.75% AER (variable) interest, paid monthly
- Fee-free withdrawals up to £600
- 3 fee-free cash deposits
- Discounted investment fees
- Annual Railcard
- Weekly Greggs treat
- Monthly cinema ticket at Vue
Max
- Personal worldwide travel insurance – provided by Zurich, powered by Qover
- Personal worldwide phone insurance – provided by Assurant
- Personal UK & Europe breakdown cover - provided by RAC
- Add your family to your insurance and cover for an extra £5 a month
- 3 months minimum
- Aged 18-69
Business Lite
- Business bank account
Business Pro
- Tax Pots
Business Team
- Time saving expense cards
Rationale
Monzo is a digital bank offering a range of financial services. It provides a debit card, early access to direct deposits, and investment options similar to stock trading. While it doesn't explicitly mention P2P transfers in the same way as Cash App, it does offer bill splitting and easy payments between friends. It also highlights fraud monitoring, interest-bearing savings, round-up savings, and a 'Flex' credit card that allows for 'pay over time' functionality. ATM access and fee reimbursement are also mentioned. Bitcoin trading is not explicitly offered.
