Monzo

Monzo is a UK-based digital bank providing personal and business current accounts. It offers features like budgeting tools, savings pots, investments, loans, and credit cards. Users can also benefit from no foreign transaction fees when spending abroad and 24/7 in-app customer support.

Monzo is a UK-based digital bank that offers current accounts, savings, investments, and credit products. While it facilitates international spending with no foreign transaction fees and uses Mastercard's exchange rate, it does not explicitly state using the 'mid-market exchange rate' for transfers, nor does it offer a 'multi-currency account' in the same vein as Wise, which allows holding balances in multiple currencies. It focuses more on UK banking services with international spending benefits rather than being a dedicated cross-border payment platform. However, it does offer transparent fees for international card usage, a debit card for international spending, fast notifications for transactions, a mobile app, regulatory compliance as a licensed UK bank, and 24/7 customer support.