Monese vs Monzo
Monese
monese.comMonzo
monzo.comSide by side
| Figure | Monese | Monzo |
|---|---|---|
| Price from | £2.50/mo | £3/mo |
| Free plan | Yes | Yes |
| Free trial | — | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | — | Yes |
| Plans published | 7 | 8 |
| Spec score · Digital Wallet Apps | 8.1 (#18) | 8.9 (#4) |
| Budgeting | The app includes spending overviews, weekly and monthly budgets, and instant spending notifications. | Salary Sorter divides income into separate Pots for bills, spending and other budgeting needs. |
| Headquarters | London, United Kingdom | Monzo describes its main base as London near Liverpool Street, with an office in Cardiff and staff working globally. |
| Notable limits | The site says Monese has no physical branches and does not handle cash or cheques, though customers can add cash at more than 84,000 payment locations in the UK and Europe. | 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. |
| Security | Security features include biometric login, multi-factor authentication, 3D Secure, single-device access, card locking, and real-time notifications. | 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. |
Plans
Monese
- Pay as you goFree
- Everyday£2.95 a month
- Cashback£7.95 a month
- Premium£14.95 a month
- Everyday£29.95 a year
- Cashback£79.95 a year
- Premium£124.95 a year
Monzo
- Business LiteFree
- FreeFree
- MonzoFree
- Extra£3 a month
- Business Pro£9 a month
- Perks£9 a month
- Max£19 a month
- Business Team£25 a month
In their own words
Monese
Monese offers mobile money accounts for spending, sending and saving through an app. Accounts support payments, transfers, direct debits, standing orders, savings tracking, account details, and physical or virtual cards. The app provides spending overviews, weekly and monthly budgets, instant spending notifications, and up to 10 savings pots with roundups. Customers can add cards to Apple Pay and Google Pay, or link multiple UK bank accounts to view balances and make instant top-ups. Security features include biometric login, multi-factor authentication, 3D Secure, single-device access and card locking. Monese is available on Android, iOS and web. Its Pay as you go account is free and described as basic and intended for occasional use. Everyday costs £2.95 a month and includes two free bank transfers out monthly, with a £1 fee beyond that allowance. Applicants must be at least 18, live in one of 31 EEA countries, and provide an email address, phone number, government ID and in-app video selfie. Monese says UK e-money funds are safeguarded, but its services are not covered by the Financial Services Compensation Scheme. It has no physical branches and does not handle cash or cheques.
Monzo
Monzo is a UK bank offering current accounts and app tools for spending, saving, borrowing, investing, and managing money. 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 can rise or fall in value. For travel, cardholders can spend abroad without foreign transaction fees and see live exchange rates in the app. Monzo connects other bank accounts and credit cards through FCA-regulated Open Banking, and customers must renew those connections every 90 days. Security features include Call Status, 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 app is available on Android, iOS, and web, with 24/7 in-app chat support. Accounts are for UK residents. The free current account is listed for ages 16+; paid plans have varying prices and eligibility conditions.