Monzo vs Plum
Monzo
monzo.com
Plum
withplum.comSide by side
| Figure | Monzo | Plum |
|---|---|---|
| Price from | £3/mo | €3.99/mo |
| Free plan | Yes | Yes |
| Free trial | Yes | Yes |
| Open source | — | — |
| Web | Yes | — |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | Yes | — |
| Plans published | 8 | 4 |
| Spec score · Savings Apps | 9.0 (#1) | 7.9 (#5) |
| Customer support | Monzo says customers can use 24/7 in-app chat, UK and overseas telephone numbers, and email support. | The Spain homepage says support is available seven days a week through the app or by email at [email protected]. |
| Headquarters | Monzo describes its main base as London near Liverpool Street, with an office in Cardiff and staff working globally. | London, United Kingdom |
| Investments | Monzo offers investment options starting from £1 and says investment values can go down as well as up. | The EU plan comparison lists Plum Interest money market funds, US stocks, cryptocurrencies, and ETFs on every plan. |
| 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. | Plum says it does not store or access bank login details, uses read-only transaction access, AES encryption for sensitive data, and 256-bit TLS for browser-server communications. |
Plans
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
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.
Plum
Plum is a personal finance app for saving, investing, and managing spending through automation. It reviews transactions and balances from a supported current bank account in the user's own name, calculates an amount to set aside, and transfers savings by direct debit every 4–5 working days. Listed saving rules include automatic, round-up, weekly, payday, and no-spend options; rainy-day rules start with Pro. Investment options listed across all plans include Plum Interest money market funds, US stocks, cryptocurrencies, and ETFs. Plum is available on iOS and Android in the UK, Ireland, France, Spain, Portugal, Italy, Belgium, the Netherlands, Greece, and Cyprus for users aged 18 or older. Basic is free; Pro costs €3.99 monthly, Boost €7.99 monthly, and Premium €9.99 monthly. A 30-day trial is listed. Only current accounts in the user's own name are supported as primary connections; business, savings, and joint accounts are not. Plum says it uses read-only transaction access and encryption, and that its e-money products are not covered by FSCS.