Monese Vs. Monzo
Monese VS Monzo. Which is better? Both Monese and Monzo are fully regulated and well-trusted international mobile banks, with millions of customers in different countries.
Both offer a modern and highly technological approach to banking via handy smartphone apps and save a lot of time and money for the users. Both Monzo and Monese are headquartered in London and don’t require a proof of address or credit history from the new applicants, letting the new Expats and “Digital Nomads” get a UK current account and a bank sort code.
The unbeatable Monese benefit is their “no proof of address” policy, making almost any European resident able to get a UK bank account and a British sort code without living and banking there before.
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Established |
2015 |
2015 |
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Trustpilot Rating |
Excellent
|
Great
|
|
Available for Registration From |
UK, EU |
UK (USA in a waiting list) |
|
Regulation
|
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FCA (UK) |
 |
|
|
ECB (The Europiean Central Bank) |
 |
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|
Cifas |
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PRA |
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Key Features in a nutshell
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Current & Checking Account (Local & International) |
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UK Only |
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Budgeting & Saving Plans |
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Online & Offline Payments |
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|
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Direct Debits (Free) |
|
UK Only |
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Cash Withdrawals & Deposits (Local & International) |
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Cash Top-Ups |
UK Only |
UK Only |
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Save up for a specific goal via sub-accounts |
|
|
|
No Proof of Address or Credit History Required |
|
|
|
Withdraw and deposit cash for free at retail partners |
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Apple & Google Pay |
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|
|
Safety
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||
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Two-factor payment authentication |
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|
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Information stored in a secure data center |
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Fingerprint login |
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|
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Segregated customer accounts |
|
|
|
Card locking from within the App |
|
|
|
Deposit protection (Loss compensation guarantee) |
100% balance reimbursement |
Up to £85,000 |
|
Fees & charges
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||
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Free account |
|
|
|
Monthly Fee |
Premium plans from €/£4.95/m |
|
|
Exchange Rate |
Low, Interbank rate |
Low, Interbank rate |
|
Direct Debits |
Free |
€/£1 fee |
|
Free payments in any currency |
|
|
|
International transfer fee |
0 – 2%, depending on the pricing plan |
€0.5-3 per transfer |
|
Top-Up Methods
|
||
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Bank transfer |
|
|
|
Debit Card |
|
UK only |
|
Cash |
UK Only |
UK Only |
|
Cheque |
|
UK Only |
|
Sending & Receiving Options
|
||
|
Scheduled & Recurring Payments |
|
|
|
Delivery Speed |
|
|
|
Currencies |
20 |
35 |
|
Mobile App
|
||
|
Languages available |
14 |
|
|
App UX |
5/5 |
4.5/5 |
|
Mobile Adaptive Website |
|
|
|
Spending Visual Statistics (Graphs) |
|
|
|
Score |
9.8 |
8.5 |
|
Overview
|
|
|
Established |
|
|
2015 |
2015 |
|
Trustpilot Rating |
|
|
Excellent
|
Great
|
|
Available for Registration From |
|
|
UK, EU |
UK (USA in a waiting list) |
|
Regulation
|
|
|
FCA (UK) |
|
|
|
|
|
ECB (The Europiean Central Bank) |
|
|
|
|
|
Cifas |
|
|
|
|
|
PRA |
|
|
|
|
|
Key Features in a nutshell
|
|
|
Current & Checking Account (Local & International) |
|
|
|
UK Only |
|
Budgeting & Saving Plans |
|
|
|
|
|
Online & Offline Payments |
|
|
|
|
|
Direct Debits (Free) |
|
|
|
UK Only |
|
Cash Withdrawals & Deposits (Local & International) |
|
|
|
|
|
Cash Top-Ups |
|
|
UK Only |
UK Only |
|
Save up for a specific goal via sub-accounts |
|
|
|
|
|
No Proof of Address or Credit History Required |
|
|
|
|
|
Withdraw and deposit cash for free at retail partners |
|
|
|
|
|
Apple & Google Pay |
|
|
|
|
|
Safety
|
|
|
Two-factor payment authentication |
|
|
|
|
|
Information stored in a secure data center |
|
|
|
|
|
Fingerprint login |
|
|
|
|
|
Segregated customer accounts |
|
|
|
|
|
Card locking from within the App |
|
|
|
|
|
Deposit protection (Loss compensation guarantee) |
|
|
100% balance reimbursement |
Up to £85,000 |
|
Fees & charges
|
|
|
Free account |
|
|
|
|
|
Monthly Fee |
|
|
Premium plans from €/£4.95/m |
|
|
Exchange Rate |
|
|
Low, Interbank rate |
Low, Interbank rate |
|
Direct Debits |
|
|
Free |
€/£1 fee |
|
Free payments in any currency |
|
|
|
|
|
International transfer fee |
|
|
0 – 2%, depending on the pricing plan |
€0.5-3 per transfer |
|
Top-Up Methods
|
|
|
Bank transfer |
|
|
|
|
|
Debit Card |
|
|
|
UK only |
|
Cash |
|
|
UK Only |
UK Only |
|
Cheque |
|
|
|
UK Only |
|
Sending & Receiving Options
|
|
|
Scheduled & Recurring Payments |
|
|
|
|
|
Delivery Speed |
|
|
|
|
|
Currencies |
|
|
20 |
35 |
|
Mobile App
|
|
|
Languages available |
|
|
14 |
|
|
App UX |
|
|
5/5 |
4.5/5 |
|
Mobile Adaptive Website |
|
|
|
|
|
Spending Visual Statistics (Graphs) |
|
|
|
|
|
Score
|
|
|
9.8 |
8.5 |