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.
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 |
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 |