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
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
Great
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star

Available for Registration From

UK, EU

UK (USA in a waiting list)

Regulation

FCA (UK)

yes icon
yes icon

ECB (The Europiean Central Bank)

no icon
no icon

Cifas

yes icon
no icon

PRA

yes icon
yes icon
Key Features in a nutshell

Current & Checking Account (Local & International)

yes icon

UK Only

Budgeting & Saving Plans

yes icon
yes icon

Online & Offline Payments

yes icon
yes icon

Direct Debits (Free)

yes icon

UK Only

Cash Withdrawals & Deposits (Local & International)

yes icon
yes icon

Cash Top-Ups

UK Only

UK Only

Save up for a specific goal via sub-accounts

yes icon
yes icon

No Proof of Address or Credit History Required

yes icon
yes icon

Withdraw and deposit cash for free at retail partners

no icon
no icon

Apple & Google Pay

yes icon
yes icon
Safety

Two-factor payment authentication

yes icon
yes icon

Information stored in a secure data center

yes icon
yes icon

Fingerprint login

yes icon
yes icon

Segregated customer accounts

yes icon
yes icon

Card locking from within the App

yes icon
yes icon

Deposit protection (Loss compensation guarantee)

100% balance reimbursement

Up to £85,000

Fees & charges

Free account

yes icon
yes icon

Monthly Fee

Premium plans from €/£4.95/m

no icon

Exchange Rate

Low, Interbank rate

Low, Interbank rate

Direct Debits

Free

€/£1 fee

Free payments in any currency

yes icon
yes icon

International transfer fee

0 – 2%, depending on the pricing plan

€0.5-3 per transfer

Top-Up Methods

Bank transfer

yes icon
yes icon

Debit Card

yes icon

UK only

Cash

UK Only

UK Only

Cheque

no icon

UK Only

Sending & Receiving Options

Scheduled & Recurring Payments

yes icon
yes icon

Delivery Speed


0 – 2 business days (local)
3 – 5 business days (International)


0 – 2 business days (local)
3 – 5 business days (International)

Currencies

20

35

Mobile App

Languages available

14

yes icon

App UX

5/5

4.5/5

Mobile Adaptive Website

yes icon
yes icon

Spending Visual Statistics (Graphs)

yes icon
yes icon

Score

9.8
8.5
Overview

Established

2015

2015

Trustpilot Rating

Excellent
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
Great
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star
  • Trustpilot Star

Available for Registration From

UK, EU

UK (USA in a waiting list)

Regulation

FCA (UK)

yes icon
yes icon

ECB (The Europiean Central Bank)

no icon
no icon

Cifas

yes icon
no icon

PRA

yes icon
yes icon
Key Features in a nutshell

Current & Checking Account (Local & International)

yes icon

UK Only

Budgeting & Saving Plans

yes icon
yes icon

Online & Offline Payments

yes icon
yes icon

Direct Debits (Free)

yes icon

UK Only

Cash Withdrawals & Deposits (Local & International)

yes icon
yes icon

Cash Top-Ups

UK Only

UK Only

Save up for a specific goal via sub-accounts

yes icon
yes icon

No Proof of Address or Credit History Required

yes icon
yes icon

Withdraw and deposit cash for free at retail partners

no icon
no icon

Apple & Google Pay

yes icon
yes icon
Safety

Two-factor payment authentication

yes icon
yes icon

Information stored in a secure data center

yes icon
yes icon

Fingerprint login

yes icon
yes icon

Segregated customer accounts

yes icon
yes icon

Card locking from within the App

yes icon
yes icon

Deposit protection (Loss compensation guarantee)

100% balance reimbursement

Up to £85,000

Fees & charges

Free account

yes icon
yes icon

Monthly Fee

Premium plans from €/£4.95/m

no icon

Exchange Rate

Low, Interbank rate

Low, Interbank rate

Direct Debits

Free

€/£1 fee

Free payments in any currency

yes icon
yes icon

International transfer fee

0 – 2%, depending on the pricing plan

€0.5-3 per transfer

Top-Up Methods

Bank transfer

yes icon
yes icon

Debit Card

yes icon

UK only

Cash

UK Only

UK Only

Cheque

no icon

UK Only

Sending & Receiving Options

Scheduled & Recurring Payments

yes icon
yes icon

Delivery Speed


0 – 2 business days (local)
3 – 5 business days (International)


0 – 2 business days (local)
3 – 5 business days (International)

Currencies

20

35

Mobile App

Languages available

14

yes icon

App UX

5/5

4.5/5

Mobile Adaptive Website

yes icon
yes icon

Spending Visual Statistics (Graphs)

yes icon
yes icon
Score
9.8
8.5