Monzo
digital bank
Last verified 2024-09-01
Monzo is one of the UK's most popular digital banks, offering a GBP current account with strong budgeting tools, real-time spending notifications, fee-free overseas spending at Mastercard rates, and a distinctive coral debit card. Accounts are FCA-regulated and FSCS-protected up to GBP 85,000. Requires a UK residential address and phone number — non-residents cannot open accounts. Monzo Plus and Monzo Premium tiers add features such as cash ISAs, credit builder tools, and travel insurance. Business accounts are available for UK sole traders and limited companies. Widely regarded as one of the best everyday accounts for UK residents.
Details
- Headquarters
- United Kingdom
- Currencies
- 1
- Monthly Fee
- Free
- Non-Residents
- Not accepted
- US Persons
- Not accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •UK residential address
- •UK phone number
- •Government-issued photo ID
- •Age 18+