A UK digital bank known for its coral-pink card and strong in-app budgeting tools.
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Monzo vs Revolut
Comparing Monzo and Revolut to help you pick the right Online Banking for your needs.
| Feature | Monzo | Revolut |
|---|---|---|
| Pricing | Freemium | Freemium |
| Platforms | Web, iOS, Android | Web, iOS, Android |
| Launched | 2015 | 2015 |
| Starting price | £0 | $0 |
| Community votes | 312 | 367 |
Monzo Pros & Cons
- Fully chartered UK bank with FSCS deposit protection, not just an e-money institution
- Strong automatic spending categorization makes budgeting genuinely easier without manual entry
- Savings Pots let users mentally separate funds for specific goals within the same account
- Distinctive, well-regarded customer experience and app design
- UK-only, with no meaningful availability outside Britain
- Premium tier costs add up if relying on insurance or higher interest features regularly
- Smaller international spending network than some multi-currency-focused competitors
- Customer support is primarily app and chat-based with limited phone access
Revolut Pros & Cons
- Genuinely useful free tier with multi-currency holding and fee-free spending up to a limit
- Strong app-based budgeting and spending insight tools
- Active referral program with real cash bonuses for both parties
- Card supports spending in many currencies without typical foreign transaction fees
- Fee-free spending limits on the free tier reset and can be exceeded by frequent travelers
- Not a full bank account with deposit insurance in every market it operates in
- Customer support has drawn criticism for being primarily app-based with limited human contact
- Premium tier costs add up if relying on higher-tier features regularly
Verdict: Monzo vs Revolut
Monzo and Revolut both serve the Online Banking category well, but suit different priorities. Based on community engagement, Revolut is currently the more widely adopted choice (367 votes), but the better fit ultimately depends on your specific pricing, platform, and feature requirements.
Frequently Asked Questions
- Which is cheaper, Monzo or Revolut?
- Monzo and Revolut use a similar pricing model (both freemium), so the cheaper choice depends on which specific plan tier and feature set you need rather than the base pricing model.
- Is Monzo or Revolut rated higher?
- Monzo and Revolut currently hold comparable editorial ratings, so neither has a clear edge — the right pick depends more on which specific features and pricing fit your use case.
- Which platforms do Monzo and Revolut support?
- Monzo is available on Web, iOS, Android. Revolut is available on Web, iOS, Android. Both tools cover a similar range of platforms.
- Can I switch from Monzo to Revolut (or vice versa)?
- Most online banking tools, including Monzo and Revolut, support data export in standard formats, making migration possible though rarely fully automatic. Expect to manually verify that custom configurations, integrations, and historical data transfer correctly, and budget time for the team to adjust to workflow differences between the two products.
- Should I choose Monzo or Revolut?
- Monzo and Revolut both serve the Online Banking category well, but suit different priorities. Based on community engagement, Revolut is currently the more widely adopted choice (367 votes), but the better fit ultimately depends on your specific pricing, platform, and feature requirements.