Built-in budgeting. Monzo has raised $ 397.56 million in funding over 14 rounds. If you’re looking for a challenger banking brand that can provide you with a main current account and cover as many basic financial needs as possible, you will have to think about what you normally use your mainstream bank account for, and what your priorities are. This is subject to our terms of use. We feel that our app, and the overall Monzo banking experience, has progressed far enough for it to be called Monzo 2.0. N26 has only reached out to existing investors. Monzo. .uk-hero-rates ul { margin-left: auto !important; margin-right: auto !important; width: fit-content; } App Store. No fees for spending or withdrawing cash overseas - currencies are converted at Mastercard’s standard exchange rate, Up to 15% cashback at a range of major retailers, Earn cashback on your purchases when you shop through the ThinkMoney rewards portal, Everything you get from a current account, but with new features for mobile living. 18th February 2019; Bnext aims to be Spain’s Monzo. The two main rivals to Monzo are considered to be Starling and Revolut. No ATM fees with traveller card. Revolut and Monese allow free ATM withdrawals abroad up to £200 a month (there’s a 2% fee after that). You can also take out up to £200 every 30 days for free, or it's a 3% charge on withdrawals after that. The company has attracted 850,000 customers and raised $215 million in total. I don't really know what your objectives are but maybe it could fit ! Making purchases in the UK and abroad is free, but you will be charged to use an ATM if you withdraw more than £200 in a month, in either the UK or overseas. Download the N26 app and open an account in less than 8 minutes. Like Monzo, Starling’s personal current account is free, and you can open and manage it all through a mobile app. One of the big plus-points with Starling is that it’s completely fee-free to use your card in the UK and abroad, for both spending and cash withdrawals. Monzo is also soon launching its Monzo Plus service, a premium paid for account starting at £3 per month that will offer other third-party services such as travel insurance. This guide covers the basics you need to get started. Pay via bank transfer, easier to send to another Monese account. This isn’t banking as you know it. Penny, a new personal finance app, is fixing this by giving users personalized financial advice via a simple chat interface. As the challenger finds fintech partners for its marketplace. We may also receive compensation if you click on certain links posted on our site. Have you ever wondered why being financially responsible can be so difficult? our partners for featured placement of their products or services. may also receive compensation if you click on certain links posted on Atom offers fixed-rate saving accounts that last up to five years and come with competitive interest rates that vary according to the number of years you keep your money in the account (and you cannot withdraw your money until the product term ends). Monzo Premium: Banking that makes a statement Turn heads with our white metal card, made from steel. Monzo is great for use abroad as it doesn't add fees to the exchange rate and you also don't need to notify them in advance. Revolut Plus is the latest current account to be offered by digital banking brand Revolut – we take a look at its features and fees. Decent charts like "How's March going?" I think we used Deutsche Bank, and there were no fee charges. Features Monzo, Ant Financial, WorldFirst, Lloyds and more! Revolut is also the only one out of the three where you get the option to access a share dealing and cryptocurrency buying platform. Monzo Bank Limited is a company registered in England and Wales (No. .hero-rates__rates .hero-rates__header { max-width: 95%; margin-left: auto; margin-right: auto; } Data Protection ICO registration number: Currency exchange fee. Unlike Monzo’s “pots”, where your savings don’t make any interest, First Direct offers a Regular Saver Account with a 5% AER (annual equivalent rate), fixed for 12 months. Tandem's credit card doesn't charge fees on purchases abroad, leaving you with more money for your travels. Here we look at how to go about finding the right account, from comparing different options to saving on fees. Free payments abroad. It offers saving accounts and mortgages instead of regular current accounts – something its competitors haven’t quite started experimenting with yet. Cashplus and Monese are a bit smaller, but should fill that gap in the market. Monzo Bank Ltd (/ ˈ m ɒ n z oʊ /), is an online bank based in the United Kingdom. Should you get a current account, a savings account, or both? N26 does have more customers with 3.5 million, compared to Monzo with 2.7 million, however, given Monzo’s limited availability, we’re saying this one’s a tie. Finder.com Comparison UK Limited (company number: 10482489) is The interface is simple, fluid, user friendly. Goals for saving, spending catgorisation, interest on your balances), Withdrawals of £200/$200/€200 or more – free, No transaction fees (if you spend in one of the 18 wallet currencies), Between 3-5 working days in the UK, or within 10 days if you live outside the UK. 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