Founded in 2015, Monzo is a digital, mobile-only bank based in London, offering both current and business accounts.
It was set up by Tom Blomfield, Jonas Huckestein, Jason Bates, Paul Rippin and Gary Dolman who met whilst working at Starling Bank. It is currently planning on expanding to the US.
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| Customer happiness | 83.26% |
|---|---|
| Customer trust | 77.06% |
| Complaints performance | 68.5% |
| Transparency rating | 62.65% |
| Fairer Finance score Reviewed Spring 2023 |
73% |
| Customer happiness | 47.13% |
|---|---|
| Customer trust | 52.05% |
| Fairer Finance score Reviewed Spring 2023 |
50% |
| Customer happiness | 74.88% |
|---|---|
| Customer trust | 73.15% |
| Complaints performance | 68.5% |
| Transparency rating | 49.71% |
| Fairer Finance score Reviewed Spring 2023 |
67% |
| Annual fee i | £0.00 |
|---|---|
| Maximum cash machine withdrawal per day i | £400.00 |
| Part of FSCS i | |
| Cash withdrawal fee in UK (own bank) i | £0.00 |
| Card payment fee (£) i | £0.00 |
| App capability? i |
| Annual fee i | £60.00 |
|---|---|
| Maximum cash machine withdrawal per day i | £400.00 |
| Part of FSCS i | |
| Cash withdrawal fee in UK (own bank) i | £0.00 |
| Card payment fee (£) i | £0.00 |
| App capability? i |
| Foreign cash withdrawal fee i | 0% |
|---|---|
| Foreign cash withdrawal additional charge i | £0.00 |
| Foreign purchases fee i | 0% |
| Is there a limit on free cash withdrawals? i | Unlimited |
| Foreign cash withdrawal fee i | 0% |
|---|---|
| Foreign cash withdrawal additional charge i | £0.00 |
| Foreign purchases fee i | 0% |
| Is there a limit on free cash withdrawals? i | Unlimited |
| Foreign cash withdrawal fee i | 0% |
|---|---|
| Foreign cash withdrawal additional charge i | £0.00 |
| Foreign purchases fee i | 0% |
| Is there a limit on free cash withdrawals? i | £200.00 |
| Foreign cash withdrawal fee i | 0% |
|---|---|
| Foreign cash withdrawal additional charge i | £0.00 |
| Foreign purchases fee i | 0% |
| Is there a limit on free cash withdrawals? i | £600.00 |
| Foreign cash withdrawal fee i | 0% |
|---|---|
| Foreign cash withdrawal additional charge i | £0.00 |
| Foreign purchases fee i | 0% |
| Is there a limit on free cash withdrawals? i | Unlimited |
| Foreign cash withdrawal fee i | 0% |
|---|---|
| Foreign cash withdrawal additional charge i | £0.00 |
| Foreign purchases fee i | 0% |
| Is there a limit on free cash withdrawals? i | £400.00 |
| Risk based overdraft? i | |
|---|---|
| Arranged overdraft interest free amount i | £0.00 |
| Arranged overdraft interest rate (representative EAR) i | 29% |
| Risk based overdraft? i | |
|---|---|
| Arranged overdraft interest free amount i | £0.00 |
| Arranged overdraft interest rate (representative EAR) i | 29% |
| Risk based overdraft? i | |
|---|---|
| Arranged overdraft interest free amount i | £0.00 |
| Arranged overdraft interest rate (representative EAR) i | 29% |
| Add-ons, cashback and rewards i | Assurant phone insurance, AXA worldwide family travel insurance with winter sports, cashback on international transfers (0.3% on up to £25,000) |
|---|---|
| Part of FSCS or international equivalent i |
| Ski equipment owned cover limit i | £750.00 |
|---|---|
| Single owned item cover limit i | £0.00 |
| Cover limit for hire of ski equipment due to loss/damage/delay to own equipment i | £750.00 |
| Avalanche closure cover limit i | £500.00 |
| Piste closure cover limit i | £500.00 |
| Ski equipment owned excess i | £50.00 |
| Ski equipment hired i | £750.00 |
| Single item limit for hired equipment i | £0.00 |
| Unused ski pass due to illness or injury i | £500.00 |