Monzo

The UK salary account to beat. Pair it with Wise or Revolut if you invoice in euros or dollars. Do not open Monzo expecting a travel-card replacement on the free plan.

Monzo is a PRA-authorised UK bank. It grew from a prepaid alpha card (Mondo) into a full current account with overdrafts, loans, and a US subsidiary. The hot-coral debit card is the most recognised fintech object in Britain. FSCS applies to eligible deposits at Monzo Bank Ltd.

Monzo lists UK bank under PRA / FCA in United Kingdom. On safeguarding we currently write: FSCS up to £85,000. Holder / issuer line: Monzo Bank Ltd. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 2 live markets on the product. As we score the sticker: monthly Free · Plus/Premium/Max paid; FX Fee-free FX up to plan caps, then a markup; ATM Fee-free abroad up to plan caps; interest Instant Access savings pots. This desk would open it for: UK residents who want FSCS protection and the best everyday app.

What it does well: Full UK bank, FSCS on eligible deposits; Pots and salary sorting still class-leading; In-app support that actually answers. What to watch: Not a multi-currency specialist; US product is a different, thinner bank; Paid plans needed for serious travel. Desk score 8.1 / 10 (safety 9.0, fees 8.2, features 8.0, app 9.4). Last verified 2026-08-01. Headquartered in London, United Kingdom; founded 2015. None of this is advice — it is a file so you can read the entity before the card colour.