A multi-currency digital banking app with a free tier and global card spending features.
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Revolut vs Monzo
Comparing Revolut and Monzo to help you pick the right Online Banking for your needs.
| Feature | Revolut | Monzo |
|---|---|---|
| Pricing | Freemium | Freemium |
| Platforms | Web, iOS, Android | Web, iOS, Android |
| Launched | 2015 | 2015 |
| Starting price | $0 | £0 |
| Community votes | 367 | 312 |
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
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
Verdict: Revolut vs Monzo
Revolut and Monzo 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, Revolut or Monzo?
- Revolut and Monzo 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 Revolut or Monzo rated higher?
- Revolut and Monzo 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 Revolut and Monzo support?
- Revolut is available on Web, iOS, Android. Monzo is available on Web, iOS, Android. Both tools cover a similar range of platforms.
- Can I switch from Revolut to Monzo (or vice versa)?
- Most online banking tools, including Revolut and Monzo, 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 Revolut or Monzo?
- Revolut and Monzo 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.