Monzo

Free plan AndroidAPIiPhoneWeb

What Monzo is

Monzo is a UK bank whose app brings together current accounts and tools for spending, saving, borrowing, investing, and managing money. Its Salary Sorter divides income into Pots for bills, everyday spending, and other budgeting needs. Customers can use Savings Pots, ISAs, and savings accounts, although rates vary by account and subscription plan. Investment options start from £1, and Monzo notes that investments can lose value as well as gain it. For travel, cardholders can spend abroad without foreign transaction fees and view live exchange rates in the app. The app can also connect other bank accounts and credit cards through FCA-regulated Open Banking; connections need renewing every 90 days. Security features include transaction notifications, card freezing, biometric login, and extra checks for large payments. Monzo offers 24/7 in-app chat support and says eligible deposits are protected by FSCS up to £120,000 per person. Accounts are for UK residents. The listed options include a free current account, Extra at £3 a month, Perks at £9 a month, and Max from £19 a month, with age and other conditions varying by plan.

Who it suits

Monzo is for UK residents looking for a current account with app-based budgeting, savings, and investment options. It may also suit people who want travel spending tools or to connect other bank accounts through Open Banking.

What it does well

Salary Sorter divides income among separate Pots.
Cardholders can spend abroad without foreign transaction fees.
24/7 support is available through in-app chat.
Eligible deposits are protected up to £120,000 per person.

What to know first

Open Banking connections need renewal every 90 days.
Cash deposits cost £1 each.
Accounts are for UK residents.
Investments can go down as well as up.

Limits

Virtual card limits are up to five live cards, nine created every 30 days and 100 per year. Cash deposits at PayPoint or Post Office cost £1 each; Open Banking connections require renewal every 90 days.

Plans

Plan	Billed and limits	Price
Monzo	UK current account · 16+	Free
Free	UK current account · FSCS protection up to £120,000 · 2.75% AER instant savings · £400/30-day UK/EEA cash withdrawals · £200 outside UK/EEA	Free
Business Lite	Free business account	Free
Max	From £19 a month · Perks features · worldwide travel insurance · phone insurance · UK and Europe breakdown cover · family insurance add-on	£19 a month
Business Team	Starts at £25 a month · Team business account	£25 a month
Extra	£3 a month · Connected banks and cards · virtual cards · advanced roundups · custom categories · auto-spreadsheet · three credit scores · unlimited UK/EEA withdrawals	£3 a month
Business Pro	£9 a month; first month free · Paid business account	£9 a month
Perks	£9 a month · Extra features · 3.25% instant-access savings · 3.65% select-access savings · Railcard · Uber One · Greggs and Vue benefits · three cash deposits monthly	£9 a month

As monzo.com lists them, read 29 Sept 2026. The maker's own page has the final word.

Getting started

Visit the Monzo website.
Choose the free Monzo current account or review the paid plans.
Apply if you are a UK resident and meet the selected plan's age requirements.
Use the app on iOS or Android, or access Monzo on the web.

Verdict

Monzo combines a current account with budgeting, savings, investment, and travel features, and offers around-the-clock in-app support. Check plan eligibility and the 90-day renewal requirement for linked accounts before choosing it.

Questions

Is Monzo free?

A free Monzo current account is listed. Paid options include Extra, billed at £3 a month, Perks at £9 a month and Max from £19 a month.

Which platforms does Monzo support?

Monzo is available on iOS, Android and web.

Who can apply for a Monzo account?

Monzo says its accounts are for UK residents. Its business account page says eligible applicants are UK sole traders or limited company directors.

Can I use Monzo abroad?

Cardholders can spend abroad without foreign transaction fees and see live exchange rates in the app. Monzo also offers international transfers.

Are Monzo deposits protected?

Monzo says it is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA. Eligible deposits are protected by FSCS up to £120,000 per person.

Does Monzo offer a free trial?

A free trial is listed.

Facts from Monzo's own pages

Account connections: Monzo connects other bank accounts and credit cards using FCA-regulated Open Banking, and asks customers to renew connections every 90 days. · monzo.com, 29 Sept 2026
Account eligibility: Opening a personal account requires UK residence, age 16 or older, a compatible phone and valid photo identification. · monzo.com, 19 Oct 2026
Accounting integrations: Business accounts connect with Xero, FreeAgent, Sage and QuickBooks, synchronising balances and transactions; Xero also receives receipts and categories. · monzo.com, 19 Oct 2026
API: The Monzo Developer API is a REST and webhook interface hosted at api.monzo.com. · docs.monzo.com, 19 Oct 2026
API authentication: The API uses OAuth 2.0 authorization codes, access tokens and optional refresh tokens, with approval completed in the Monzo app. · docs.monzo.com, 19 Oct 2026
API restriction: Monzo says its Developer API is unsuitable for public applications and may connect only to the developer's account or a small explicitly permitted user group. · docs.monzo.com, 19 Oct 2026
Budgeting: Salary Sorter divides income into separate Pots for bills, spending and other budgeting needs. · monzo.com, 29 Sept 2026
Cash and cheques: Customers can deposit cash at PayPoint or Post Office for £1 per deposit and pay in cheques through the app. · monzo.com, 29 Sept 2026
Company customers: Monzo says more than 16 million personal and business customers use its services. · monzo.com, 19 Oct 2026
Company founding: Monzo's press page says it was founded in early 2015 and became a regulated bank in August 2016. · monzo.com, 19 Oct 2026
Customer support: Monzo says customers can use 24/7 in-app chat, UK and overseas telephone numbers, and email support. · monzo.com, 19 Oct 2026
Deposit protection: Eligible Monzo deposits are covered by the UK Financial Services Compensation Scheme up to £120,000 per person. · monzo.com, 19 Oct 2026
Fraud protections: Security features include Call Status, instant transaction notifications, card freezing, biometric login and extra checks for large payments. · monzo.com, 29 Sept 2026
Headquarters: Monzo describes its main base as London near Liverpool Street, with an office in Cardiff and staff working globally. · monzo.com, 19 Oct 2026
IFTTT integration: Monzo connects to more than 500 IFTTT services and supports transaction triggers, receipt triggers and moving money into or out of pots. · monzo.com, 19 Oct 2026
Investments: Monzo offers investment options starting from £1 and says investment values can go down as well as up. · monzo.com, 29 Sept 2026
Legal entity: The developer portal identifies the provider as Monzo Bank Limited, company number 09446231, at Broadwalk House, 5 Appold Street, London. · developers.monzo.com, 19 Oct 2026
Limit: Android complaints: Google Play reviews report unexplained account closures, formerly free functions becoming subscription features, slow support and no mobile cheque deposit. · play.google.com, 19 Oct 2026
Limit: branches and fees: Finder notes that Monzo has no branches, charges 3% for some out-of-EEA cash withdrawals above the allowance, offers no current-account interest and may require a paid upgrade for full functionality. · finder.com, 19 Oct 2026
Limit: independent review: Forbes Advisor says many features are paid-only, some cash withdrawals or deposits incur fees, savings rates may be beaten elsewhere and there are no branches. · forbes.com, 19 Oct 2026
Limit: iOS reviews: Apple reviewers mention no mobile cheque deposit, no web or iPad app, missing widgets, delayed refunds and difficulty getting help after account closure. · apps.apple.com, 19 Oct 2026
Limit: verification and support: Trustpilot summaries and reviews mention account-access checks, frozen or blocked payments, difficulty transferring money out and frustrating support contact. · trustpilot.com, 19 Oct 2026
Mobile requirements: The September 2026 support policy requires iOS 18 or later and Android 11 or later, with advance notice before older versions are dropped. · monzo.com, 19 Oct 2026
Notable limits: The plans page says customers can have up to 5 live virtual cards, create up to 9 every 30 days and a maximum of 100 per year. · monzo.com, 29 Sept 2026