Side by side
Monzo vs PiggyVest
Both stand on savings apps. Which one you can start free with, which one lets you read the code, and what each costs once you pay.
Free plan AndroidAPIiPhone+1
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.
Visit Monzo
Free plan AndroidiPhoneWeb
PiggyVest combines several savings approaches with investment opportunities in a free service. Check the funding restriction and possible fees or withdrawal penalties for the products you plan to use.
Visit PiggyVestThe facts
| Monzo | PiggyVest | |
|---|---|---|
| Free plan | Yes | Yes |
| Open source | Not published | Not published |
| Runs on | Android, API, iPhone, Web | Android, iPhone, Web |
| Lowest paid plan | Extra: £3 a month | Free or on request |
| Plans published | 8 | 1 |
| Maker | Not published | Not published |
| Website | monzo.com | piggyvest.com |
| On savings apps | #1 of 13 | #3 of 13 |
Monzo: 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.
PiggyVest: what it does well
- Supports daily, weekly, or monthly automatic savings
- SafeLock terms range from 10 to 1,000 days
- Target Savings supports group challenges
- Available on Android, iOS, and web
What to know first
- Investify requires funding from a Flex Naira wallet
- Some investments carry a 1% processing fee
- Early withdrawals may incur penalties
Alternatives to Monzo Alternatives to PiggyVest The whole list