Side by side
Monzo vs Plum
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 AndroidiPhone
Plum combines automated savings with spending tools and investment options across its plans. Check supported account types and country availability, and note that its e-money products are not FSCS covered.
Visit PlumThe facts
| Monzo | Plum | |
|---|---|---|
| Free plan | Yes | Yes |
| Open source | Not published | Not published |
| Runs on | Android, API, iPhone, Web | Android, iPhone |
| Lowest paid plan | Extra: £3 a month | Pro: €3.99 a month |
| Plans published | 8 | 4 |
| Maker | Not published | Not published |
| Website | monzo.com | withplum.com |
| On savings apps | #1 of 13 | #4 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.
Plum: what it does well
- Automates transfers every 4–5 working days
- Offers several savings rules
- Lists funds, stocks, cryptocurrencies, and ETFs
- Available on Android and iOS
- Basic plan is free
What to know first
- Business, savings, and joint accounts are unsupported as primary accounts
- Available only in listed countries to users aged 18 or older
- E-money products are not FSCS covered
- Pro costs €3.99 a month