UK personal or eligible small-business app-first banking.
Personal and business bank review / United Kingdom
Monzo review: a live UK bank and a closed US programme.
Monzo Bank Limited directly provides the cited UK personal and business current accounts. Paid plans, savings, credit, investments, insurance and partner benefits retain separate terms. Monzo's former US programme closed every account on 8 June 2026.
Direct answer
Monzo works best when the market is the UK and the account is app-first.
The free personal current account covers the bank-account core. Extra, Perks and Max layer on budgeting tools, savings boosts, partner perks or insurance for monthly fees. Monzo Business separately offers Lite, Pro and Team to eligible UK sole traders and company directors.
The trade-off is scope complexity: cash allowances, replacements, international transfers, overdrafts, savings, Flex, investments, insurance and third-party benefits do not inherit one universal fee or protection rule. US availability is not a caveat—it has ended.
You need branch-led service, a current US account or unsupported business eligibility.
Direct UK bank accounts with a free personal and business entry point.
Plans and add-on products create separate fees, providers and protection boundaries.
Market and account scope
Change the market; keep the legal model exact.
United Kingdom · evidence observed 12 July 2026
Conditional verdict
UK personal account
A strong app-first current account for eligible UK residents who accept limited branch access and product-specific paid-plan, savings and credit terms.
Sources: SRC-MONZO-CURRENT-TERMS · SRC-MONZO-FAQ-ELIGIBILITY · SRC-MONZO-PERSONAL-ACCOUNT · SRC-FSCS-DEPOSIT-PROTECTION- Best for
- UK personal banking with budgeting, Pots, Mastercard spending, transfers and optional paid tools.
- Avoid if
- You need in-branch service, guaranteed cash access, a non-UK account or one price covering every extra product.
- Legal model
- Monzo Bank Limited directly provides the cited UK personal current account.
- Cost boundary
- Free current account available; Extra, Perks and Max cost more, and cash, credit, international transfers and third parties can add fees.
- Protection boundary
- Eligible deposits aggregate at Monzo under the current FSCS GBP 120,000 per-person, per-authorised-firm limit.
- Key condition
- UK residence, age 16 or older, supported device, identity checks and acceptance; other products can require age 18 and further approval.
Legal and regulatory structure
One brand now has a live UK bank and a historical US record.
Do not transfer the entity, protection model, availability or fees from one market or product to another.
Monzo Bank Limited
The PRA-authorised, FCA- and PRA-regulated UK bank, FRN 730427.
UK personal account
A personal current account for eligible UK residents; not for business use.
UK business account
A separate account for eligible sole traders and limited-company directors.
Former Monzo US
A historical Monzo Inc. and Sutton Bank programme; all accounts are now closed.
Open Monzo UK bank and US closure sources
Deposit protection
Eligible UK deposits aggregate under the current FSCS limit.
The current FSCS limit is GBP 120,000 per eligible person, per authorised firm. Eligible current-account and savings deposits at Monzo Bank Limited aggregate; multiple Pots, accounts or plan labels do not multiply the limit.
Monzo's linked current-account terms PDF still prints the former GBP 85,000 limit. The newer December 2025 information sheet and current FSCS record control this review. FSCS deposit protection is not investment-loss, credit, insurance-benefit, app-uptime or fraud protection.
Confirm the balance is an eligible deposit at Monzo Bank Limited.
Combine eligible deposits held with the same authorised firm.
Savings, investments, insurance and credit can use different rules.
FSCS deposit protection addresses eligible firm failure, not ordinary service failure.
Open Monzo and FSCS deposit-protection sources
Eligibility
UK residency is the first gate; each product adds more.
The cited personal account requires UK residence and starts at age 16, subject to device, identity, risk and acceptance checks. Paid plans, Flex, overdrafts, investments and business accounts can require age 18 or add credit, organisation, activity and plan tests.
- The personal account terms prohibit business use.
- Joint accounts require both people to hold eligible personal accounts.
- Business applicants must fit current sole-trader or limited-company scope.
- US applicants cannot open an account because the market has exited.
Fee snapshot
A free account exists; the broader product stack is not universally free.
| Personal Free | GBP 0 monthly |
|---|---|
| Extra | GBP 3 monthly |
| Perks | GBP 7 monthly |
| Max | GBP 17 monthly; three-month minimum |
| Max with Family | GBP 22 monthly |
| Unarranged overdraft | GBP 0; balance remains repayable |
| Excess cash withdrawal | 3% after applicable allowance |
| Business | Lite GBP 0; Pro GBP 9; Team from GBP 25 |
This is a dated entry-point snapshot, not a total-cost promise. Cash deposits, cards, arranged overdrafts, international transfers, credit, partner benefits and third parties can add conditions or charges.
Products and conditions
One app contains bank accounts, plans and non-deposit products.
The current account is the base; savings, credit, investments, insurance and business tools keep their own terms.
Personal current account
Direct UK current account at Monzo Bank Limited with Pots and Mastercard access.
Extra, Perks and Max
Paid feature and benefit layers; they do not create separate banks or universal value.
Savings and ISAs
Separate products with variable rates, access rules and deposit aggregation.
Flex, loans and overdrafts
Eligibility, APR, limit, repayment and credit-file effects remain product-specific.
Investments and pensions
Capital-at-risk products; deposit protection does not insure market performance.
Lite, Pro and Team
Separate current-account plans for eligible UK businesses and team structures.
Personal plans and savings
Monthly price is only the first comparison field.
The cited personal page shows 2.75% AER variable for Instant Access savings and 3.25% for eligible Perks and Max customers. The plan comparison also lists other Select Access and promotional rates. Rates, access, balance and plan qualification can change, so no rate is treated as permanent.
Core account, card and budgeting entry point.
Tools first, then partner perks and a conditional savings boost.
Insurance and breakdown benefits, eligibility and three-month minimum apply.
Cards, cash and rails
Access is broad, but every channel has its own boundary.
A Mastercard mark, payment rail or cash method does not override limits, screening, funds availability or fees.
UK bank transfers
Account number and sort code support cited UK transfers; timing can change for screening.
Mastercard debit
Physical, device and plan-linked virtual cards have distinct access and safety duties.
ATM withdrawals
UK, EEA and overseas allowances vary by main-bank criteria and paid plan; ATM fees can apply.
Cash deposits
Plan allowance, retail channel, amount, monthly count, timing and fees remain conditional.
Cheques and Direct Debits
Postal or eligible in-app cheque flows and outgoing Direct Debits use separate timing rules.
International payments
Currency, fixed and variable fees, provider, cut-off and estimated arrival are shown in-app.
Security, support and testing
Published controls and store ratings are not reliability proof.
Monzo's personal-account page reports App Store 4.9 and Google Play 4.8 as of 27 April 2026. The Google Play listing observed on 12 July instead showed 4.2 from about 178,000 reviews, more than 10 million downloads and a 9 July update. The difference is preserved: neither snapshot is a reliability score.
NeobankDB did not open an account, receive a card, move money, deposit cash or a cheque, use Flex or an overdraft, contact support, dispute a transaction or test recovery. Monzo lists urgent support 24 hours daily and non-urgent phone or chat from 7:00 a.m. to 8:00 p.m. seven days a week. Channel availability does not establish quality.
Review component state
- Legal structure
- Primary sources reviewed
- Core fees
- Dated official schedule reviewed
- Protection
- Current FSCS framework reviewed
- US availability
- Official closure confirmed
- App sentiment
- Conflicting snapshots shown
- Support experience
- Channels sourced; quality not tested
- Overall numerical score
- Not published
Advantages
What the approved evidence supports.
- Direct UK bank status with eligible FSCS-protected deposits.
- Free personal and business entry plans with visible paid upgrades.
- Personal, joint and eligible small-business account paths.
- Cards, Pots, transfers, cash, cheque and budgeting capabilities.
- Visible current terms, pricing, support and US closure evidence.
Limitations
What can make Monzo the wrong fit.
- No live US account; every former US account closed in June 2026.
- App-first service is a poor fit for users who require branch-led support.
- Cash, cards, transfers, overdrafts and third parties can add fees.
- Paid-plan benefits, insurance and savings rates can change or require eligibility.
- No independent reliability, support, dispute or credit-outcome test.
Alternatives
Compare legal models before comparing feature lists.
The nearest alternative depends on the market, branch need, product class and international-payment job.
UK multicurrency account
Compare Wise when international money movement matters more than a UK bank account.
Open the Wise reviewUK bank and fintech set
Use the UK hub to compare Monzo, Revolut and Wise by exact legal model.
Open the UK hubUS app-first account
Compare Varo or Chime because Monzo no longer operates US accounts.
Open the Varo reviewCrypto boundary
No direct Monzo-to-crypto route is approved in this review. A Mastercard, UK account number or third-party exchange interface does not prove Monzo permission, pair-specific success or protection for digital assets.
Source ledger
Every material claim keeps its product, bank and date.
Sources were observed on 12 July 2026 and require launch-time reverification.
SRC-BOE-UK-DIGITAL-BANKS · New banks authorised since 2013
- The list identifies Monzo Bank Limited, FRN 730427, as authorised.
- The list identifies Revolut Bank UK Ltd, FRN 981170, as authorised.
SRC-MONZO-UK-SECURITY · Monzo security
- Monzo identifies Monzo Bank Limited as a UK bank regulated by the PRA and FCA.
- Monzo states that eligible deposits are FSCS protected up to the current scheme limit.
- The page states UK residency as an account requirement.
SRC-FSCS-DEPOSIT-PROTECTION · Check your money is protected
- FSCS protects eligible deposits with UK-authorised banks, building societies and credit unions.
- The current limit is up to GBP 120,000 per eligible person, per authorised firm; scheme and product eligibility still apply.
- The limit increased on 1 December 2025.
SRC-MONZO-CURRENT-TERMS · Monzo Current Account Terms and Conditions version 2.6
- The linked current terms identify a personal UK current account directly at Monzo Bank Limited, require UK residency and prohibit business use of that personal account.
- The terms separate the main balance, Pots, cards, UK and international transfers, Direct Debits, cash, cheques, overdrafts, fees, screening, closures and app requirements.
- The PDF still prints the former GBP 85,000 FSCS limit, so NeobankDB uses the newer December 2025 Monzo FSCS sheet and current FSCS source for the GBP 120,000 limit.
SRC-MONZO-PERSONAL-ACCOUNT · Monzo personal current account
- The current page lists a free UK current account, debit card, Pots, payment tools and separate paid-plan, savings, credit and investment options subject to their own terms.
- It shows 2.75% AER variable for cited Instant Access savings and 3.25% for eligible Perks and Max customers; rates, products and eligibility can change.
- The page reports App Store 4.9 and Google Play 4.8 as of 27 April 2026; those dated marketing snapshots are not reliability evidence or a NeobankDB score.
SRC-MONZO-PLANS · Monzo personal account plans
- The current comparison lists Free at GBP 0, Extra at GBP 3 monthly, Perks at GBP 7 monthly and Max from GBP 17 monthly; Max with Family costs an additional GBP 5 monthly.
- Extra and Perks require age 18 or older; Max lists age 18 to 69 and a three-month minimum term, with product and benefit eligibility applying.
- Savings rates, partner perks, insurance, breakdown cover, virtual cards, connected accounts and other plan benefits retain separate providers, conditions and change risk.
SRC-MONZO-PLAN-FEES · Monzo Extra, Perks and Max fee information version 1.3
- The 16 March 2026 fee record confirms Extra at GBP 3, Perks at GBP 7, Max at GBP 17 and Max with Family at GBP 22 per month.
- The record lists no unarranged-overdraft fee, plan-specific overseas-cash allowances, a 3% excess-withdrawal charge, cash-deposit allowances and replacement-card charges.
- International-transfer, arranged-overdraft, third-party, tax and other service costs can apply outside the headline monthly plan fee.
SRC-MONZO-FEES-ALLOWANCES · Monzo fees and allowances
- UK, EEA and non-EEA cash-withdrawal allowances vary by main-bank criteria and plan, with a 3% fee after the applicable rolling allowance.
- Main-bank, replacement-card, cash-deposit, overseas-card-delivery and other fee criteria are conditional rather than universal fee waivers.
- The exact current app and fee record should be checked before withdrawal, deposit, replacement or international use.
SRC-MONZO-BUSINESS-PLANS · Monzo Business Lite, Pro and Team plans
- The business page lists Lite at no monthly fee, Pro at GBP 9 monthly and Team from GBP 25 monthly, with exact benefits confirmed during signup.
- Only eligible UK sole traders or limited-company directors can apply; account, company, activity, team and product checks remain conditional.
- Business current-account deposits, payment tools, accounting, cards, cash, international payments, credit and third-party services retain product- and plan-specific terms.
SRC-MONZO-SUPPORT · Contacting Monzo support
- Monzo lists in-app chat as the primary channel plus phone and email for defined cases.
- Urgent support is listed as available 24 hours daily, while non-urgent call or chat support is listed from 7:00 AM to 8:00 PM seven days a week.
- Published availability does not prove response time, resolution quality, recovery outcome or independent reliability; NeobankDB did not contact support.
SRC-MONZO-US-CLOSURE · Monzo US account closure support
- Monzo states that all US accounts closed on 8 June 2026; the former US product must not be presented as available or accepting deposits.
- Remaining balances were returned by eligible linked-account transfer or check, and new incoming deposits or transfers are rejected and returned.
- The historical Monzo Inc. and Sutton Bank partner-bank model does not describe the live UK Monzo Bank Limited account or create current US availability.
SRC-MONZO-GOOGLE · Monzo Bank Google Play listing
- The listing showed 4.2 from about 178,000 reviews and more than 10 million downloads, with an update dated 9 July 2026, at observation.
- Its rating differs from the older Google Play snapshot printed on Monzo's product page, demonstrating that store and marketing snapshots can diverge.
- Ratings, reviews, counts, version, data-safety declarations and availability can change and do not establish account reliability or a NeobankDB score.
SRC-MONZO-FAQ-ELIGIBILITY · Monzo frequently asked questions
- The current FAQ identifies Monzo Bank Limited, FRN 730427, as a UK bank and requires UK residence for the cited account.
- The cited personal-account age floor is 16, while paid plans, credit, investments, business and other products can require age 18 or add further conditions.
- Joint-account availability requires both people to hold personal Monzo current accounts and satisfy the cited feature and eligibility conditions.
Deliberately unavailable or unscored
- A universal winner, approval guarantee, permanent APY, limit or fee.
- A permanent savings rate, plan-benefit value, credit approval or lending limit.
- A live US product, future US return date or reopened former account.
- Independent uptime, fraud, dispute, support, credit or recovery outcomes.
- A direct cryptocurrency route or protection for digital assets.
- An affiliate-driven rank, unexplained trust score or numerical review score.
Change history
What this evidence window records.
- Initial Monzo review approved with current UK bank, account, plan, fee, FSCS, business, app, support and US closure evidence.
- Historical US availability added as a verified market-exit record without including it in live US coverage or recommendations.