About Monzo
Monzo helped define modern app banking in the UK. Its current account is free, with brilliant budgeting features (Pots, Trends, spending categories), instant notifications and fee-free card spending overseas. A licensed, FSCS-protected bank with millions of customers, it also offers savings Pots, joint accounts and paid tiers (Plus, Premium) with extras like insurance and interest.
Pros
- Best-in-class budgeting (Pots, Trends)
- Free current account, instant notifications
- Fee-free card spending abroad
- FSCS-protected UK bank
Cons
- Cash deposits cost a small fee (via PayPoint)
- Best features need the app
- Some perks locked behind paid tiers
Best for
Anyone who wants the best app and budgeting tools day to day