bunq vs Monese

Digital banking is increasing in popularity thanks to a range of easy to use smartphone apps and services that give you a bank in the palm of your hand, with no need to ever step foot into a physical branch. bunq and Monese will cover your basic money needs, as well as including some extra features, such as ethical investing (bunq) or no-cost foreign spending (Monese). Both companies feature quick and easy management of funds through simple to use smartphone apps or online portals, which also cuts down on fees since you don’t have to deal with a branch. Compare the expansive range of features below.

Quick review: bunq and Monese

bunq vs Monese in Germany

Feature	bunq	Monese
Monthly fees	bunq Business:€9.99 bunq Premium: €7.99 bunq Business SuperGreen: €19.99 bunq Premium SuperGreen: €16.99 bunq Travel:€0	Simple: free Classic: €5.95/month Premium: €14.95/month
Joint account available?	Yes. Bunq+1 can be added on to any bunq plan for a monthly fee of €2,99	Yes. Free with an existing account. Joint card delivery fee is €4.95
ATM withdrawals	For all bunq accounts, excluding bunq Travel: 10 withdrawals per month, after which a €0.99 fee applies bunq Travel: €0.99 per ATM withdrawal	Monese Simple: €200 per month after which a 2% fee applies Monese Classic: €900 per month Monese Premium: Unlimited
Card options	Each account is entitled to three cards, any combination of Mastercard Debit, Maestro and Travel. Travel Cards are available with every bunq account. Travel Card and Green Card can be purchased separately and used with a bank account from any other provider.	Debit card with a one-off delivery fee of €4.95. Available in both Euro and GBP.
Global spending	€0.99 per overseas withdrawal. Foreign withdrawals or transactions are charged at the Mastercard exchange rate. No fee for using the card to make purchases. Send and receive money overseas using Transferwise.	Dual-currency accounts available as standard for Euros and GBP Fee-free spending of foreign currencies up to a limit. Send money to 30 countries in 18 different currencies.
Languages	App displayed in the same language as phone settings. Customers support available 365 days a year in English and other languages when applicable.	App available in 14 languages: English, French, German, Brazilian Portuguese, European Portuguese, Bulgarian, Italian, Spanish, Romanian, Polish, Czech, Turkish, Estonian and Lithuanian. Multilingual customer support.
Insights & money management	Each account comes with 25 separate IBAN bank account numbers which enable highly specific management of funds. Three cards are included with a single account allowing for greater control overspending. The bunq app works natively with several third-party accounting apps. Split bills with friends using the Slice Groups feature.	Monese provides several ways to analyse your spending, outgoings and savings each month through its Spending Overview. Roundup card transactions to the nearest Euro or GBP for easy saving. Set monthly budgets.
Security	Lock and unlock your card from within the app.	Freeze your card instantly via the app Passcode and local app access required to access funds at all times
Interest earning accounts	0.27% as standard on all accounts.	No.
Card delivery	Up to working 10 days	Up to 3 working days
Banking license	Licensed in the Netherlands by the Dutch Central Bank (DNB).	No – instead deposits are held with partner banks in segregated accounts.
Extra features	bunq offers the unique Green Card which promises to plant trees in return for spending done using the card. This card is available to anyone with an existing bank (not just bunq account owners), however, it costs €99 per year. bunq advertises that it invests customer funds ethically. Each account comes with 25 unique bank account numbers (IBANs)	Can open both a UK and European account and switch instantly. No proof of residence or credit check required for sign-up. Business account available
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bunq or Monese?

Overall both apps are similar with their offerings – the digital bank experience straight from your smartphone, competitive rates on overseas spending and a modest variety of account options including business and shared.

However, bunq stands out as the premier option for users who want deeply nuanced control over their funds, as well as on the record-keeping & accounting side of things too. Each account offers 25 unique bank account and IBAN numbers, which can be increased to 50 for a fee. Couple this with software that is constantly tracking your incomings and outgoings, a modest ecosystem of interoperable apps, and you’ve got quite a powerful banking experience in the palm of your hand. Unfortunately, though, bunq doesn’t offer a free option, and you will need proof of residence to sign up – something that Monese users don’t need to worry about.

This leaves Monese as an excellent option for customers with more casual needs, especially considering that it offers a free account which includes a debit card. New users only need a mobile phone number and ID to sign up, which makes it an excellent choice for travellers or expats, as well as young people looking to open their first account. Monese also offers accounts in both Euros and GBP, which makes it a strong option for anyone that does a lot of cross-border travel or business.

Compare a range of digital banks in Germany

• Free cards
• Premium cards
• Travel cards
• Non-bank alternatives

• *Disclaimer

  *The products compared here are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order for the products we list on our site, so we enable you to re-order and compare products. The initial display order is influenced by a range of factors including commercial partnerships, product costs and conversion rates, so please don’t interpret the listing order as an endorsement or recommendation from us. We’re happy to provide you with the tools you need to make better decisions, and we encourage you to make your own decisions and compare and assess products based on your individual needs, preferences and circumstances.

Frequently asked questions (FAQs)

• How do I close an account with bunq or Monese?

  bunq: You can close your account inside of the app by going to Profile > My Membership > Close account and follow the steps. For instance, all funds must be removed from the account so that the remaining balance is €0. If your balance is negative, then you will need to top it up to return it to €0. You will also need to remove all scheduled payments.

  Monese: You may close your Monese account by contacting customer support through the in-app chat. You can also write to closures@monese.com from the same email that is registered to your account. Instead of closing your account outright, you may want to consider downgrading to the Simple account which is free.

• Where is bunq and Monese available?

  In addition to Ireland, each is available in the following countries.

  bunq: All European Union (EU) countries and members of the European Economic Area (EEA).

  Monese: All members of the European Economic Area (EEA). Romanians require additional documents to sign-up.

• Do I need a phone to use bunq and Monese?

  Yes, both digital banks require a smartphone for use. While some offer an online portal accessible through a desktop computer browser (eg, Safari or Chrome) you will still need the app.