These 2 banks offer features like fee-free spending abroad, tools to keep tabs on spending, the ability to view transactions in real time and freeze and unlock your debit card in an instant. But which of these digital banks should you go for? Our in-depth guide compares their features side by side, helping you decide which might suit you best.
Revolut's £20 sign-up bonus for new accounts
Revolut is currently offering a £20 sign-up bonus when you open a new account, making it a strong sign-up incentive compared with any other provider.
Revolut and Monzo don’t have branches, but you can deposit money into your Monzo account at a PayPoint or Post Office branch, for a flat £1 fee (you can pay in up to £750 in one go at Post Office branches, and up to £300 in one go at PayPoints. The maximum monthly limit is £750). Neither of these accounts pay interest on in-credit balances, but you can apply for an overdraft with Monzo, something that is not available with Revolut.
Both Revolut and Monzo have a UK banking licence, which means individual customer funds up to the value of £120,000 are protected by the Financial Services Compensation Scheme (FSCS) if the bank goes bust.
In Finder’s 2026 Banking Customer Satisfaction Awards, 97% of Revolut customers said they would recommend it, while 93% of Monzo customers saying they would recommend one of its accounts.
Finally, Revolut currently runs a number of welcome promotions including a sign-up bonus for new customers where if you open an account, you can receive £20.
Round 1: App features
Visual breakdown of spending
Spending categories
Customisable
17
Set spending budgets
Set up direct debits in the app
Top up via bank transfer
Have salary paid in
Separate savings accounts
Round-ups
Customer service via the app
Customer service via a telephone line
Cheque scanning
Freeze/unfreeze card in app
Send money abroad
Fee for sending money abroad
Free in SEPA region, between 30p and £5 to send elsewhere
When sending through Monzo, a fixed fee of between 50p and £2.68, plus a variable amount between 0% and 1.30%. For currencies Monzo can't support, Wise sets the fee.
Revolut and Monzo both have an extensive set of features in their mobile banking apps. There are spending categories in both apps, where your account transactions are automatically grouped in an appropriate category, such as utility bills, transport or eating out. With Revolut you can create and customise your categories, whereas with Monzo they are pre-set.
You can also analyse your daily, weekly or monthly spending insights in both apps, which helps you set budgets, as well as receive alerts when payments go in and out of your account.
Revolut’s “Pockets” (previously called Vaults) and Monzo’s “Pots” let you put money aside for specific treats or goals, like a new pair of trainers or saving for a new car. Both also offer a “round-up” tool, where spare change from your transactions can be “rounded up” to the nearest pound and put into your savings bucket.
You can pay your salary into either your Revolut or Monzo account, manage direct debits and make international payments. Monzo has been using its money transfer partner Wise for overseas transfers, but as of 17 February 2025, you can make transfers directly through Monzo in certain currencies – these include euros, US dollars, Indian rupees, Australian dollars and Romanian leu.
You can freeze or unfreeze your card in both apps, as well as contact both customer service teams through the in-app chats. You can also get hold of the Monzo team on the telephone, but that’s not the case for Revolut.
If you have a cheque to pay in, you can scan and pay it in via the Monzo app if it’s value is £500 or under. Otherwise you can send it into Monzo by post. Revolut, however, doesn’t accept cheque deposits at all – and you can only deposit cash with a Paysafecash top-up.
Winner: Monzo. The pair’s features are very similar, but Monzo lets you deposit cheques and speak to someone on the phone.
Spending on your Revolut or Monzo card is free in the UK, and both cards currently have the new maximum contactless payment limit of £100.
You can also add your Revolut card or Monzo card to Apple Pay and Google Pay. Monzo also supports Samsung Pay.
Monzo offers free ATM withdrawals up to £400 every 30 days in the UK, then a 3% fee applies. However, you’ll get unlimited fee-free withdrawals in the UK if Monzo is your main bank account. This will be the case if at least £500 or a benefit payment was paid into your account over the last 35 days, or you’ve received a student loan payment in your account in the last 8 months.
With Revolut you can make up to 5 ATM withdrawals or take out £200 for free every month – whichever of those limits you hit first will trigger a charge of 2% on each subsequent withdrawal (with a minimum fee of £1).
Winner: Monzo, simply because it offers higher fee-free withdrawal limits.
Round 3: Using the card abroad
Free foreign transactions
Limited to £1,000 per month
Unlimited
Free foreign ATM withdrawals
Limited to £200 per month
Up to £400 in EEA and £200 elsewhere every 30 days
With Monzo, there’s no charge for using its card to make purchases abroad. If you’re withdrawing money from a foreign ATM, you get a free limit of £400 in the EEA and £200 elsewhere every 30 days, then a 3% charge kicks in. (Be aware the £400 EEA free limit also includes any UK ATM withdrawals you may have made during the 30-day period.) Again, though, if Monzo is your main bank account, you’ll get unlimited fee-free withdrawals in the EEA (the £200 limit still applies outside the EEA).
With Revolut, you need to look a bit closer at the small print! You can use your card to make purchases abroad for free on weekdays, up to a monthly limit of £1,000. You can use your card to withdraw money abroad for free on weekdays, up to a monthly limit of £200. But on the weekends, a mark-up of 1% applies to both card spending and cash withdrawals overseas (Revolut says this is because the international money markets close over the weekend).
Winner: Monzo. It has a less complicated fee structure that includes totally free card spending abroad and a higher free limit for ATM withdrawals in the EEA.
Revolut and Monzo both offer free accounts, and both providers have also branched out into subscription accounts that come with extra features and allowances in exchange for a monthly fee. Revolut’s range includes four paid-for tiers: Plus, Premium, Metal and Ultra. Monzo also has premium accounts.
Monzo offers joint accounts and teen accounts for 16- and 17-year-olds. It recently launched an under-16s account too. Meanwhile, Revolut offers joint accounts and has a kid’s account called Revolut for 6-15s (which is managed through the parent’s account). Both brands operate business accounts.
You can apply for either a Revolut or a Monzo account through their respective mobile apps in a matter of minutes. There are no credit checks, although a photo of your ID and a selfie is required. The accounts are then usually opened on the same day and both the cards are sent through the post. Monzo sends its card for free, while Revolut charges £4.99 for card delivery, which can take up to 9 working days.
Winner: Monzo. Although both accounts are quick and easy to open digitally, Revolut charges almost £5 to have your card delivered, and it could take nearly 2 weeks to arrive in the slowest case scenario.
This is where Revolut really shines through. Account holders have the option to trade shares, purchase gold or silver, and buy cryptocurrencies, all through the Revolut app (fees will apply and your capital is at risk if you decide to invest). Monzo doesn’t offer quite such a range of features – but to be fair, Revolut’s other rivals don’t either.
However, Monzo does offer investments, pensions, insurance, credit cards and loans through its app. Users of either Monzo or Revolut can also opt to open interest-paying savings accounts and these savings accounts can then be managed through either the Revolut or Monzo banking app.
Winner: Revolut, for the unique investment options available in its banking app.
Round 7: Customer reviews
On Trustpilot, Revolut has a score of 4.7 out of 5 from over 413,700 reviews. Monzo has a score of 4.6 out of 5 from more than 69,000 reviews (updated June 2026).
Reviewers said Revolut is easy to use, though some people voiced frustration about accounts or transactions being frozen while they were under review.
Monzo received praise for its ease of use, but there were some complaints about customer service.
Winner: It’s a tie here.
Monzo and Revolut outshine others with a range of extra features included with both digital accounts. The trend for high street banks shutting up shop has helped these app-based accounts, as more people are forced to find digital accounts to replace physical branches, and they have a lot to offer.”
Overall winner: Which is better, Revolut or Monzo?
Monzo. The free accounts from Revolut and Monzo are very similar. Both are managed via an app, both have spending analysis, budgeting features and savings tools, and both accounts can be used to make international transfers.
This makes it difficult to select one over the other, but if we had to choose just one to open, it would probably be Monzo. It has the same main banking and insights features as Revolut, but also the ability to deposit cheques (which you can’t do with Revolut), plus totally free card spending abroad.
However, Revolut does have some unique advantages of its own. It’s currently free to transfer euros to any account in the SEPA (Single European Payments Area) region, and if you’re interested in trading shares or buying cryptocurrencies then you can do it directly from your Revolut app.
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Michelle Stevens is a deputy editor at Finder, specialising in banking, credit, loans and mortgages. She has a journalism degree from the University of Sheffield and has been a journalist for 15 years, writing on topics including fintech, payment systems and retail. In her spare time, Michelle likes to travel, explore new foodie experiences and attempt to improve her own culinary skills.
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