Monument digital bank review

There's a new digital challenger on the horizon for "mass affluent" customers. Here’s what we know so far about Monument.

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Michelle Stevens

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Monument

Monument is a digital bank in the UK, targeting what it claims are the “neglected mass affluent” customers by offering them client services, savings accounts, wealth-tracking tools and lifestyle experiences.

What is Monument?

Monument is a UK challenger bank that received its UK banking licence in November 2021 and launched its first suite of savings products in 2022.

However, Monument is a bit different to the likes of Monzo, Starling and Revolut. That’s because Monument is the first UK digital-only bank to target the “mass affluent”, which the bank positions as customers with more complex finances and greater savings needs than the average retail banking customer.

The company argues that despite the digital banking boom in the UK, this customer demographic is currently “underserved” and says it’s designed to help professionals, entrepreneurs and ambitious savers grow their wealth. Media coverage has seen the bank dubbed “Monzo for millionaires”.

Is Monument safe?

Monument is a fully regulated bank in the UK. That means your savings are protected – up to £120,000 – by the Financial Services Compensation Scheme, just as they would be at a traditional bank. It also means that you have access to the Financial Ombudsman Service.

How can I apply?

You can apply for the available Monument savings accounts via its app.

Customer service information for Monument

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict

Given that it’s targeting “mass affluent” customers, Monument could be out of reach for many UK banking customers. Savings accounts start from £10,000, but for most you’d need a chunky deposit of £25,000. With the average savings amount in the UK standing at £19,214 in 2026 according to our research, it’s not an option for the majority. But that’s Monument’s appeal. If you are their target customer, then you can benefit from special rates and instant customer support.

In the meantime check out other alternatives in our guide to mobile banking.

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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. See full bio

Michelle's expertise
Michelle has written 69 Finder guides across topics including:
  • Banking
  • Mortgages
  • Credit
  • Fintech
  • Payments
  • Loans
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