Monese alternatives: A list of alternative digital banks
Discover the alternatives to Monese and how they compare to this mobile bank account.
Monese is a mobile bank account which you can open within minutes. You don’t need to provide proof of address, pass a credit check or provide any documents other than a selfie and some photo ID.
Your Monese debit card includes generous allowances for spending and withdrawing money abroad. It doubles up as a budgeting app too, providing spending overviews, savings goals, transaction details and downloadable statements.
You can open a personal or business account if you live in one of the 31 countries in the European Economic Area.
But is it the best mobile-only bank account out there? This guide presents five alternatives to Monese and explains how they compare.
Monzo is a popular online bank account with over 4 million customers.
Once again, all account management is completed through the Monzo app. There are no charges whatsoever for spending overseas. You can withdraw up to £200 at foreign ATMs with no charge too.
Monzo offers an overdraft of up to £3,000 and personal loans of up to £15,000.
The app has plenty of budgeting features too.
Monzo has a premium account with a £5 monthly fee that offers cashback, account aggregation, a credit checking service and other rewards.
The Revolut digital banking app has more than 12 million customers.
With Revolut, you’ll have access to free international money transfers, free global spending and access to a cryptocurrency exchange.
The sign-up process is just as quick and easy as signing up at Monese. The Revolut app has some useful budgeting features too.
The Premium account costs £6.99 a month and comes with overseas medical insurance, plus a bigger fee-free limit for ATM withdrawals (up to £400 per month.)
For all intents and purposes, Starling Bank is very similar to Monese (as well as Monzo and Revolut).
It’s quick and easy to set up, and useful for those spending, sending or withdrawing money abroad.
Starling Bank customers get a euro current account, as well as one for pounds sterling.
It also has a higher fee-free international ATM withdrawal limit (£300 a day).
Nimbl provides pre-paid debit cards to customers for children aged between 6 and 18.
Parents can top-up this card and their child’s account from a mobile app. It’s even possible to automate the transfer of weekly or monthly pocket money. Other family members can transfer money to this card with ease too.
Nimbl is marketed as a great way to teach young children about budgeting. Perhaps more importantly though, it’s a brilliant way for parents to keep an eye on what their children are purchasing.
It’s possible to set up an automated savings feature, so a specific amount of money is transferred into a savings account every time the card is used.
There’s an account fee of £2.49 per month or £28 per year.
Atom Bank is a mobile-only bank, which offers savings accounts and even mortgages.
There is no mobile current account available with this bank at the moment. However, it usually appears near the top of the best-rate tables for six-month, one-year, two-year, three-year and five-year fixed rate savings accounts.
More guides on Finder
Monzo Premium account review
Digital challenger bank Monzo has launched a new Premium tier for its current account. We take a look at the cost and what’s on offer.
1.4 million customers to stop using bank branches due to COVID-19
1.4 million Brits (3%) don’t intend to go back to a bank branch again after the COVID-19 pandemic.
Best 2 year fixed rate bonds in the UK 2020
If you’re planning to save your money into a fixed rate bond, we take a look at how you can find the best 2 year option.
Tide vs Starling business bank accounts
In this guide, you’ll learn the key differences between Tide and Starling business bank accounts and which is most likely to suit you.
Banking statistics 2020
What are the biggest and most famous banks? Which banks are winning and losing customers? How are opinions about banks changing? We have collected all the latest banking statistics here.
Starling Bank makes its mobile app desktop-accessible
Starling Bank has launched a new online banking portal for personal and joint account holders, in response to customer demand for more accessible banking.
Best bank account for teens in the UK 2020
Find out the different types of bank accounts for your teenager and how to choose the right one.
Best current accounts in the UK 2020
Find out what the best bank account is for packaged accounts, basic accounts and cashback accounts.
Best international money transfer services
Learn how to compare international money transfer services so you can get the best exchange rates and lowest fees.
2 in 5 Brits have never switched their main bank account
Almost all of us have at least one bank account, and many of us now have quite a few, but how often do Brits switch their bank accounts and which generation is the most loyal?
Ask an Expert