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Revolut vs Monzo vs Starling

These are three of the major names in “challenger banking”, offering a range of similar services. Which is the best for you?

Within a few years “challenger banks” like Revolut, Monzo and Starling have made huge waves in the digital banking world. Millions of customers carry their cards and use their accounts daily.

Here we take a detailed look at what these three rivals do best, across three rounds: travel, saving, and general use as a day to day account.

Round 1: Travelling

Updated June 16th, 2019
Name Product Foreign ATM withdrawals Foreign transactions fee Card cost Delivery speed
No ATM fees
No fees
Free with finder.com, otherwise card delivery is £4.99
Up to 9 working days
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
No ATM fees up to £200 a month. 3% charge over £200.
No fees
Free
Between 2-7 working days
Monzo is free to spend anywhere in the world and in any currency, with no fees. All money is exchanged using the MasterCard rate.
No ATM fees up to £300 a day.
No fees
Free
Between 3-5 working days
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)

Compare up to 4 providers

Round 2: Saving

Updated June 16th, 2019
Name Product Fees and charges Interest Savings goals
Free with finder.com, otherwise card delivery is £4.99
No interest
Set budgets in the app
Free
Marketplace with 8 savings accounts both fixed rate and easy access, £500 minimum deposit.
Monzo pots let you put money aside, protected from your daily spending
Free
0.5% AER up to £2,000, 0.25% over £2,000 to £85,000
Create different spending goals and protect money from daily spending

Compare up to 4 providers

Round 3: As a current account

Updated June 16th, 2019
Name Product Direct debits UK ATMs Payments Freeze your card
Revolut currently only supports direct debits with the Euro IBAN account
Free up to £200 a month
Easy UK payments and can transfer money between 23 countries
Yes: touch of a button in app
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
Yes - future payments shown in homefeed
Free, limited to £400 a day
Pay via bank transfer or send instantly to other Monzo account
Yes: touch of a button in app
Monzo is free to spend anywhere in the world and in any currency, with no fees. All money is exchanged using the MasterCard rate.
Yes - future Direct Debits shown as alerts
Free, limited to £300 a day
Pay via bank transfer or using PayPal or Google Nearby
Yes: touch of a button in app
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)

Compare up to 4 providers

Revolut (Premium)

Revolut card: Free delivery worth £5

Enjoy fee-free foreign spending, fee-free international money transfers, send instant payments, purchase cryptocurrency and more!


Starling

Starling Bank: 100% mobile banking

No branches, no fees, no paperwork. Get a smarter kind of bank account with the Best British Bank 2018 – all in under 3 minutes!

Revolut vs Monzo vs Starling: the verdict

Similar apps

There’s not much to separate the apps on offer from these three competitors.

Using smart technology they break your transactions down by category or by shop. These are then fed back to you in weekly or monthly insights, showing you where your spending most.

You have total control of your card through their apps, so if you lose your card you can temporarily freeze it or cancel it through your phone.

It’s super quick and easy to pay friends with any of these banking apps, too.

Split the difference: their different fees

In terms of sending money abroad, Revolut is probably the cheapest option. It offers the interbank rate, while Starling and Monzo offer the MasterCard rate. Moreover, Starling charges a SWIFT fee of about £5.

For those looking to earn a few pennies then Starling and Monzo both offer interest with their current accounts. Starling will give you 0.5% on any amount up to £2,000. Meanwhile Monzo offers 1%. However, you do have to have a least £1,000 in one of its easy access “pots”.

In truth, you can get better rates from traditional banks, but these rates are still better than the 0% offered by Revolut.

App integration

Here, Monzo and Starling seem to be ahead of the game. Although Revolut business account users can integrate with apps too.

Starling’s marketplace offers all the benefits of open banking. Align third party apps such as flux with your account so you get itemised receipts from certain stores.

Monzo and Starling have both paired up with Yolt, so you can see all your accounts in one place. For those looking to get a handle on various accounts, this could be hugely useful.

Digital banking deals

Revolut Revolut
Save £5!

Free card worth £5 from Revolut

Ends

Starling Starling
Award winner

Starling voted best British bank & current account

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New!

Get N26 the new bank you'll love to use

Monese Monese
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Starling CEO Anne Boden explains why Starling Bank is different

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4 Responses

  1. Default Gravatar
    MichaelMarch 21, 2019

    Can I convert GBP to euros and US dollars with a Starling card and hold multiple currencies at the same time?

    • Avatarfinder Customer Care
      nikkiangcoMarch 22, 2019Staff

      Hi Michael,

      Thanks for getting in touch! The Starling bank only holds GBP, but as it says on our page, Charges for spending abroad or withdrawing cash at an ATM aren’t an issue since using your Starling Bank card overseas doesn’t incur extra fees. You will be charged the Mastercard exchange rate for purchases. Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    AndyJanuary 8, 2019

    Can I set up direct debits in France from a UK Stalting or Monzo account? I want to replace my Credit Agricole account. Thanks.

    • Avatarfinder Customer Care
      CharisseJanuary 10, 2019Staff

      Hi Andy,

      Thanks for reaching out to finder.

      Unfortunately, you won’t be able to setup SEPA direct debits with UK Starling and Monzo accounts. Hopefully, these digital banks will look into the possibilities of adding these features in the future.

      I hope this helps.

      Cheers,
      Charisse

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