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Personal Finance · head to head

Money Manager vs Monzo

Money Manager logo

Money Manager

Personal Finance

Personal and household finance tracker

From
Free
Rated
-
Full reviewWebsite
Monzo logo

Monzo

Personal Finance

UK-licensed digital bank with FSCS-protected deposits and no foreign currency card fees

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Money Manager databases created by version 1.4.x are not readable by current releases and produce the error MMEX database version 13 doesn't work with this MMEX version, requiring a manual conversion procedure; Monzo monzo is UK-focused, so customers wanting deep multi-currency holding, broad international transfers or in-app investing will find its feature set narrower than Revolut.
  • They diverge on capability: Money Manager covers Expense tracking, Monzo covers FSCS-protected deposits.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Money Manager and Monzo actually diverge.

Attributes where Money Manager and Monzo differ
AttributeMoney ManagerMonzo
Pricing modelopen-sourceFree core current account; paid Plus and Premium tiers add features
PlatformsWindows, Mac, Linux, IOS, AndroidiOS, Android, Web
Founded2005Unknown

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Personal Finance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Money Manager

  • Expense tracking
  • Budget tracking
  • Reporting
  • Multi-currency support
  • Import/Export
  • CSV
  • Windows support
  • Mac support

Only in Monzo

  • FSCS-protected deposits
  • Fee-free foreign spending
  • Savings Pots
  • Joint and shared accounts
  • Instant spending notifications
  • Overdrafts and loans

What people use each for

The jobs each tool is most often brought in to do.

Money Manager

  • Free desktop personal finance tracking on Windows, macOS and Linuxnot Monzo
  • Running a portable personal accounts file from removable media on Windowsnot Monzo
  • Categorising spending and reporting on personal accounts without a subscriptionnot Monzo

Monzo

  • A UK resident wanting a free current account with statutory FSCS deposit protection rather than e-money safeguardingnot Money Manager
  • A frequent traveller wanting free foreign currency card spending on a UK-regulated accountnot Money Manager
  • A household wanting a joint account with shared budgeting and spending visibilitynot Money Manager
  • Someone building savings using automated Pots with partner-bank interest rather than a separate savings accountnot Money Manager

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Money Manager

  • Databases created by version 1.4.x are not readable by current releases and produce the error MMEX database version 13 doesn't work with this MMEX version, requiring a manual conversion procedure
  • Linux is supported only through Flatpak builds for aarch64 and x86_64
  • The download page states no system requirements, deferring them to a separate compatibility page
  • There is no vendor support contract; the project is distributed as open source with no paid tier

Monzo

  • Monzo is UK-focused, so customers wanting deep multi-currency holding, broad international transfers or in-app investing will find its feature set narrower than Revolut.
  • Overdraft and loan products carry interest charges based on individually assessed rates, and like any consumer credit product the cost varies by risk profile rather than being a flat, predictable fee.
  • Free ATM withdrawals abroad are capped at a monthly limit on the free tier, after which a fee applies, so heavy cash users abroad may find the free tier insufficient.
  • As an app-first bank with very limited physical presence, customers who prefer in-person branch banking or need to deposit cash regularly will find it inconvenient compared with a traditional high street bank.
  • Some paid-tier perks, such as travel insurance bundled into Premium, require reading policy terms carefully, since bundled insurance products can have narrower cover than a standalone policy bought separately.

Pricing, plan by plan

Money Manager

Free
  • Open SourceFree
    • Expense tracking
    • Budget management
    • Reports

Monzo

Free
  • Monzo (free)Free
    • Free current account with FSCS-protected deposits
    • Fee-free foreign currency card spending
    • Free ATM withdrawals abroad up to a monthly limit
  • Monzo Plus$5/month
    • Higher fee-free overseas ATM withdrawal limit
    • Custom card colours and virtual cards
    • Savings and budgeting extras
  • Monzo Premium$15/month
    • Travel and phone insurance included
    • Metal card
    • Airport lounge access on some plans

Which should you pick?

Choose Money Manager if

  • You need expense tracking.
  • You want to start without paying.
  • You work on Windows, Mac, Linux, IOS, Android.
  • You also want budget tracking.
Money Manager review

Choose Monzo if

  • You need fscs-protected deposits.
  • You want to start without paying.
  • You work on iOS, Android, Web.
  • You also want fee-free foreign spending.
Monzo review

Questions people ask

Is Money Manager or Monzo better?
Neither clearly leads. Money Manager starts at Free and Monzo at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Money Manager or Monzo?
Money Manager starts at Free and Monzo at Free.
Does Money Manager or Monzo run on more platforms?
Money Manager runs on Windows, Mac, Linux, IOS, Android. Monzo runs on iOS, Android, Web.
Can I use Money Manager for free?
Both have a free tier, so you can try either at no cost before committing.
What is Money Manager best used for?
Money Manager is most often used for free desktop personal finance tracking on windows, macos and linux, running a portable personal accounts file from removable media on windows, categorising spending and reporting on personal accounts without a subscription. Of those, free desktop personal finance tracking on windows, macos and linux and running a portable personal accounts file from removable media on windows are not what Monzo is typically brought in for.
What can Money Manager do that Monzo cannot?
Money Manager covers Expense tracking, Budget tracking, Reporting, Multi-currency support. Monzo covers FSCS-protected deposits, Fee-free foreign spending, Savings Pots, Joint and shared accounts.

Answered from the vendors’ own pages

Money Manager: How much does MoneyManager Ex cost?

MoneyManager Ex is completely free and open source software with no charges, subscriptions, or hidden fees of any kind.

Source
Monzo: Is Monzo a real bank?

Yes, Monzo Bank Limited holds a full UK banking licence and is regulated by the FCA and PRA, the same framework as traditional UK banks.

Monzo: Are my savings protected if Monzo fails?

Eligible deposits are covered by the Financial Services Compensation Scheme up to 85,000 pounds per eligible person, the same statutory protection as other UK banks.

Monzo: Does Monzo charge for spending abroad?

No card fee applies for purchases abroad at the interbank exchange rate; free ATM withdrawals abroad are capped at a monthly limit before a fee applies.

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