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Personal Finance · head to head

MoneyWiz vs Monzo

M

MoneyWiz

Personal Finance

Simple and powerful personal finance app

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: MoneyWiz there is no free tier; every plan requires a subscription; 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: MoneyWiz 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 MoneyWiz and Monzo actually diverge.

Attributes where MoneyWiz and Monzo differ
AttributeMoneyWizMonzo
Pricing modelfreemiumFree core current account; paid Plus and Premium tiers add features
PlatformsWeb, IOS, AndroidiOS, Android, Web
Founded2011Unknown

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 MoneyWiz

  • Expense tracking
  • Budget management
  • Multi-currency support
  • Financial analytics
  • Bank accounts
  • Credit cards
  • Web support
  • IOS 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.

MoneyWiz

  • Tracking personal accounts, budgets and bills across iOS, macOS, Windows and Androidnot Monzo
  • Syncing one finance database across multiple devices through MoneyWiz Cloudnot Monzo
  • Automatically importing transactions through bank syncnot Monzo

Monzo

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

Where each one falls short

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

MoneyWiz

  • There is no free tier; every plan requires a subscription
  • Bank sync with over 40,000 banks is Premium only, at 59.99 USD a year or 5.99 USD a month
  • The Standard plan at 29.99 USD a year provides only cloud sync between devices, with no bank sync
  • Subscriptions cap usage at 15 devices and two MoneyWiz Cloud accounts
  • Priority support is restricted to the Premium 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

MoneyWiz

Free
  • FreeFree
    • Basic expense tracking
    • Multiple accounts
  • Premium$4.99/month
    • Advanced analytics
    • Budget forecasting
    • Custom categories

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 MoneyWiz if

  • You need expense tracking.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want budget management.
MoneyWiz 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 MoneyWiz or Monzo better?
Neither clearly leads. MoneyWiz 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, MoneyWiz or Monzo?
MoneyWiz starts at Free and Monzo at Free.
Does MoneyWiz or Monzo run on more platforms?
MoneyWiz runs on Web, IOS, Android. Monzo runs on iOS, Android, Web.
Can I use MoneyWiz for free?
Both have a free tier, so you can try either at no cost before committing.
What is MoneyWiz best used for?
MoneyWiz is most often used for tracking personal accounts, budgets and bills across ios, macos, windows and android, syncing one finance database across multiple devices through moneywiz cloud, automatically importing transactions through bank sync. Of those, tracking personal accounts, budgets and bills across ios, macos, windows and android and syncing one finance database across multiple devices through moneywiz cloud are not what Monzo is typically brought in for.
What can MoneyWiz do that Monzo cannot?
MoneyWiz covers Expense tracking, Budget management, Multi-currency support, Financial analytics. Monzo covers FSCS-protected deposits, Fee-free foreign spending, Savings Pots, Joint and shared accounts.

Answered from the vendors’ own pages

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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