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Personal Finance · head to head

Monzo vs Starling Bank

Monzo logo

Monzo

Personal Finance

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

From
Free
Rated
-
Full reviewWebsite
Starling Bank logo

Starling Bank

Personal Finance

UK-licensed digital bank with FSCS-protected deposits, built and majority-owned without a US parent

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: 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.; Starling Bank as a UK-only bank, customers wanting broad multi-currency holding, international transfers or in-app investing will need a separate product, since Starling's feature set stays deliberately focused on core banking.
  • They diverge on capability: Monzo covers Fee-free foreign spending, Starling Bank covers Business banking suite.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Monzo and Starling Bank actually diverge.

Attributes where Monzo and Starling Bank differ
AttributeMonzoStarling Bank
Pricing modelFree core current account; paid Plus and Premium tiers add featuresFree personal current account; business accounts have free and paid tiers

Identical on both: starting price (Free), free tier (Yes), platforms (iOS, Android, Web), 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 Monzo

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

Only in Starling Bank

  • Business banking suite
  • Fee-free foreign card spending
  • Savings Spaces
  • Joint accounts
  • Starling mortgages

Both cover

  • FSCS-protected deposits

What people use each for

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

Monzo

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

Starling Bank

  • A UK resident wanting a free, fully licensed current account with FSCS deposit protectionnot Monzo
  • A sole trader or small business wanting a business account with built-in invoicing rather than a separate accounting subscriptionnot Monzo
  • A frequent traveller wanting fee-free card spending abroad on a UK-regulated accountnot Monzo
  • A saver wanting goal-based Spaces sub-accounts without opening a separate savings productnot Monzo

Where each one falls short

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

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.

Starling Bank

  • As a UK-only bank, customers wanting broad multi-currency holding, international transfers or in-app investing will need a separate product, since Starling's feature set stays deliberately focused on core banking.
  • Business account paid tiers add a monthly fee for features that some competitors bundle for free, so cost comparison against other business banking options should account for the tier actually needed, not the free entry point.
  • Like other app-first banks, Starling has very limited physical presence, which is a real limitation for customers needing to deposit cash or prefer in-person service.
  • Mortgage lending is limited to buy-to-let through a subsidiary rather than a full residential mortgage range, so it is not a one-stop option for a typical homebuyer.
  • Interest rates on savings Spaces and any lending products are set individually and can change, so the specific rate should be checked at the time of opening rather than assumed from marketing.

Pricing, plan by plan

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

Starling Bank

Free
  • Personal current accountFree
    • Free current account with FSCS-protected deposits
    • Fee-free foreign currency card spending
    • No monthly account fee
  • Business Toolkit$7/month
    • Integrated invoicing and expense categorisation
    • Multiple sub-accounts (Spaces) for tax and VAT setting-aside
    • Accounting software integrations

Which should you pick?

Choose Monzo if

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

Choose Starling Bank if

  • You need business banking suite.
  • You want to start without paying.
  • You work on iOS, Android, Web.
  • You also want fee-free foreign card spending.
Starling Bank review

Questions people ask

Is Monzo or Starling Bank better?
Neither clearly leads. Monzo starts at Free and Starling Bank at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Monzo or Starling Bank?
Monzo starts at Free and Starling Bank at Free.
Does Monzo or Starling Bank run on more platforms?
Both run on iOS, Android, Web, so platform support will not decide this one for you.
Can I use Monzo for free?
Both have a free tier, so you can try either at no cost before committing.
What is Monzo best used for?
Monzo is most often used for a uk resident wanting a free current account with statutory fscs deposit protection rather than e-money safeguarding, a frequent traveller wanting free foreign currency card spending on a uk-regulated account, a household wanting a joint account with shared budgeting and spending visibility, someone building savings using automated pots with partner-bank interest rather than a separate savings account. Of those, a uk resident wanting a free current account with statutory fscs deposit protection rather than e-money safeguarding and a frequent traveller wanting free foreign currency card spending on a uk-regulated account are not what Starling Bank is typically brought in for.
What can Monzo do that Starling Bank cannot?
Monzo covers Fee-free foreign spending, Savings Pots, Joint and shared accounts, Instant spending notifications. Starling Bank covers Business banking suite, Fee-free foreign card spending, Savings Spaces, Joint accounts. Both handle FSCS-protected deposits.

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.

Starling Bank: Is Starling Bank a real bank?

Yes, Starling 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.

Starling Bank: Are deposits protected if Starling 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.

Starling Bank: Is Starling good for a small business?

It has a well regarded business banking product with integrated invoicing and accounting software links, commonly used by UK sole traders and small companies.

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