Best for: Budgeting • Social Banking • User Experience
Monzo is a fully licensed UK bank. Your money is protected by the FSCS up to £85,000.
Monzo isn't just a bank; it's a cult favorite. From the hot coral card to the friendly emoji-filled notifications, it makes banking feel human. But behind the friendly face is serious financial tech.
The "Pots" system is legendary. You can set aside money for rent, bills, or a new car, and even hide them so you aren't tempted to spend. "Direct Debit" pots allow you to pay bills directly from a specific pot, ensuring you never overspend your fun money.
Splitting bills with friends is where Monzo wins. "Shared Tabs" allow groups to track expenses over time—perfect for housemates or holidays. Sending money to other Monzo users is instant and requires just a phone number.
If you want to know exactly where every penny goes, Monzo's analytics and Pots are unbeatable.
Bill splitting and shared tabs make Monzo the best choice for people who share expenses.
The transition from a high-street bank to Monzo is handled perfectly via the Current Account Switch Service.
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