Revolut vs Monzo
Revolut wins for travel + crypto. Monzo wins for UK banking and category insights.
| Revolut | Monzo | |
|---|---|---|
| Monthly fee | $0 | $0 |
| Card issue fee | $0 | $6 |
| FX model | weekend markup | card network |
| FX markup | 50 bps | — |
| Free ATM / month | unlimited | 0 |
| Multi-currency | ||
| Apple Pay | ||
| Google Pay | ||
| Virtual cards | ||
| Crypto | ||
| Joint account | ||
| Availability | EU, UK, US, AU, JP, SG, NZ + selected | UK + US (limited beta) |
Revolut, best for
- Daily spending on the card during the week
- Stock and crypto trading inside the app
- Splitting bills and group expenses
Weak for
- Weekend FX (1% surcharge applies)
- Large transfers (use Wise instead)
Monzo, best for
- UK residents with daily spending
- Travellers wanting clean spend categorisation
Weak for
- Multi-currency holding
- Large transfers abroad
The verdict, in plain words
Revolut wins for international spending and investing, Monzo for UK-based simplicity and clear budgeting.
Consider an EU freelancer paid in USD. They'll want Revolut's slick currency exchange for moving money into Euros, plus its built-in stock and crypto trading. The free ATM withdrawals abroad, up to £400 per month†, also make it a no-brainer for any significant travel. Conversely, a US founder running a remote team with UK employees will find Monzo's clean categorisation and straightforward UK banking experience invaluable. It’s less about exotic currency plays and more about keeping domestic finances tidy, especially if most of their spending happens within the UK. Monzo's free ATM withdrawals in the UK are also a plus for home-based users.
If you're on the fence, default to Revolut. Its free tier offers more flexibility for a nomad, especially if your income or expenses cross borders regularly. Monzo’s primary advantage is its user-friendly budgeting tools for UK residents. The biggest deciding factor? Revolut requires at least a European Economic Area (EEA) address† for full functionality, while Monzo is primarily for UK residents. If you don't meet the Revolut address requirement, Monzo is your only real option between the two for day-to-day banking.
†= figure we couldn’t independently verify. Confirm with the official source before you book.
Affiliate disclosure: we earn a small commission if you sign up via either link. We list both because both are genuinely useful.